Hann Resorts considering IPO listing

Hann Resorts [HANN] [link] is rumored to be exploring a possible IPO of its casino resort business. HANN is owned by Hann Philippines Inc., which is in turn owned by Dae Sik Hann, a South Korean businessman. HANN operates a casino resort complex in the Clark Freeport called Hann Casino Resort with 960 slot machines, 199 table games, 40 electronic games, and three hotels. HANN is developing another location, called Hann Reserve, in New Clark City that it bills as a “luxury estate development.” The InsiderPH report quotes sources as saying, “This company has strong connections to a growing Korean population plus proximity to an international airport for tourists.”

MB bottom-line: As the InsiderPH report points out, gaming and renewables are hot, so it looks like Mr. Hann could try to make some hay while the sun is shining on the sector. There isn’t a lot of detail at this point about what the deal could look like, or what HANN might do with the money raised. Is it needed to complete the construction of the Hann Reserve location, or is this part of a wider HANN plan to expand its footprint with additional locations or integrations? The sources didn’t provide a timeline, so this gives off 2025 vibes. It also gives off strong “market conditions” vibes. 

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