April 09, 2013

Local Melco Crown unit raises P2.16 B

Melco Crown (Philippines) Resorts Corp. said it sold all of its 150.43 million treasury shares at P14.20 apiece. The transaction allowed the gaming firm to raise P2.16 billion in fresh capital.

This is part of the company’s planned $400-million share sale that will broaden their investor base and bankroll the construction of the integrated resort and casino complex.

The $1.3-billion, 920-room Belle Grande Manila Bay casino and resort will be Melco Crown’s first casino outside Macau where it operates the City of Dreams and Altira Macau casinos.