Melco privatisation plan hits Manila's gambling dream

Macau casino operator ready to pay $210 million to take City of Dreams Manila into its own hands as listing gamble fails to help group raise capital amid weak turnover of shares.

City of Dreams Manila

Danny Leung

September 17, 2018

Melco Resorts and Entertainment, the Macau-based casino and resort operator owned by Hong Kong billionaire Lawrence Ho Yau-lung, is taking its integrated casino project in the Philippines off the stock market for P11.4 billion ($210 million) as part of a corporate restructuring at group level.

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