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Melco Resorts Philippines to eliminate accumulated deficits

Melco Resorts and Entertainment (Philippines) Corp. has filed an application with the Securities and Exchange Commission (SEC) to restructure its capital to eliminate accumulated deficits.

The company said that filings were made by its subsidiaries MPHIL Holdings No. 1 Corporation, MPHIL Holdings No. 2 Corporation, and Melco Resorts Leisure (PHP) Corporation.

Under the plan, each of the company’s accumulated deficit will be eliminated by applying its existing paid-in capital.

There will be no changes in the amount of each company’s total stockholders' equity as a result of the Restructuring, it said.

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