The developers had made available extra equity to cover part of the increase
Studio City phase one cost rises to USD 2.3 B
(Macau).- The developers of Studio City in Cotai, led by casino operator Melco Crown Entertainment, have increased the budget for the construction of the first phase to about USD 2.3 B from USD 2 B.
2014-08-27
Reading time 24 seg
(Macau).- The developers of Studio City in Cotai, led by casino operator Melco Crown Entertainment, have increased the budget for the construction of the first phase to about USD 2.3 B from USD 2 B.
Melco Crown Entertainment told the Hong Kong Stock Exchange that the developers had made available extra equity, pro rata, to cover part of the increase.
The company said the budget for the first phase might change yet again, depending on variables including costs and the availability of financing on acceptable terms.
Melco Crown Entertainment had spent about US$ 862.5 million on the project by the end of June.
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