eyes Hong Kong listing by year-end - 21st November
Hong Kong securities regulator has begun analysing
a possible dual listing of Melco Crown Entertainment
and the local gaming operator wants to complete the
move by the end of 2011.
said on Friday the Hong Kong securities regulator
started to consider its listing proposal the previous
day, adding that it aims to complete the Hong Kong
listing by year-end.
company is not planning for a global offering in view
of current market sentiment, it said in
of issuing new shares, Melco would instead choose
a listing of share already on issue.
this alternative, called listing by introduction,
would raise no additional funds.
operator was originally expected to raise between
USD 400 and 600 million (MOP 3.2 to 4.8 billion) to
finance the resumption of the long-delayed Macao Studio
believe our proposed dual listing on the local bourse
will not only put us on a par with our competitors,
but will also provide our existing shareholders with
much enhanced liquidity, while providing us with access
to an additional source of capital, Melco co-chairman
Lawrence Ho Yau Lung said in August.
company will continue to evaluate future fund raising
plans, Fridays statement added.
The operator completed the acquisition of a 60 percent
share in the project in July and Lawrence Ho said
at a press conference that they would invest USD 1.7
billion (MOP 13.7 billion) in the Cotai resort.
move was welcomed by markets as Melco rose as much
as 6 percent in New York trading after the announcement.
company passed a preliminary listing hearing last
month, according to market sources quoted by Hong
Kong Economic Times.
also announced that it would convert loans of HKD
899.8 million initially provided in 2006 by its major
shareholders into ordinary shares by the end of this
month. The operators two major shareholders
are Lawrence Hos Melco International Development
and Australian gaming company Crown Limited, headed
by James Packer.
conversion is deemed appropriate at this time to demonstrate
the companys ability to carry on its business
independently of controlling shareholders, as required
under the Hong Kong listing rules, a statement said.
move is further evidence of our controlling
shareholders continuing commitment to the company,
as well as their confidence in Macaus long term
prospects, Melco added.
Packer Gambling On 3rd Macau Casino, by Greg Tingle
- 18th June 2011
Macau casino joint venture plans to build a massive
$US2.5 billion ($2.3bn) casino resort...the group's
lucky third in the Chinese territory. This will see
them look capitalise on surging gaming revenues in
the red hot part of the world.
Crown Entertainment yesterday signed off on a $US360
million deal to gain control of the Macau Studio City
project, an "integrated resort project"
on hold since the global financial crisis and in planning
for more than 10 years.
firms chief executive, Lawrence Ho, advised the property's
theme and demographic target focus would be differentiated
from the company's existing Macau property assets,
the City of Dreams and the Altira Macau.
is due to start early next year and it is believed
the partners have no plans for an equity issue to
fund the project.
believe Macau Studio City's existing land grant and
previously completed site work will allow us to significantly
expedite its construction timetable," Ho told
the press yesterday.
will be Melco Crown's second project on Macau's Cotai
strip, a vast stretch of reclaimed land situated between
the islands of Taipa and Coloane that land based casino
developers in Macau, such as Ho and Packer, are promoting
as the orient's answer to the Las Vegas strip aka
"Sin City". City of Dreams is in Cotai.
year, Ho said Melco Crown was prepared to build more
casino resort developments in Macau and elsewhere
in Asia. Packer's Crown holds a 33.4% stake in Melco
Studio City site is one of the last prime land sites
available in Macau for development.
is located at the Lotus Bridge immigration point,
making it the virgin resort that tourists encounter
via entering Cotai.
the financial meltdown, Melco Crown had a management
arrangement with Studio City's owners to run the casino
at the site, but elected to take control of the project
after it became troublesome for the owners to properly
fund it within the prior structure.
Crown is understood to have codenamed the deal Project
deal ends 3 long years of delays caused by legal matters
and a range of dramas between the Hong Kong and US
City was previously owned by a joint venture between
Hong Kong-listed entertainment company eSun Holdings
and New Cotai Holdings, an entity controlled by funds
managed by US firms Silver Point Capital and Oaktree
Cotai Holdings will hold a 40% stake.
Crown will pay New Cotai $US100m in 3 instalments
over two years.
the financial crunch, the casino development was to
have included a specially designed 4000-seat arena,
a 2300-seat theatre, Asia's first "Playboy Mansion"
and 4 new classy hotels - a Ritz-Carlton, a W Hotel,
a Marriott and the world's first Tang Hotel.
month, Macau gaming revenues rose 42.4% to a record
$US3.03bn, what Vegas casino operators dream of.
were rocketed by the opening of Galaxy Entertainment
Group's $US2bn resort development at Cotai, which
is nearby to the City of Dreams.
remain bullish on Macau's prospects and believe high-quality
new supply, such as Macau Studio City, will continue
to drive incremental demand," Ho said.
Man has been speaking to property and gaming experts
about the Packer - Macau developments, with 95% believing
that the latest Packer Macau project with be a "good
to great business and investment".
good punting, know your limits and bet with your head,
not over it.
of Dreams is a property along the Cotai Strip in the
Cotai reclaimation area in Macau built, owned and
managed by Melco Crown Entertainment, formerly known
as Melco PBL Entertainment. City of Dreams is Melco's
second mega-sized property in Macau. It is located
directly opposite The Venetian Macao, the first property
in Cotai, opened by Las Vegas Sands Corp.
City of Dreams, widely known as COD or COD Macau in
the industry, is in the style of a podium, with four
towers: namely the Hard rock Hotel, Crown Towers,
the Grand Hyatt Macau, and a 47-storey luxury apartment
block. Its three-floor podium includes a mega-casino,
over 200 shopping facilities and hotel guest facilities.
City of Dreams will offer 420 000 sq ft of gaming
space that boasts 550 gaming tables and 1500 machines,
over 20 restaurants and bars one of the largest in
the city. The mega property also includes 175 000
sq ft of high-end retail space (The Boulevard) spread
across two levels.
Also two theaters will open attract patrons, the first
one "The Bubble" will show a HD media projection
presentation entitled "Dragons Treasure".
The Dragone Theater will open in mid of 2009.
The first phase COD Macau will open on 1st June 2009,
while Hyatt will open in August 2009, and the Apartments
likely to open in 2010.
Casino: 420,000-square-foot, 550 gaming tables and
1,500 gaming machines
Hotel: 2,200 guest rooms and suites
Grand Hyatt Macau
Hard Rock Hotel
Apartment: Apartment Hotel
Shopping: The Boulevard, 175,000 square feet of retail
space spread over two levels
Dining: Over 20 food and beverage venues
Multi-media Show: Dragon’s Treasure™ will
be showcased in The Bubble™, a dome-shaped theatre
and one of the iconic landmarks located in City of
Dreams. This 10-minute immersive multi-media experience
combines high-definition video content, a sweeping
musical score, over 29,000 theatrical LED lights,
and a variety of sensory effects to create a stirring
of Dreams is the title sponsor for Matthew Marsh in
the 2008 Macau Guia race. COD organized a visit by
Matthew Marsh to the Fountain of Hope, a Macau based
non-profits home in November 2008. (Credit:
Crown Casino and James Packer on the Upswing - 3rd
Casino Won’t be Taking Stake in Las Vegas Project
- 5th April 2009
odds-on as prices soar
draws the line on its casino industry - 23rd April
house take grows 23% to $8.9b - 24th January 2007
Macau Officially Opened by James Packer
to join Macau's casino rush - 27th January 2007
Man Australia does not represent City Of Dreams