Casino expansion under way THE DELAY in the initial public offering (IPO) planned by Travellers International Hotel Group, Inc. will not affect the ongoing multimillion-dollar expansion of Resorts World Manila, a top company official said yesterday. “We are not pressured. We have funds available to fund our projects,” Travellers President Kingson U. Sian told reporters following the annual stockholders’ meeting in Quezon City of Megaworld Corp., a sister company where he is director. Mr. Sian said Travellers has around P36 billion in cash to bankroll the expansion, which according to him, was worth “around $600 million.” Travellers early this month told the Philippine Stock Exchange that it was putting off its planned IPO “in view of the current market conditions.”
Posted on: Fri, 19 Jul 2013 04:24:23 +0000
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