City of Dreams Investor to Delist from Philippine Stock Exchange

Premium Leisure Corp (PLC), an investor in casino resorts, is being taken private by its subsidiary, Belle Corporation. On July 9, PLC submitted a request to the Philippine Stock Exchange (PSE) for a voluntary delisting.

In March, Belle launched a tender offer, paying PHP0.85 per share to acquire almost 19% of PLC’s shares. They now hold a 99.55% controlling share as a result.

PLC, the company that makes money from City of Dreams Manila, stated that in Q1 2024, net income (55.3%) and gaming revenue share (43.9%) were lower than they were in Q1 2023. Belle may have made the strategic choice to simplify operations by delisting.

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Original Story by: Asian Gaming Brief