International edition
September 21, 2020

Through an offering of 1.2 billion shares

Melco Crown Philippines to raise us$ 400 million in share offer

(Philippines) - Melco Crown Philippines Resorts, the Philippine unit of Macau gaming company Melco Crown Entertainment, plans to raise us$ 400 million through an offering of 1.2 billion shares, Thomson Reuters IFR reported.

M

elco Crown Entertainment, run by Australian billionaire James Packer and the son of Macau gambling tycoon Stanley Ho, recently signed a deal with Belle Corp in the Philippines to develop and operate a us$ 1 billion Entertainment City casino resort. It aims to open the resort in mid-2014.

That project is Melco's first casino outside its home base Macau and one of the biggest Chinese investments in the Philippines. The share offer comprises a base of 1 billion shares with an over allotment option of 200 million shares. Citigroup and UBS are managing the offer, the report said.

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