Thursday, August 11, 2022

SVH retail entitlement offer available Friday


Australia-listed Silver Heritage Group on Tuesday said it had completed the institutional component of its fully underwritten accelerated renounceable entitlement offer.

Silver Heritage noted the Institutional Entitlement Offer raised approximately A$10.3 million (US$7.8 million)

The retail component of the entitlement offer, available from Friday 7 July to Wednesday July 26, is expected to raise approximately A$8.7 million, added the company.

According to an earlier filing from the company, the proceeds of the offer, expected to be around US$14.4 million, will be used to “fund completion and construction and fit out of Tiger Palace, to provide working capital, and to pay the costs of the Entitlement Offer.”

Last week, Silver Heritage Mike Bolsover said while there have been challenges developing the resort, he is now optimistic about finishing the project.

“We are in the right place geographically to address the rapidly growing Indian Middle-Class, we are proven operators of casinos in emerging jurisdictions and, whilst we have had a challenging period developing the subcontinent’s first Integrated Resort, we have learned from our experience and have an excellent team in place now to execute the final stages of the build and pre-opening through to operations in the second half of the year,” he said.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

3rd party / Cookies
Show settings
Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief