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Tag Archives: City of Dreams Manila

Philippines – SM Investments buys into City of Dreams Manila

Melco Crown has got a new partner for its City of Dreams casino resort in the Philippines. SM Investments, a company owned by the Sy Family in Manila, has bought a controlling stake in Premium Leisure Corp for US$6.4 m, which owns half of City of Dreams Manila resort. SM is one of the largest…

Philippines – Nomura tips growth for City of Dreams Manila

Japan-based credit analyst Nomura is expecting good things from City of Dreams Manila when it reports its fourth quarter results for 2016 due to resilient junket and VIP demand. Nomura Analysts Harry Curtis, Daniel Adam and Brian Dobson all predicted that the overall demand in the Manila gaming market ‘may continue to increase more than…

Philippines – City of Dreams paying off in Manila

Belle Corp. is ten per cent ahead of last year’s figures having improved its net profit in the first six months of the year by that amount. Net profit reached P917m (US$19.5m) due to the improved performance of City of Dreams Manila. The company stated: “Premium Leisure Corp’s gaming income share for the first half…

Philippines – Philippine operators predict rebound in 2016

Mirroring the spectacular nosedive by Macau’s casino sector, decline in the Philippine gaming market has seen share prices for local operators slashed by half. First Metro Investment Corp. (FMIC) believes that tightly aligned to the Macau sector, the Philippine slump is set to continue. In a report, FMIC said: “Listed Philippine casino and hotel operators…

Philippines – City of Dreams Manila lays off 100 staff

Melco Crown Entertainment is suspending 100 workers to compensate for a wider net loss in the first half of the year at its City of Dreams Manila property in Philippines. Charisse Chuidian, Vice President for Public Relations, said: “With the gaming business not ramping up since City of Dreams Manila soft opened in December last…

Philippines – Philippine stocks plummet due to Chinese crackdowns

Macau hasn’t been the only place hit by China’s crackdown on corruption and austerity with operators in Manila’s Entertainment City losing market value. Melco Crown and Bloomberry Resorts have both been hit hard with JPMorgan Chase & Co. predicting that profits will fall across the Philippines by 56 per cent in 2016. Shares in Bloomberry,…

Philippines – City of Dreams diversifies with DreamWorks opening

The world’s first DreamWorks-themed, indoor interactive play and creativity center, ‘DreamPlay by DreamWorks’, celebrated its official opening at City of Dreams Manila to great fanfare involving excited children and beloved DreamWorks animated characters, together with a stellar line-up of VIP celebrity parents. Lawrence Ho, co-chairman and CEO of Melco Crown Entertainment was joined by DreamWorks…

Philippines – Asia’s first Nobu Hotel opens at City of Dreams Manila

Academy Award winning actor Robert De Niro and world-renowned Japanese culinary genius Chef Nobu Matsuhisa joined Hollywood producer Meir Teper, Melco Crown Entertainment’s visionaries Co-Chairman and CEO Mr. Lawrence Ho and Co-chairman Mr. James Packer along with a glittering array of entertainment stars, socialites and other VIP guests at the official opening of Asia’s very…

Philippines – City of Dreams Manila issued licence until 2033

Melco Crown’s City of Dreams Manila has become the first property in Entertainment City to receive the regular gaming license from the Philippine Amusement and Gaming Corporation (PAGCOR) for having met the minimum US$1bn investment under PAGCOR’s regular license requirement. On May 4, 2015, PAGCOR’s President and COO, Jorge Sarmiento presented the regular gaming license…