{"id":206032,"date":"2022-03-20T20:57:52","date_gmt":"2022-03-21T03:57:52","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=206032"},"modified":"2022-03-21T10:31:08","modified_gmt":"2022-03-21T17:31:08","slug":"lawrence-hos-black-spade-acquisition-pursuing-hong-kong-listing","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/lawrence-hos-black-spade-acquisition-pursuing-hong-kong-listing\/","title":{"rendered":"Lawrence Ho\u2019s Black Spade SPAC to List in Hong Kong"},"content":{"rendered":"

Black Spade Acquisition, a special purpose acquisition company (SPAC) controlled by Melco Resorts & Entertainment (NASDAQ:MLCO) Chairman Lawrence Ho, is planning to list on the Hong Kong stock exchange, according to a recent regulatory filing.<\/p>\n

\"Black
Melco Resorts Chairman Lawrence Ho. His Black Spade Acquisition filed for a Hong Kong listing. (Image: Macau Business<\/em>)<\/figcaption><\/figure>\n

The blank check company is working with BOCHK Asset Management, a unit of Bank of China Hong Kong, on the Hong Kong listing. It\u2019d be the exchange\u2019s 11th<\/sup> SPAC listing since it started allowing such firms to trade on the bourse in January.<\/p>\n

HKEX introduced the Hong Kong SPAC listing regime in January 2022 after receiving substantial market support to its SPAC proposal consultation. As at 17 March, HKEX had received ten SPAC listing applications, reflecting strong market interest and demand for this new listing route,\u201d<\/strong> according to the exchange operator.<\/p><\/blockquote>\n

Black Spade is looking for merger targets \u201crelated to, or is in the entertainment, lifestyle, and health care industry,\u201d according to the regulatory filing. SPACs typically have two years<\/a> to find a merger partner or face the specter of liquidation.<\/p>\n

SPAC Sequel for Ho<\/h2>\n

This isn\u2019t the first time Ho embraced the blank check structure, and it\u2019s not the first time he used the Black Spade Acquisition name.<\/p>\n

\n

Last year, Black Spade Acquisition (NYSE:BSAQ) listed on the New York Stock Exchange<\/a>. It\u2019s yet to find a takeover target. Given Ho\u2019s background and the recent flurry of deals involving SPACs and gaming companies, it\u2019s reasonable to expect investors will ponder if the new blank-check will go in that direction.<\/p>\n<\/div>\n

\u201cWe believe China\u2019s growing middle-class population of more than 350 million people, with its rapidly evolving consumption patterns and increasing spending power, will continue to shape multiple industries in Asia and across the globe,\u201d according to Black Spade\u2019s S-1 filing.<\/p>\n

Some US-based SPACs<\/a> are either in the process of finalizing deals with gaming companies, or looking for targets in the industry. But US investors\u2019 overall enthusiasm for blank check deals is cooling, because many deSPACed firms, including betting firms such as DraftKings (NASDAQ:DKNG), Rush Street Interactive (NYSE:RSI), and Skillz (NYSE:SKLZ) have tumbled in epic fashion.<\/p>\n

Black Spade Plans<\/h2>\n

It remains to be seen if the Hong Kong version of Black Spade will pursue a gaming target. The regulatory filing makes clear the SPAC will look for opportunities that \u201ccan benefit from the collective network, knowledge, and experience of [its] promoters,\u201d and that \u201cis related to, or is in the entertainment, lifestyle, and health care industry.\u201d<\/p>\n

Founded in 2017, Black Spade Capital is Ho\u2019s personal investment vehicle. It controlled $1.02 billion in assets across various business in the China area as of the end of 2021.<\/strong><\/p>\n

Hong Kong-based Melco is one of the largest Asian gaming companies, with venues including Altria Macau and City of Dreams<\/a> on the Cotai Strip and Manila, among other destinations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Black Spade Acquisition, a special purpose acquisition company (SPAC) controlled by Melco Resorts & Entertainment (NASDAQ:MLCO) Chairman Lawrence Ho, is planning to list on the Hong Kong stock exchange, according to a recent regulatory filing. The blank check company is working with BOCHK Asset Management, a unit of Bank of China Hong Kong, on the […]<\/p>\n","protected":false},"author":46,"featured_media":206033,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[],"acf":[],"yoast_head":"\nLawrence Ho's Black Spade Acquisition Pursuing Hong Kong Listing<\/title>\n<meta name=\"description\" content=\"Lawrence Ho's Black Spade Acquisition, a SPAC, has plans to list on Hong Kong stock exchange.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/lawrence-hos-black-spade-acquisition-pursuing-hong-kong-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lawrence Ho's Black Spade Acquisition Pursuing Hong Kong Listing\" \/>\n<meta property=\"og:description\" content=\"Lawrence Ho's Black Spade Acquisition, a SPAC, has plans to list on Hong Kong stock exchange.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/lawrence-hos-black-spade-acquisition-pursuing-hong-kong-listing\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-21T03:57:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-21T17:31:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/lawrence.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/lawrence-hos-black-spade-acquisition-pursuing-hong-kong-listing\/\",\"url\":\"https:\/\/www.casino.org\/news\/lawrence-hos-black-spade-acquisition-pursuing-hong-kong-listing\/\",\"name\":\"Lawrence Ho's Black Spade Acquisition Pursuing Hong Kong Listing\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/lawrence-hos-black-spade-acquisition-pursuing-hong-kong-listing\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/lawrence-hos-black-spade-acquisition-pursuing-hong-kong-listing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/lawrence.jpg\",\"datePublished\":\"2022-03-21T03:57:52+00:00\",\"dateModified\":\"2022-03-21T17:31:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Lawrence Ho's Black Spade Acquisition, a SPAC, has plans to list on Hong Kong stock exchange.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/lawrence-hos-black-spade-acquisition-pursuing-hong-kong-listing\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/lawrence-hos-black-spade-acquisition-pursuing-hong-kong-listing\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/lawrence-hos-black-spade-acquisition-pursuing-hong-kong-listing\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/lawrence.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/lawrence.jpg\",\"width\":1200,\"height\":675,\"caption\":\"Melco Resorts Chairman Lawrence Ho. 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