Melco Announces Commitment for Studio City Private Placement
February 07 2022 - 4:27PM
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 subsidiary, MCO Cotai
Investments Limited, has entered into a subscription agreement with
Studio City International Holdings Limited
(“
SCIHL”) to purchase approximately 220 million
Class A ordinary shares of SCIHL (the "
SCIHL Class A
Shares") for an aggregate purchase price of approximately
US$165 million.
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 and SCIHL’s
American Depositary Shares (“SCIHL ADSs”) 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 and SCIHL ADSs 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 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) the global pandemic of
COVID-19, caused by a novel strain of the coronavirus, and the
continued impact of its consequences on our business, our industry
and the global economy, (ii) growth of the gaming market and
visitations in Macau, the Philippines and the Republic of Cyprus,
(iii) capital and credit market volatility, (iv) local and global
economic conditions, (v) our anticipated growth strategies, (vi)
gaming authority and other governmental approvals and regulations,
(vii) proposed amendments to the gaming law in Macau, the extension
of current concessions and subconcessions and tender for new gaming
concessions, and (viii) 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 located at Taipa, Macau
and City of Dreams (www.cityofdreamsmacau.com), an integrated
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
is licensed to operate four satellite casinos (“Cyprus Casinos”).
Upon the opening of City of Dreams Mediterranean, the Company will
continue to operate the satellite casinos while operation of the
temporary casino will cease. For more information about the
Company, please visit www.melco-resorts.com.
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 the investment community, please
contact:Robin YuenTel: +852 2598 3619Email:
robinyuen@melco-resorts.com
For media enquiries, please contact:Chimmy
LeungExecutive Director, Corporate Communications Tel: +852 3151
3765Email: chimmyleung@melco-resorts.com
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