Benito Tan Guat, chairman of Belle Corp, has died, the firm said in a filing on Thursday to the Philippine Stock Exchange.
Belle is an investor in the City of Dreams Manila casino project (pictured) in the Philippines. The firm leases land and buildings for the property on a long-term basis. Belle also realises a share in earnings from City of Dreams Manila’s gaming operations through Belle’s subsidiary Premium Leisure Corp.
Mr Guat was 85, according to his biography on the Belle website.
It said he was also chairman and president of Eastern Securities Development Corp, and the president of Guatson International Travel and Tours.
The election of his replacement on the Belle board will be made by the directors during their next regular meeting, said Thursday’s filing.
Belle’s operating revenue increased by 65 percent year-on-year in 2015, to PHP5.2 billion (US$111.1 million).
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