Melco Announces Commitment for Studio City Private Placement Offers
July 07 2020 - 8:47AM
Melco Resorts & Entertainment Limited (Nasdaq: MLCO)
(“Melco” or the “Company”), a developer, owner and operator of
integrated resort facilities in Asia and Europe, today announced
its support of the series of private placement
offers announced by Studio City International Holdings Limited
(“SCIHL”) on July 7, 2020 of SCIHL’s Class A ordinary shares
(“SCIHL Class A Shares”). Melco also announced that its
subsidiary, MCO Cotai Investments Limited (“MCO Cotai”), will
purchase all SCIHL Class A Shares offered to it. Melco also
indicated MCO Cotai will purchase any and all SCIHL Class A Shares
if offered to it by SCHIL if and to the extent there are
unsubscribed SCHIL Class A Shares by other offerees under the terms
of such private placement offers, such that SCIHL receives no less
than US$450 million and up to approximately US$500 million from
such private placement offers.
This press release is neither an offer to sell
nor the solicitation of an offer to buy any such securities or any
other securities and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offering, solicitation or
sale would be unlawful. The SCIHL Class A Shares are being offered
in an offering exempt from registration under the Securities Act of
1933, as amended (the “Securities Act”), and outside the United
States in reliance on Regulation S under the Securities Act. The
SCIHL Class A Shares have not been registered under the Securities
Act or any state securities laws and may not be offered or sold in
the United States without registration or an applicable exemption
from the registration requirements of the Securities Act or any
applicable state securities laws.
Safe Harbor Statement
This press release contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Melco Resorts & Entertainment Limited (the
“Company”) may also make written or oral forward-looking statements
in its periodic reports to the U.S. Securities and Exchange
Commission (the “SEC”), in its annual report to shareholders, in
press releases and other written materials and in oral statements
made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements
about the Company’s beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. These factors include, but are not limited to,
(i) growth of the gaming market and visitations in Macau, the
Philippines and the Republic of Cyprus, (ii) capital and
credit market volatility, (iii) local and global economic
conditions, (iv) our anticipated growth strategies,
(v) gaming authority and other governmental approvals and
regulations, and (vi) our future business development, results
of operations and financial condition. In some cases,
forward-looking statements can be identified by words or phrases
such as “may”, “will”, “expect”, “anticipate”, “target”, “aim”,
“estimate”, “intend”, “plan”, “believe”, “potential”, “continue”,
“is/are likely to” or other similar expressions. Further
information regarding these and other risks, uncertainties or
factors is included in the Company’s filings with the SEC. All
information provided in this press release is as of the date of
this press release, and the Company undertakes no duty to update
such information, except as required under applicable law.
About Melco Resorts & Entertainment
Limited
The Company, with its American depositary shares
listed on the NASDAQ Global Select Market (NASDAQ: MLCO), is a
developer, owner and operator of integrated resort facilities in
Asia and Europe. The Company currently operates Altira Macau
(www.altiramacau.com), an integrated resort hotel located at Taipa,
Macau and City of Dreams (www.cityofdreamsmacau.com), an integrated
urban resort located in Cotai, Macau. Its business also includes
the Mocha Clubs (www.mochaclubs.com), which comprise the
largest non-casino based operations of electronic gaming
machines in Macau. The Company also majority owns and operates
Studio City (www.studiocity-macau.com), a cinematically-themed
integrated resort in Cotai, Macau. In the Philippines, a Philippine
subsidiary of the Company currently operates and manages City of
Dreams Manila (www.cityofdreamsmanila.com), an integrated resort in
the Entertainment City complex in Manila. In Europe, the Company is
currently developing City of Dreams Mediterranean
(www.cityofdreamsmed.com.cy) in the Republic of Cyprus, which is
expected to be the largest and premier integrated destination
resort in Europe. The Company is currently operating a temporary
casino, the first authorized casino in the Republic of Cyprus, and
four satellite casinos (“Cyprus Casinos”). Upon the opening of City
of Dreams Mediterranean, the Company will continue to operate the
four satellite casinos while operation of the temporary casino will
cease.
The Company is strongly supported by its single largest
shareholder, Melco International Development Limited, a company
listed on the Main Board of The Stock Exchange of Hong Kong Limited
and is substantially owned and led by Mr. Lawrence Ho, who is
the Chairman, Executive Director and Chief Executive Officer of the
Company.
For investment community, please contact:
Richard Huang Director, Investor Relations Tel: +852 2598 3619
Email: richardlshuang@melco-resorts.com
For media enquiries, please contact:
Chimmy Leung Executive Director, Corporate Communications Tel:
+852 3151 3765 Email: chimmyleung@melco-resorts.com
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