Alliance Global Group, one of the largest conglomerates in the Philippines, reorganized its stake in the casino.
Travelers International Hotel Group transferred 10.43 billion pesos ($238.1 million) worth of shares from Alliance Global's subsidiary, MegaWorld Corp, to its parent company.
“The sale of Megaworld’s shares in Travellers will enable Megaworld to focus on the real estate business while allowing AGI to benefit from the projected growth of Travellers through the expansion of its hotel, retail and gaming facilities,” said Megaworld in a statement on Monday to the Philippines Stock Exchange. 바다이야기