• 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

CoD Manila local partner eyes stake in Melco Philippines

May 18, 2018 Newsdesk Latest News, Philippines, Top of the deck  


CoD Manila local partner eyes stake in Melco Philippines

Asian casino investor Melco Resorts and Entertainment Ltd is in “preliminary discussions” that could lead to its Philippine partner at the City of Dreams Manila casino resort (pictured) taking an equity stake in the local Melco Resorts operating unit.

Melco Resorts’ Manila operating unit, locally-listed Melco Resorts and Entertainment (Philippines) Corp, stated in a filing to the Philippine Stock Exchange it had been notified of the talks by its parent company.

The potential deal would be between Melco Resorts, and Philippine firm Premium Leisure Corp, “whereby Premium Leisure Corp or its affiliated entities may become equity holders of Melco Resorts Philippines,” said the announcement on Friday.

Premium Leisure Corp is a unit of Belle Corp, which is the landlord of the City of Dreams Manila site.

Affiliated entities of Premium Leisure Corp have an operating agreement with an entity called Melco Resorts Leisure (PHP) Corp, the subsidiary of Melco Resorts Philippines which operates the casino business of City of Dreams Manila. Under the arrangement, Premium Leisure Corp is entitled to whichever of the following is the greater: either 50 percent of Melco Resorts Philippines’ gaming earnings before interest, taxation, depreciation and amortisation (EBITDA) after deducting a 7-percent incentive fee paid to Melco Resorts; or 15 percent of net win in the mass-market segment plus 5 percent of net win in the VIP segment.

In late April Belle Corp reiterated a 2017 proposal to expand City of Dreams Manila. According to local media reports in April, a one-hectare (2.5-acre) plot next to City of Dreams Manila and held by Belle Corp would be used mainly to create new non-gaming facilities, including hotel accommodation.

Manuel Gana, president of Belle Corp, was quoted as saying at the time that were the casino firm to decline involvement in expansion, Belle Corp would be “free to do something else.”


  • tweet
Related articles
  • APE installs Konami slots at City of Dreams, Mocha Clubs
    APE installs Konami slots at City of...

    Jun 08, 2022  

  • Studio City new attraction for families open June 30
    Studio City new attraction for families...

    Jun 07, 2022  

More news
  • Covid-19 test certificate to enter Macau casinos
    Covid-19 test certificate to enter...

    Jun 27, 2022  

  • Parisian quarantine hotel as Macau Covid cases near 360
    Parisian quarantine hotel as Macau...

    Jun 27, 2022  


Latest News

Covid-19 test certificate to enter Macau casinos

Covid-19 test certificate to enter Macau casinos

Jun 27, 2022  

Macau’s health authorities said on Sunday that they would require all people wishing to enter the city’s casinos not only to have their body temperature measured and to display a...
Read More
Parisian quarantine hotel as Macau Covid cases near 360

Parisian quarantine hotel as Macau Covid cases near 360

Jun 27, 2022  

Maybe new Macau mass Covid test, community spread still

Maybe new Macau mass Covid test, community spread still

Jun 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


357

The aggregate number – as of end of Sunday – of confirmed infections in Macau linked to the most serious Covid-19 outbreak impacting the city since the start of the pandemic in 2020



Most Popular

  • Maybe new Macau mass Covid test, community spread stillMaybe new Macau mass Covid test, community spread still June 24, 2022
  • Blackstone clinches US$6.15bln takeover of Crown ResortsBlackstone clinches US$6.15bln takeover of Crown Resorts June 24, 2022
  • Parisian quarantine hotel as Macau Covid cases near 360Parisian quarantine hotel as Macau Covid cases near 360 June 27, 2022
  • Covid-19 test certificate to enter Macau casinosCovid-19 test certificate to enter Macau casinos June 27, 2022
  • Jeju still studying online gaming for its casinos: govtJeju still studying online gaming for its casinos: govt June 24, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us