• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Belle hires CLSA to study partial sale of Sinophil

Aug 18, 2014 Newsdesk Latest News, Philippines, Top of the deck  


Belle hires CLSA to study partial sale of Sinophil

Philippine-listed Belle Corp announced on Monday the company has hired Hong Kong-based brokerage firm CLSA Ltd to “study the feasibility” of the company selling “a portion” of its current equity ownership in Sinophil Corp “at some future date, subject to market conditions”.

“CLSA has been tasked to study the feasibility of such sale of shares and, if feasible, to study options to optimise the liquidity of the Sinophil shares and maximise value to Belle’s shareholders,” Belle said in a filing to the Philippine Stock Exchange.

Belle last month confirmed it was looking into increasing public ownership in Sinophil, the unit that will hold its gaming investments. The firm controls close to 90 percent of Sinophil’s shares.

“We feel it’s not necessary to own 90 percent. We think 67 to 70 percent is good enough for us,” Willy Ocier, Belle’s vice chairman and also chairman of Sinophil, told GGRAsia in July.

The company announced in June it would reorganise its gaming assets under subsidiary Sinophil, a separate listed entity. The reorganisation was due to be finished this month.

The group’s gaming assets include its 100 percent ownership of Premium Leisure and Amusement Inc and its shares representing 34.5 percent of online lottery system provider Pacific Online Systems Corp.

Premium Leisure and Amusement is part of the consortium that holds a gaming licence for casino resort City of Dreams Manila (pictured in an artist’s rendering). The other partner is Melco Crown (Philippines) Resorts Corp, a subsidiary of Macau-based Melco Crown Entertainment Ltd.

The US$1.2-billion casino resort will feature up to approximately 365 gaming tables, 1,680 slot machines and 1,680 electronic table games upon opening. The property is scheduled to open in the fourth quartet of this year in Manila’s Entertainment City. It will be operated by Melco Crown Philippines.

Sinophil is also changing its name to Premium Leisure Corp.

Belle is controlled by SM Group, headed by Henry Sy, patriarch of what according to Forbes magazine, is the Philippines’ richest family.


  • tweet
Related articles
  • Tak Chun execs knew illicit to settle proxy in Macau: trial
    Tak Chun execs knew illicit to settle...

    Jan 31, 2023  

  • Pagcor 2022 income up 66pct y-o-y, tops US$1bln
    Pagcor 2022 income up 66pct y-o-y, tops...

    Jan 31, 2023  

More news
  • Macau ops track earlier recovery after Jan GGR: analyst
    Macau ops track earlier recovery after...

    Feb 01, 2023  

  • Prominent locals speak in court for Tak Chun boss Levo Chan
    Prominent locals speak in court for Tak...

    Feb 01, 2023  


Latest News

Macau ops track earlier recovery after Jan GGR: analyst

Macau ops track earlier recovery after Jan GGR: analyst

Feb 01, 2023  

Most of Macau’s casino operators are likely to generate positive free cash flow in the first quarter, given the robust recovery level of mass-market gross gaming revenue (GGR) in January, relative...
Read More
Prominent locals speak in court for Tak Chun boss Levo Chan

Prominent locals speak in court for Tak Chun boss Levo Chan

Feb 01, 2023  

January travel lift, CNY sees Macau GGR up 233pct m-o-m

January travel lift, CNY sees Macau GGR up 233pct m-o-m

Feb 01, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Momentum is expected to grow as mainland China recently reopened its borders, and this presents a substantial growth potential for us as historically a large portion of our clientele came from China”

Porntat Amatavivadhana

Non-executive chairman of Donaco International



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPMMacau CNY mass GGR maybe 60pct plus of CNY 2019: JPM January 31, 2023
  • January travel lift, CNY sees Macau GGR up 233pct m-o-mJanuary travel lift, CNY sees Macau GGR up 233pct m-o-m February 1, 2023
  • Chinese comeback limited impact on Singapore IRs: bankChinese comeback limited impact on Singapore IRs: bank January 31, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us