Melco funds casino JV

Stanley Ho group raises equity financing for Macau casino and hotel JV.

Melco International Development raised HK$1.277 billion ($164 million) yesterday (May 17) via a 70 million share top up placement led by Credit Suisse First Boston. Proceeds are being used to fund an acquisition in Macau the group sealed last Thursday in association with Australia's Publishing & Broadcasting group, owned by Kerry Packer.

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