• 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
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Philippines’ Belle reorganises gaming assets

Jun 02, 2014 Newsdesk Latest News, Philippines, Top of the deck  


Philippines’ Belle reorganises gaming assets

Philippine-listed Belle Corp announced on Monday it will reorganise its gaming assets under a separate listed entity.

The board of directors of Belle Corp approved on Monday morning a corporate re-organisation plan, under which the company will inject 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 into Sinophil Corp, a subsidiary of Belle that is already listed on the Philippine Stock Exchange.

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

Belle said in a statement it would retain direct ownership of the land and building of City of Dreams Manila, for which it will continue to receive rental income.

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 next October in Manila’s Entertainment City. It will be operated by Melco Crown Philippines.

Belle’s reorganisation is forecast to be completed on or about August 2014.

The company will meanwhile realign its operations primarily on real estate development. It will aacquire the non-gaming related assets of Sinophil.

Belle is controlled by SM Group, headed by Henry Sy, patriarch of the Philippines’ richest family.


  • tweet
Related articles
  • Sci Games says ‘Singing Cats’ nodded in 9 APAC markets
    Sci Games says ‘Singing Cats’...

    Jan 27, 2021  

  • TCS John Huxley installs Blaze products at Okada Manila
    TCS John Huxley installs Blaze...

    Jan 26, 2021  

More news
  • Macau has 77 junket rooms, 1,566 VIP tables says govt
    Macau has 77 junket rooms, 1,566 VIP...

    Jan 28, 2021  

  • Dec hotel occupancy highest since Jan 2020: Macau govt
    Dec hotel occupancy highest since Jan...

    Jan 28, 2021  


Latest News

Macau has 77 junket rooms, 1,566 VIP tables says govt

Macau has 77 junket rooms, 1,566 VIP tables says govt

Jan 28, 2021  

Macau’s current VIP gambling sector – involving 85 licensed gaming promoters – has “77 gaming rooms” and “1,566 gaming tables”, said the Macau government official with oversight of the...
Read More
Dec hotel occupancy highest since Jan 2020: Macau govt

Dec hotel occupancy highest since Jan 2020: Macau govt

Jan 28, 2021  

Studio City may seek fresh liquidity says research firm

Studio City may seek fresh liquidity says research firm

Jan 28, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"I believe that when Macau makes a decision, there is going to be a requirement to invest more"

Robert Goldstein

Chairman and chief executive of Las Vegas Sands



Most Popular

  • China said to be expanding blacklist for overseas gamblingChina said to be expanding blacklist for overseas gambling January 27, 2021
  • China diplomats warn nationals not to gamble in CambodiaChina diplomats warn nationals not to gamble in Cambodia January 27, 2021
  • Digital yuan eventually for Macau mass bets mulls BernsteinDigital yuan eventually for Macau mass bets mulls Bernstein January 22, 2021
  • Okada Manila warns against online casino, sale rumoursOkada Manila warns against online casino, sale rumours January 25, 2021
  • Cotai expansion to aid Macau EBITDA to 2019 level: CICCCotai expansion to aid Macau EBITDA to 2019 level: CICC January 26, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us