A casino resort in Clark, Philippines, and a resort, a master company that has made a reserve plan “all companies seeking expansion,” are “constantly reviewing a range of options for financing, including debt and capital markets,” Mitchell Amador-Estasio, the company’s vice president of finance, said in a response to GGRAsia.
Her comments came in a written response to GGRAsia’s questions about a possible IPO push, as reported by local newspaper The Star in late June.
On Tuesday, Bloomberg and Reuters both reported on the IPO plans of one resort. The company has already signed contracts with investment banks and has suggested the timing of the stock sale, depending on market conditions, according to unidentified sources cited by Bloomberg.
The casino company is planning an IPO of between $15 billion and $20 billion, Reuters reported, citing Alejandro Tenko, head of the Philippine Entertainment Gaming Company (Pagcor).
The chief executive and chairman of the country’s gaming regulator said a resort aims to list on the Philippine Exchange early next year.
“The growth story is that they have casino expansions, including three championship golf courses and five-star hotels,” Mr Tengco told Reuters.
In a response to GGRAsia, Mr Amador-Estasio said the resort was “open to all options at the moment” but “there has been no board or shareholder action on what to do regarding fundraising activities, and as a result there is no timeline.”
“One group is actively engaged in various stages of development around dedicated investments in Philippine regulators and stakeholders,” she said.
“We will make any announcements on our projects and plans in the normal process and in due course,” she added.
A casino resort in the Clark Freeport Zone (pictured) was launched with an upgrade and rebranding from the Withers Hotel and Casino at Clark before December 2021.
A lavish development called Hann Reserve will complete a golf course for a design company founded by retired champion Jack Nicklaus in 2025. It will be one of three 18-hole courses to be built at Hann Reserve in New Clark City.
This is because all these multi-level developments have several luxury hotels, villas and “residence,” according to the promoter of Han Philippines Inc., a company led by businessman Han Dae-sik.
In December, the Banyan Tree-branded hotel began construction on the site of the Hanni Reserve.
BY: 바카라사이트