NEW LOCATION

Olá Brazil Brazil NVMe-powered VPS Plans in Brazil Now Available.

Deploy Instantly
  • +357 2425 0808
  • Login
  • English

Home

Blog

Melco increases its stake in Cyprus casi...

Melco increases its stake in Cyprus casino

Melco increases its stake in Cyprus casino

NetShop ISP

NetShop ISP · Blog Author

Dec 22, 2017 · Archive

As it is reported Melco International Development Ltd. it would be increasing its stake in the casino that’s currently being developed in Cyprus.

Melco currently owns a 70% stake in the project and will be increasing it to 75%. The increase in stakeholder ownership will occur via a share subscription agreement with Cyprus Phasouri (Zakaki) Ltd, a conglomerate based in Cyprus.

According to the shareholder’s agreement, a Melco Resorts subsidiary or Melco Resorts and Entertainment Ltd. will be responsible for managing the project and offering various additional services to the firm developing the project. The management services mentioned in the filing refer to aspects such as design, construction, development, pre-opening, corporate management, and access to proprietary systems and intellectual property.

The Cyprus project is being labeled as a unique venture by Melco. The casino giant expects it to be a great business opportunity that is in line with Melco’s larger goal of becoming a leading international gaming and entertainment operator. Melco also stated that the Cyprus Phasouri partnership was of great value to the project and its development.

This isn’t the first time Melco has boosted its stake in the project. It had already done so in September by including its purchase of Hard Rock International. Earlier, Melco only owned a 35.37% stake. This was when it formed the consortium to bid for the license. However, by acquiring a stake in Hard Rock and including it in the scheme, it managed to raise its stake to 70.74%.

The license for the casino, granted by the government in Cyprus, is said to be valid for 30 years.

Press Releases
75

Free VPS Trial

No Credit Card Required.

Recent Posts

The Importance of Server Backups: Ensuring Data Security and Business Continuity

The Importance of Server Backups: Ensuring Data Security and Business Continuity

24 September, 2024

The Critical Role of Server Time Synchronization in MetaTrader 5 (MT5) Cluster

The Critical Role of Server Time Synchronization in MetaTrader 5 (MT5) Cluster

04 September, 2024

NetShop ISP Expands Global Cloud Footprint in São Paulo, Brazil (LatAm)

NetShop ISP Expands Global Cloud Footprint in São Paulo, Brazil (LatAm)

30 August, 2024

Microsoft Security Alert: Zero-Click IPv6 Vulnerability on Windows Servers [CVE-2024-38063]

Microsoft Security Alert: Zero-Click IPv6 Vulnerability on Windows Servers [CVE-2024-38063]

17 August, 2024

How To Connect (RDP) on Windows Server 2022 from Linux Ubuntu PC

How To Connect (RDP) on Windows Server 2022 from Linux Ubuntu PC

16 August, 2024

#letushostyou

Award Winning Hosting Provider established in 2004.

120 Faneromenis Avenue, Imperial Tower, 2nd Floor, Larnaca 6031, Cyprus

Products

Bare Metal Servers

Customized Servers

Virtual / Cloud Servers

Forex VPS

Storage VPS

cPanel Web Hosting

Reseller Web Hosting

Colocation

Addons

Premium DNS

Email Hosting

Cloud Backup

DDoS Protection

Licenses

SSL Certificates

Domain Names

Premium SLAs

About Us

Data Center Locations

Looking Glass

Our Company

Contact Us

Careers in Cyprus

Become a Partner

Awards

Certifications

© 2024 S.S. NetShop Internet Services Ltd. All rights reserved.  Terms & Conditions  |  Privacy Policy
CY Reg. Number: HE 217340 | EU VAT Number: CY10217340J

Visa
Mastercard
PayPal
Bitcoin
Tether
Ethereum
Litecoin
Wise
Revolut
Wire Transfer