Premium Leisure Corporation, which is listed in the Philippines, has filed a voluntary delisting petition of its shares on the mainboard of the Philippine Stock Exchange since July 9, according to a filing on Monday.’

The petition was filed May 10 with Ramon Monzon, president and CEO of Philippine Stock Exchange Inc.

Premium Leisure is an investor in City of Dreams Manila, a casino resort in the capital of the Philippines run by a division of Melco Resorts & Entertainment Ltd. Premium Leisure gets a stake through one of its divisions of gaming revenue from City of Dreams Manila.

Premium Leasure is linked to Belle Corp, a listed company on the Philippine Stock Exchange.

In March, Bell announced that it aimed to apply for “voluntary delisting” of Premium Leisure to the main board of directors of the National Stock Exchange. The parent company priced its public offering of PHP 0.85 each for all of Premium Leisure’s issued common shares.

The tender was completed on May 9, according to Monday’s filing.

The parent company paid PHP 5.25 billion ($90.7 million) for a total of 6.17 billion issued and outstanding common shares of Premium Leisure, or just over 19.77%. As a result, Bell currently controls 99.55% of Premium Leisure.

Premium Leisure reported net income of just 279.5 million PHPs in the first quarter of 2024, down 55.3% year-over-year. The company said City of Dreams Manila’s gaming revenue share fell 43.9% year-over-year to 411.2 million PHPs in the January-March period of 2024.

BY: 검빛경마

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