Tag Archives: Melco Resorts
Australia – Melco tipped to try for outright control of Crown Resorts
Crown Resorts is now a prime target for takeover by Melco Resorts & Entertainment, according to gaming analyst Sanford C Bernstein who believes Melco will be approved for its acquisition of a 19.99 per cent share in the Australian casino group before bidding for full ownership. Bernstein’s Vitaly Umansky, Eunice Lee and Kelsey Zhu believe…
Cyprus – Melco completes 75 per cent acquisition of City of Dreams Mediterranean
Melco Resorts & Entertainment has completed its acquisition from Melco International Development Limited of all of Melco International’s holding of ordinary shares of ICR Cyprus Holdings and the issuance of 55.5m ordinary shares of the company, which are equivalent to approximately 18.5m American depositary shares of the company, to Melco International as consideration for the…
Australia – Melco buys 19.99 per cent of Crown Resorts
Melco Resorts & Entertainment has bought a 19.99 per cent share in its former Macau partner and Australian casino operator Crown Resorts. The deal will see Melco will acquire 135.35m shares of Crown for a price of AUD13.00 per Crown share. Lawrence Ho, Chairman and Chief Executive Officer of Melco Resorts & Entertainment, said: “I…
China – Melco Resorts’ profits dip as revenue growth slows
Macau and Philippines operator Melco Resorts and Entertainment reported a 25 per cent dip in profit in its first quarter with revenues improving by just four per cent. Total operating revenues for the first quarter of 2019 were US$1,362m, representing an increase of approximately four per cent from US$1,313.1m for the comparable period in 2018….
Cyprus – Melco confirms its fourth satellite will open in Ayia Napa
Melco Resorts, the operator currently building City of Dreams Mediterranean, ‘Europe’s first Integrated Casino Resort’ (ICR) in Cyprus, has confirmed it will open its next satellite casino in Αyia Napa in the summer. Cyprus Casinos Ayia Napa is looking to fill 35 opportunities in various roles such as slot attendants, cage cashiers, supervisors and security…
Cyprus – Avax to complete City of Dreams Mediterranean in 2021
Following a competitive tender and having obtained all required approvals by the Government of Cyprus, Integrated Casino Resort Cyprus has awarded the construction of the City of Dreams Mediterranean Integrated Casino Resort to Avax. According to the principal contract, construction is set to begin in early April 2019 and is scheduled to be completed within…
China – Melco reports best ever EBIDTA in fourth quarter
Melco Resorts & Entertainment has reported its bets ever adjusted property EBITDA of $425m which has increased 25 per cent year-on-year, on revenue growth of five per cent. Net revenue for the fourth quarter of 2018 was US$1,396.5m, representing an increase of approximately five per cent from US$1,332.6m for the comparable period in 2017. The…
China – Studio City to cease VIP gaming with tables likely to move to Morpheus
Macau casino operator Melco Resorts and Entertainment has confirmed it will cease offering VIP gaming at its Studio City casino in Cotai on January 15 in 2020. The casino originally opened as a mass only gaming floor in 2015 before decding it needed VIP customers just over a year later. Analysts believe the VIP tables…
China – Melco launches Macau’s first ever E-sports Stadium
Melco Resorts has launched Macau’s first ever E-sports venue, Macau EStadium, at Melco’s integrated resort Studio City in partnership with Kowloon E-Stadium and ALL-IN E-Sports. The Macau EStadium is a high-performance event space that can seat up to 274 guests and is equipped with cutting-edge advanced technology that will cater to top-tier E-sport tournaments, virtual…
