CEO says no deal in “foreseeable future”
Melco Crown CEO Lawrence Ho has formally denied making a deal to invest in a hotel project in the Northern Mariana Islands in partnership with Chinese Strategic Holdings.
“The company clarifies that the company, its subsidiaries and Mr. Ho do not and will not in the foreseeable future have any business cooperation with CSH,” wrote Melco International Development in a filing submitted to the Hong Kong Stock Exchange.
According to the Macau Business Daily, Ho was responding to speculation that Melco was the company behind an agreement announced in February by CSH. In a Hong Kong filing, Chinese Strategic said it “has been in negotiations with a publicly traded company listed on Nasdaq regarding a possible co-operation in the hotel management and investment in Northern Mariana.”
CSH described the unidentified company as “a subsidiary of a reputable casino gaming group active in the Asia Pacific region operating a hotel-casino complex including one of the only six companies granted concessions or sub-concessions by the government of the Macau Special Administrative Region to operate casinos in Macau.”
