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Melco International Development Announces Business Update In Respect Of Melco Resorts Finance
Melco Resorts says Total Operating Revenues For Q3 2020 Were Us$0.21 Billion, Decrease Of About 85%
Melco Resorts Finance Announces Proposed 5.750% Senior Notes Offering
Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines. Its segments include City of Dreams, Altira Macau, Studio City, Mocha Clubs, City of Dreams Manila, and Corporate and Others. It has over three casino based operations in Macau, namely, City of Dreams, Altira Macau and Studio City, and non-casino based operations in Macau at its Mocha Clubs. It also has a casino based operation in the Philippines, City of Dreams Manila. It is developing the fifth hotel tower at City of Dreams in Cotai, Macau. Its other operations also include Taipa Square Casino, Macau operating within Hotel Taipa Square.
Casinos & Gaming
36/F The Centrium
60 Wyndham Street, Central
Yau Lung Ho
Executive Chairman of the Board, Chief Executive Officer
Evan Andrew Winkler
Geoffrey Stuart Davis
Chief Financial Officer, Executive Vice President
Executive Vice President, Chief Legal Officer
Executive Vice President and Chief of Staff to Chairman and Chief Executive Officer
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Australian billionaire James Packer said on Wednesday he "forgot" his casino firm Crown Resorts Ltd <CWN.AX> was banned from dealing with associates of Hong Kong's Stanley Ho when he orchestrated a part-buyout by a firm controlled by Ho's son.
Private equity company Blackstone Group Inc <BX.N> bought a near 10% stake in Australian casino operator Crown Resorts Ltd <CWN.AX> from Macau's Melco Resorts & Entertainment Ltd <MLCO.O>, sending Crown shares soaring amid hopes of a buyout.
* Closure of Macau casinos and slide in tourism hitting industry
The new coronavirus epidemic has claimed its first big M&A deal, with Macau casino operator Melco Resorts & Entertainment Ltd <MLCO.O> pulling the plug on a stake purchase in Australia's Crown Resorts Ltd <CWN.AX>, citing a plunge in traveler numbers and casino closures.
Melco Resorts & Entertainment Ltd said on Thursday it has shelved plans to raise its stake in Australia's Crown Resorts Ltd as the coronavirus outbreak in China forces the casino operator to rethink its non-core investments.
Hong Kong casino operator Melco Resorts & Entertainment Ltd <MLCO.O> is cooperating with Japanese prosecutors in a widening bribery investigation of a senior Japanese ruling party lawmaker, a source said on Wednesday.
Australian businessman James Packer has frozen a A$1.2 billion ($810.48 million) partial sale of his casino company to Hong Kong's Melco Resorts & Entertainment pending an investigation into alleged criminal activity at its Australian operations.
Australia's Crown Resorts on Thursday said it had been informed that a planned $1.2 billion stake sale by casino mogul James Packer to Melco Resorts & Entertainment had been delayed.
Melco Resorts & Entertainment <MLCO.O> said on Friday it will cooperate with an Australian gaming regulator's inquiry into its $1.2 billion stake purchase in Crown Resorts <CWN.AX>.
An Australian gaming regulator said it will review Melco Resorts & Entertainment's <MLCO.O> planned $1.2 billion stake purchase in Crown Resorts <CWN.AX> following local media reports that Crown flouted rules to lure big Chinese gamblers to Australia.
Australia's New South Wales liquor and gaming regulator on Thursday announced an inquiry into Melco Resorts & Entertainment's proposal to buy a stake in Crown Resorts from casino mogul James Packer.
An Australian regulator said it will review its approval for Crown Resorts' $1.5 billion casino being built in Sydney, after the gambling giant's founder James Packer sold nearly half his stake in the company to Hong Kong's Melco Resorts.
Australian casino giant Crown Resorts Ltd saw its shares tumble on Friday, after a surprise $1.2 billion selldown by founder James Packer to Hong Kong's Melco Resorts & Entertainment Ltd dampened hopes for a full buyout.
Australian shares are expected to open higher on Friday, tracking gains on Wall Street, and are likely to be supported by a surge in Crown Resorts Ltd shares after U.S. firm Melco Resorts & Entertainment said it will buy a stake in the casino operator. Melco Resorts & Entertainment...
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:
Melco Resorts & Entertainment will buy a 20% stake in Australia's Crown Resorts from casino mogul James Packer for A$1.76 billion ($1.22 billion), the U.S. company said, months after Wynn Resorts withdrew an offer to buy Crown.
Melco Resorts & Entertainment Ltd said on Thursday it would buy a 19.99% stake in Australia's Crown Resorts Ltd for A$1.76 billion ($1.22 billion). Melco's offer represents a marginal premium of 0.6% to Crown's last closing price of A$12.92. ($1 = 1.4436 Australian dollars...
(This version of the August 20 story corrects company name and stock code in paragraph 7)
* Q1 EARNINGS PER SHARE VIEW $0.27, REVENUE VIEW $1.38 BILLION -- THOMSON REUTERS I/B/E/S
* MELCO RESORTS & ENTERTAINMENT LTD SAYS ANNOUNCES THAT ITS BOARD HAS APPROVED A NEW US$500 MILLION SHARE REPURCHASE PROGRAM
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