Melco Crown has announced that it will be raising funds in the vicinity of $200 million in a Nasdaq share sale to help repay debt. The company which is a partnership between James Packer and the son of Macau gambling billionaire Stanley Ho, is the owner of the new City of Dreams casino in Macau and also the Altira casino.

With Macau currently experiencing a recession in the form of lower gambling patronage and visiting restrictions from mainland China, Melco Crown is looking to raise funds to ensure solvency and that creditors are paid.

Since it's opening City of Dreams has had to constantly reforecast it's projected earnings with constant downgrades. Although it has opened with much fanfare, gamblers have yet to fully cross over to the City of Dreams, many still gambling at the competitors around the island.

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