Louis XIII Holdings Ltd has raised enough money to proceed with its casino-resort project in Cotai, Union Gaming Research says. The research house says Louis XIII has raised about US$1.06 billion (MOP8.48 billion), comprising a loan of US$515 million from a mainland bank, US$411 million in proceeds from the company’s initial public offering this year and US$133 million from a recent combined sale of equity and convertible bonds. Union Gaming Research says the company should have about US$100 million in contingency funds when its resort opens in 2016.
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