Melco the main shareholder of casino
- DATE: Jun 28, 2017
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- CATEGORY: MARKET TRENDS
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- AUTHOR: Elena Economou
Melco International Development Ltd, will be assuming the majority stake of 70.74% shareholding of the integrated casino resort project in Cyprus, with the agreement to purchase Hard Rock’s interest in the project company.
According to a Melco press release, the company currently holds 35.37% of the project company and has entered an agreement to purchase Hard Rock’s interest, completion of which is subject to the approval of the Cyprus government.
The remaining 29.26% belongs to CPZL (the Cyprus Phassouri (Zakaki) Limited).
Source: Stockwatch
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