Melco Resorts and Entertainment Corporation announced that the division in the Philippines has changed its name to Melco Resorts and Entertainment (Philippines).
Melco Resorts announces change of name and rebranding
On May 30, 2017, a hearing will be held, during which the Securities and Exchange Commission (SAEC) will take a final decision. The management of the company informed about the name change on April 16, 2017. Casinos of Dreams Casino operator Manila Melco Philippines allowed to change the name after confirming the status of the most successful operator of 2007.
As previously reported, the partnership between Melco and Crown was completed in early May 2017. Crown Resorts announced that the sale of the remaining stake in Melco Resorts has been completed. The issuance of the remaining shares brought Crown Resorts almost USD 1 billion of net proceeds. The company said that the money will be used to pay for the objects of debts.
Recall that the consortium Melco Hard Rock received a license to build and operate an integrated casino in Cyprus.