Melco Resorts and Entertainment Ltd (MLCO)

[inflationista]

from back in August 2009 -

Melco Crown Entertainment Limited Announces Completion of Follow-On Public Offering and Full Exercise of Underwriters' Over-Allotment Option

NEW YORK, Aug. 18, 2009 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (Nasdaq:MPEL) (the "Company") a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market, today announced the completion of its follow-on public offering first announced on August 11, 2009. Furthermore, the Company announced that the underwriters of its follow-on public offering have exercised in full their over-allotment option to purchase an additional 3,883,495 ADSs from the Company. The public offering price of the ADSs was US$5.15 per ADS. As a consequence of the full exercise of the underwriters' over-allotment option, the total proceeds raised by the Company from this follow-on public offering, after deduction of underwriting discounts and commissions, but before other offering expenses, increased to US$209.55 million.

my purchase was a 33% discount to the secondary and the co has half a billion in cash on the balance sheet -

i'll take a shot for 3.5x cash at a casino that serves the fastest growing population/economy in the world -

no matter what the management looks like - unless there's fraud i plan to make a few bucks here -