MarketMelco International Development
Company Profile

Melco International Development

Melco International Development Limited, formerly The Macao Electric Lighting Company Limited, is a multinational investment holding company based in Central, Hong Kong. Melco International invests in casino and hospitality business and other businesses in Hong Kong, Macau, the Philippines, and Cyprus. One of the 100 oldest companies in Hong Kong, it was founded in 1910 and listed on the Hong Kong Stock Exchange in 1927. Originally an electricity supplier to Macau, around 2001 Melco International diversified into casino development and operations, building casino resorts such as Studio City Macau, City of Dreams Macau, City of Dreams Manila, and Altira Macau. Currently the major subsidiary that Melco International operates is Melco Resorts & Entertainment Limited.

History
1910–1987 – Macao Electric Lighting The legacy company of Melco International Development Limited, the Macao Electric Lighting Company, Limited (MELCO), was incorporated in 1910. and the first company to supply power to Macao. 1988–2004 – Melco International The Macao Electric Lighting Company, Limited was renamed Melco International Development Limited (Melco International) in 1988. Melco International ceased to be a subsidiary of Shun Tak Holdings in 1996. such as iAsia Technology Limited, which was renamed as Value Convergence Holdings Limited. In 2003, Value Convergence together with its units VC CEF Capital, VC CEF Brokerage and VC CEF Futures became Melco International's subsidiaries, Melco International's Mocha Clubs, opened in 2003, 2004–2014 – Integrated resorts Melco International formed a joint venture with Publishing and Broadcasting Limited (PBL), an Australian casino operator, the venture was breaking ground on a new casino project in Macau by December 2004. Melco International's profit increased 770% in 2005 to HK$534.2 million, With Melco International retaining a third of the shares, With Crown's stake purchased for $1.16 billion, and a market cap of $2.8 billion. It also ranked fourth on the Forbes list of 2017 Growth Champions. With Lawrence Ho as chairman and chief executive, for a spin-off and NYSE listing of its Studio City International Holdings Limited unit. With Melco Resorts owning 60% of Studio City, the press reported the IPO could raise as much as HK$2.8 billion, Melco Resorts continues to be listed on the NASDAQ Global Select Market. As an investment holding company, Melco International Development Limited currently has investments in Hong Kong, China, Cyprus, and the Philippines. In 2019, Melco International listed revenues of HK$45 billion, with profits of HK$1.8 billion. ==Major subsidiary==
Major subsidiary
Melco Resorts & Entertainment Limited Melco Resorts & Entertainment (Melco Resorts) operates as a subsidiary of Melco International, which owns 51.2% of the shares. In Cyprus, Melco Resorts operates through the subsidiary ICR Holdings, which in turn consists of subsidiaries such as Integrated Casino Resorts Cyprus Limited and ICR Cyprus Resort Development Co. Limited. , a $1.1 billion hotel tower designed by Zaha Hadid. The first iteration of Melco Resorts was formed in 2004 as a joint venture In 2015, Melco Crown opened its $3.2 billion Studio City Macau resort Melco International subsequently obtained a majority stake in which is composed of up to four satellite casino premises in the country. After Japanese lawmakers pushed for legalized gambling in integrated resorts, by 2017 Melco Resorts & Entertainment was bidding for one of an expected three licenses. In 2018 Melco Resorts opened Morpheus, a $1.1 billion hotel tower designed by Zaha Hadid, at City of Dreams Macau. In the spring of 2018, Melco Resorts revealed its Macau resorts would rely on databases instead of junket operators to market to VIP visitors. ==List of developments==
List of developments
Melco International's major holdings include: • Altira Macau (Macau) • Morpheus • Nüwa • Studio City Macau (Macau) ==See also==
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