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December 02, 2006

Stanley Ho Casino King Files $1 Billion IPO

posted by MR WAVETHEORY at 12/02/2006 01:35:00 PM
The Crown Macau Hotel Casino is under construction in Macau, scheduled to be completed mid 2007.

Stanley Ho, the father of the casino industry in Macau, has filed a $1 billion Nasdaq IPO for Melco, the holding company. Melco PBL is a 50/50 joint venture between Melco International Development Limited, or Melco, and Publishing and Broadcasting Limited, or PBL, of Australia. The venture has also been taking part in casino expansion in Singapore.

Pending approval by the Macau Government, Melco PBL Entertainment is in the process of acquiring the last available subconcession to own and operate hotel casino resorts in the Macau Special Administrative Region, at a price of US$900 million.

Melco PBL Entertainment (Macau) Limited has two current casino gaming and entertainment projects under development: the Crown Macau Hotel Casino targeted to open in the second quarter of 2007 and the City of Dreams integrated casino complex, phase one of which is targeted to open in late 2008.

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6:45 AM  

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