GGRAsia – No opening date yet for CoD Manila: Melco Crown

No opening date yet for CoD Manila: Melco Crown

Sep 29, 2014 Newsdesk Latest News, Philippines, Top of the deck

Melco Crown (Philippines) Resorts Corp on Monday said there is not yet any opening date for its casino resort City of Dreams Manila (pictured in an artist’s rendering).

“Please be informed that aside from previous disclosures to the exchange stating that City of Dreams Manila is set to open this year, there is nothing fixed or concrete to report at this time,” Melco Crown Philippines said in a filing to the Philippine Stock Exchange.

The clarification came after a media report on Monday quoted Willy Ocier, chairman of listed Premium Leisure Corp, as stating in a text message that the property would open in November, with around 80 percent of its hotel rooms available.

Premium Leisure controls Premium Leisure and Amusement Inc. The latter is part of the consortium that holds the gaming licence for City of Dreams Manila. The other partner is Melco Crown Philippines, a subsidiary of Macau-based Melco Crown Entertainment Ltd.

Premium Leisure is majority owned by Belle Corp, a firm controlled by SM Group, headed by Henry Sy, patriarch of what according to Forbes magazine is the Philippines’ richest family.

Melco Crown Philippines said in Monday’s filing it would disclose updates on the opening date of City of Dreams Manila “when a material event occurs”.

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, located at Manila’s Entertainment City, will be operated by Melco Crown Philippines.

GGRAsia had contacted Belle’s executive vice president Manuel Gana about the news report. Mr Gana however redirected us to Melco Crown Philippines. “As our operating partner for City of Dreams Manila, they are responsible for scheduling the opening date and related details,” he said in an emailed reply.