Melco unit confirms bid for Barcelona casino

Lottery supplier Melco Lot Ltd has submitted a bid to Spanish authorities to operate a casino in Barcelona, it said.

Hong Kong Stock Exchange's growth company, Instant Glory Holdings Inc., said in a filing on Friday that its wholly-owned subsidiary, Instant Glory Holdings Inc., has "recently become a shareholder" of BCN Integrated Resorts 2 SA, a 50-50 joint venture with Beremonte España SL.

BCN Consolidated Resort 2 announced on July 25 that it was "established with the aim of applying" for a casino license for BCN World, a large entertainment complex planned for Barcelona.

Beretmonte is a company that promotes the BCN World project. The company is led by Enrique Vanuelos, a Spanish businessman and entrepreneur.

Melcorot added that it had been informed by Spanish authorities on August 6 that the bid for BCN Integrated Resort 2 had been moved to phase 2 of the bidding process "consisting of detailed development proposals for casino installation and use and preparation and evaluation of permits."

Melcorat is managed by Hong Kong-listed Melco International Development Ltd., led by Lawrence Ho Yau Loong. Melco International is one of the two controlling shareholders of casino operator Melco Crown Entertainment Ltd. The other is Crown Resorts Ltd of Australia. Greek lottery supplier Intralot SA is also a major shareholder of Melcorot.

 least three global game operators - Melco International, Hard Rock Cafe International, and Caesars Entertainment - have submitted bids for BCN World's casino operations. Media reports say everyone is partnering with Beretmonte. 프라그마틱 슬롯 사이트

BCN World is expected to include casinos, hotels, convention centers, leisure centers, and residential areas. Each casino operator must invest at least 300 million euros ($433 million) in BCN World.

Melcorot also reported a loss of 20.8 million Hong Kong dollars (US$2.7 million) in the first half of the year, down sharply from a loss of HK$6.7 million a year ago, it said on Friday.

The company, which supplies lottery products to mainland China, said total revenue for the period was 22.5 million Hong Kong dollars, down 28% from a year earlier.