HONG KONG, June 26, 2017 (GLOBE NEWSWIRE) -- Melco International Development Limited (“Melco International” or the “Group”) (HKEX Code:200) today signed the first and only casino resort licence with the government of The Republic of Cyprus.
Melco International has also entered into an agreement to assume majority stake of 70.74% shareholding in the Cyrus casino resort project by acquiring Hard Rock’s entire interest in the project. The acquisition completion is subject to the approval of the Cyprus Government. The Company currently holds 35.37% of the company formed between the Company, HR Cyprus Investor, LLC (“Hard Rock”) and Cyprus Phasouri (Zakaki) Limited (“CPZL”). CPZL currently holds the remaining 29.26% interest in the Project Company.
Melco International is very pleased that its vision for the creation of the first casino resort in the Republic of Cyprus corresponds to the government’s aspirations for a world class development that is unique to Europe, a landmark for Cyprus but also the wider region.
The company is confident that its solid track record and unique experience in creating the most spectacular integrated resorts in Asia can meaningfully contribute to the economy and tourism of Cyprus.
Entertaining Possibilities • Achieving Growth
About Melco International Development Limited
Founded in 1910 and listed on the Hong Kong Stock Exchange since 1927, Melco International Development Limited (“Melco International”) (HKEx Code:200) was among the first one hundred companies established in Hong Kong. Today, under the leadership of its Chairman and Chief Executive Officer, Mr. Lawrence Ho, Melco International has become a world leader in the leisure and entertainment sector with operations in China, Philippines and Russia. Its promising performance and distinctive leadership in the industry are also well recognized worldwide.
Melco International held a majority stake in Melco Resorts &Entertainment Limited (NASDAQ ticker symbol “MLCO”), a leading developer, owner and operator of casino gaming and entertainment casino resort facilities in Asia. The recent acquisition further bolsters the Group’s financial position and enables its growth opportunities in Macau, Asia and around the world. The Group has also secured the first casino resort licence in Cyprus.
As a dynamic enterprise, Melco has garnered numerous accolades for excellence in corporate governance and contribution to CSR. Melco has been honoured with the “Corporate Governance Asia Annual Recognition Award” by Corporate Governance Asia magazine for the eleventh year in 2016. It is also the first entertainment company to receive the “Hong Kong Corporate Governance Excellence Awards” by the Chamber of Hong Kong Listed Companies and the Centre for Corporate Governance and Financial Policy of the Hong Kong Baptist University.
For more information about Melco, please visit www.melco-group.com.
Media Enquiries
Melco International Development Limited
Maggie Ma
Tel: (852) 3151 3767
Fax: (852) 3162 8375
Email: maggiema@melco-group.com