• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 29 June 2022
  • 中文中文
  • 日本語日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Melco continues Philippines restructure

Newsdesk by Newsdesk
Sun 9 Jun 2019 at 16:21
Belle Corp, Premium Leisure confirm second Philippines IR interest with provincial location on the cards
38
SHARES
880
VIEWS
Print Friendly, PDF & Email

Melco Resorts & Entertainment (Philippines) has filed an application with the Securities and Exchange Commission to restructure its equity in order to eliminate accumulated deficits.

The application relates to a plan by Melco, which operates City of Dreams Manila, to reduce the number of common shares in the company from 5.9 billion to just 11,800, increasing the value of each share from Php1 to Php500,000.

In a Friday filing to the Philippines Stock Exchange, Melco Resorts & Entertainment (Philippines) said it and three subsidiaries – MPHIL Holdings No. 1 Corporation, MPHIL Holdings No. 2 Corporation and Melco Resorts Leisure (PHP) Corporation – had each filed an application for the equity restructuring.

The company added that, if approved, it would apply additional paid-in capital to the accumulated debts, bringing the resulting value of each company’s accumulated deficit to zero with no changes to the equity of individual shareholders.

Melco’s application follows last year’s tender of public shares which saw MCO (Philippines) Investments Limited, a subsidiary of Melco International Development Ltd, increase its stake in Melco Resorts and Entertainment (Philippines) from 72.54% to 96.1%.

By reducing the number of shares into larger batches, MCO is also looking to repurchase the resulting fractional shares at a share price of Php7.25 per current share, increasing its overall holding.

RelatedPosts

Philippines power giant reveals plan to develop new Metro Manila IR

PAGCOR says US$43 million in uncollected POGO fees mostly accounted for

Mon 27 Jun 2022 at 16:05
PAGCOR reveals substantial POGO revenue rise in 2018 as enforcement role defended

PAGCOR yet to collect US$43 million in unpaid fees from POGOS: report

Thu 23 Jun 2022 at 18:24
We’re Back!

Okada Manila owners claim US$38 million paid to Kazuo Okada ally for “expenses”

Thu 23 Jun 2022 at 06:16
MegaSportsWorld reopens sportsbook at Resorts World Manila

MegaSportsWorld reopens sportsbook at Resorts World Manila

Thu 23 Jun 2022 at 06:13
Load More
Tags: Melco Resorts & EntertainmentPhilippinesshares
Share17Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial: The Philippines: Asia’s rising star

Editorial: The Philippines: Asia’s rising star

by Ben Blaschke
Mon 30 May 2022 at 23:55

Macau has for the best part of two decades been recognized as the undisputed king of Asia when it comes...

We’re Back!

We’re Back!

by Ben Blaschke
Mon 30 May 2022 at 23:39

While Macau’s operators have reached nine consecutive quarters of substantial GGR losses, the rest of Asia is opening up and...

Into the Sunset

Into the Sunset

by Pierce Chan
Mon 30 May 2022 at 23:29

Pawnbroking has a long history in Macau, dating all the way back to the late Qing Dynasty. The rapid development...

Metaverse: The ultimate destination marketing tool?

Metaverse: The ultimate destination marketing tool?

by Victoria White
Mon 30 May 2022 at 23:17

In the first of a two-part series, MdME’s Victoria White takes a closer look at the rising world of metaverses...

Related Posts

Confirmed number of COVID cases in Macau reaches 414

Confirmed number of COVID cases in Macau reaches 414

by Pierce Chan
Tue 28 Jun 2022 at 10:39

The number of confirmed positive cases of COVID-19 since the continuing Macau outbreak began on 19 June has reached 414, as of 9am (Macau time) on Tuesday 28 June. There were 57 new cases found in the past 24 hours...

Aristocrat completes US$965 million fundraising exercise for Playtech bid

Aristocrat Gaming names Oriana Branon as Vice President of Communications and Corporate Affairs

by Newsdesk
Tue 28 Jun 2022 at 05:57

Aristocrat Gaming, the gaming division of Aristocrat leisure Ltd’s subsidiary Aristocrat Technologies Inc, has announced the appointment of Oriana Branon as Vice President of Communications and Corporate Affairs. Branon, who previously led corporate communications for financial tech giant Bill.com, will report...

Century Entertainment granted two gaming tables as Ng Man Sun opens new casino in Cambodia’s Dara Sakor

Century Entertainment says loss narrowed for FY22

by Newsdesk
Tue 28 Jun 2022 at 05:26

Century Entertainment International Holdings has issued a profit alert, revealing it expects to narrow its loss attributable to owners of the company to HK$3.3 million (US$421,500) for the year ended 31 March 2022. This is down from a loss of...

SJM confirms casino table, machine limits for Grand Lisboa Palace opening day

Moody’s downgrades SJM’s outlook to negative on Macau COVID concerns

by Ben Blaschke
Tue 28 Jun 2022 at 05:13

Moody’s Investors Service has downgraded the outlook on Macau’s SJM Holdings Ltd and its subsidiary Champion Path Holdings Ltd to negative, citing uncertainty around its recovery runway. The agency has, however, confirmed SJM’s Ba3 corporate family rating (CFR) and the...


HKUST

HKUST

Simple Play

IAG

© 2005-2022
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • Contributors
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About
  • 中文
  • 日本語

© 2005-2022
Inside Asian Gaming.
All rights reserved.