Slot Machine Venture

Publishing and Broadcasting Ltd and Melco International, Melco PBL have joined forces to offer shares to the underwriters of their IPO. The slot machine casino giant has announced that they are selling 9.03 million American Depository Shares to the underwriters for $19 each. These shares will assist them with their slot machine casino ventures in Macao.

The company is building a slot machine casino called the Crown Macao, which will cost $512.6 million, and will be open by middle of 2007. They are also working on another slot machine venture called City of Dreams, which will cost £2.1 billion – and is planned to be opened by mid to late 2008. They have one more slot machine casino planned, but they are still deciding on a good location for it.

The IPO will enable them to pay for the construction of the three slot machine casinos that they have on the books, and will help them with their look forward to other gaming opportunities.

The Chief Executive of PBL, James Packer, believes that this will enable the slot machine company to look into Asia for other opportunities. They already run six clubs in Macao with over a thousand slot machines.

Back to Monthly Archive // Main Slot Machine News Index