Melco's Philippines IR partner, Premium Leisure Corp, will build a new casino in Clark
Thursday 18 de July 2024 / 12:00
2 minutos de lectura
(Philippines).-Premium Leisure Corp (PLC), the joint venture partner of Melco Resorts & Entertainment in City of Dreams Manila, is said to be pursuing a new casino resort development in the rising gaming hub of Clark.
According to a report by Reuters, which has cited sources with knowledge of the matter, PLC wants to invest at least US$300 million in any such project and has already applied for a casino license.
Clark, located around two hours north of central Manila, is a former UD military ai base that has emerged as a leading golf and gaming tourism hub. It is already home to seven casinos in Hann Casino Resort, Royce Hotel & Casino, D’Heights Resort & Casino, Casino Plus at Hotel Stotsenberg, Midori Clark Hotel and Casino and Fontana Leisure Parks and Casino, plus the PAGCOR-run Casino Filipino Capital at Xenia Hotel.
The Reuters report claims that PLC’s proposed casino resort would include a convention center and a hotel. It remains unclear whether Melco Resorts would have any stake in PLC’s Clark development although rumors of Melco’s interest in the Clark area have swirled for some time.
PLC, which delisted from the Philippine Stock Exchange only last month, is a subsidiary of real estate Belle Corp. It currently has a revenue share agreement with Melco at City of Dreams Manila, while Melco also pays rent to Belle Corp for use of the land upon which the integrated resort sits.
The PLC proposal, if it becomes a reality, could be one of a number of new casino developments across the Philippines following reports earlier this week that local business tycoon Manuel Villar Jr is looking to open his first casino in 2025 in Las Pinas.
Categoría:Others
Tags: Sin tags
País: Philippines
Región: Asia
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