MACAU-based Melco Crown Entertainment yesterday unveiled City of Dreams Manila, the company’s new integrated resort joint venture with Belle Corporation. It also announced an increased stake in the venture slated to open mid-2014.
A namesake of Melco’s flagship integrated resort in Macau, the US$1.3 billion Philippine property will accommodate three luxury hotels, including the 260-room six-star Crown Towers Hotel, as well as three entertainment venues, one of which will be a nightclub with an international operator.
“We have a strong client base from China, Hong Kong and Macau. Our plan is to attract families to Manila,” said Melco’s co-chairman Lawrence Ho, highlighting the resort’s intent to also position itself as a family-themed resort.
“We plan to bring in customers where Macau is the backyard…using private jets and helicopters. We have the biggest direct VIP network in Macau – a segment called Premium Direct – and we have the biggest database (in Macau),” added Ho.
Ho said Melco has also brought in junket operators to look at the project in its early stages.
The Philippine Amusement Gaming Corporation, a state-owned gaming license operator, has allowed Melco Crown Philippines (MCP), operator of the resort, to expand its gaming licence to include more gaming tables, slot machines and electronic table games upon opening, compared to its previous anticipated allotment.
Melco Entertainment will be upping its investment in the project from US$620 million to US$680 million as a result of these new development plans.
The project is a rebranding of Belle Corp’s own integrated resort project, Belle Grande Manila Bay, which was in search of funding (TTG Asia e-Daily, June 16,2011).
