Belle Corp. is hoping that Macau-based Melco Resorts & Entertainment will operate its planned hotel and casino project in Clark Freeport, Pampanga, a top executive said.
Informed sources said Melco may not be willing to invest in Belle’s second integrated resort project after reporting plans to sell its stake in City of Dreams Manila, but it could still be Belle’s management partner for the project.
“We are hoping that they [Melco] will still manage the casino,” the Belle official said, while requesting not to be named.
Melco announced in February it was evaluating “potential strategic alternatives” in relation to its stake in CoD Manila.
Sources said Melco plans to sell its stake in CoD Manila as it explores plans to invest in Thailand, which is in the process of legislating a bill that would allow casinos to be set up within tourism complexes.
Belle, through its unit Premium Leisure Corp., applied for a casino license in Clark in 2024. However, state-owned Philippine Amusement and Gaming Corp. (PAGCOR) has yet to approve the license.
Belle said earlier it remained bullish on the Philippine gaming sector despite industry headwinds.
The company said it continues to explore and pursue related ventures and high-growth opportunities in the gaming space to enhance shareholder value.
Under the plan, the company will develop a $300-million hotel and casino within its property in Clark, north of Manila.
This will be Belle’s second integrated resort and casino after the $1-billion CoD Manila, which opened in 2015.
Aside from CoD Manila, Belle also owns real estate assets in the Tagaytay Highlands, Midlands and Greenlands complexes where it develops premium residential resort projects. It also holds majority proprietary shares in its exclusive club and golf facilities.