Melco Crown to delist from Hong Kong Stock Exchange
Casino operator Melco Crown Entertainment has applied to delist from the Hong Kong Stock Exchange due to limited fundraising opportunities and issues related to compliance obligations and cost.
Melco, which mainly operates various casinos in Macau, only listed its shares in the Chinese financial hub three years ago.
Despite opting to delist from Hong Kong, MarketWatch.com said that the operator would maintain its primary listing of American depository shares on the Nasdaq stock market, on which it has been listed since December 2006.
The news will come as a further blow to Macau, which last year saw full-year casino revenues decline for the first time since records began in 2002.
Gaming revenues last year fell by 2.6% to P351 billion (€37 billion/$44 billion) to bring to an end 11 consecutive years of increases.
Related article: Macau casino revenues slump in 2014