Melco Philippines changes its name

After the rebrand of the company, the Philippine arm decided to change its name as well.

Philippines.- Melco Resorts and Entertainment announced that the arm of the company from the Philippines changed its name to Melco Resorts and Entertainment (Philippines) Corporation. The brand will also change its name on the stock exchange.

In order to make it effective on May 30, the name change has to go through a review from the Securities and Exchange Commission. On April 16, it was reported that the company would be changing its name if the shareholders approved the measure by the end of the month. The Casino of Dreams Manila operator Melco Philippines is changing its name at a time when it was confirmed that its name in the stock exchange is the world’s top-performing in 2007, mainly because of the developed relations with other Asian nations.

The partnership between Melco and Crown was finalised earlier this month, after Crown Resorts announced that the company has completed the disposal of the remaining stake in Melco Resorts. The disposal of the remaining shares meant net proceeds of nearly a billion dollars to Crown Resorts, and the company said that they would direct that money to pay and reduce existing debts.