Belle Corporation, the Philippines-listed parent of Premium Leisure Corp, has confirmed Premium Leisure’s application for a new casino license. This move dismisses recent speculations about the subsidiary’s plans for a new casino establishment.
New casino license application
The application has sparked considerable interest within the gaming community, given the strategic significance of the potential new site. Media inquiries had been mounting regarding Premium Leisure’s intentions for the former air base land in Clark City.
Belle Corporation addresses speculations
Belle Corporation responded promptly to these media queries, providing clarity on the matter. The company stated that Premium Leisure is indeed seeking to expand its operations, but more details about the project remain undisclosed.
Strategic importance of Clark City
Clark City, known for its historical importance and infrastructure, offers a compelling location for new investment in the gaming sector. The region’s development into a bustling economic zone underscores its attractiveness for enterprises looking to tap into new market opportunities.
Potential market implications
Market analysts believe that the opening of a casino in Clark City could significantly bolster the local economy. The influx of tourists and gaming enthusiasts is expected to fuel various related sectors such as hospitality, retail, and entertainment.
Past achievements of premium leisure
Premium Leisure Corp, through its previous ventures, has established a reputation for excellence in the casino and gaming industry. The firm’s portfolio includes successful projects that have contributed to its robust financial performance and market presence.
Future prospects
Industry experts are keenly observing how this new venture pans out, considering the competitive landscape in the Philippines casino market. The introduction of a new player in Clark City could trigger a wave of developments and investments in the region.
Regulatory approval process
The next steps involve regulatory scrutiny and approval, which are crucial for the project’s initiation. Belle Corporation and Premium Leisure will likely provide further updates as the approval process progresses.
Preliminary plans await approval
Despite this development, the company’s plans, including potential investments and project developments, remain in their early stages. As of now, specifics regarding the casino project in Clark City, situated in Central Luzon’s vibrant landscape, are not yet finalized.
Awaiting license approval
The application for the gaming license is still under consideration by the pertinent authorities. This step is crucial before any concrete plans can materialize.
Future announcements
Premium Leisure Limited reassured stakeholders that appropriate disclosures will be made once definitive decisions are reached and confirmed. This ensures transparency and keeps interested parties well-informed of any progress.
Premium Leisure Corporation stands as the co-licensee of the luxurious City of Dreams Manila, a premier gaming and entertainment complex managed by Melco Resorts and Entertainment. Situated in Entertainment City, Manila, this opulent venue is a hotspot for both tourists and gaming enthusiasts.
Exclusive neighboring resorts
Besides City of Dreams, Entertainment City is home to several other world-class resorts and casinos that contribute to Manila’s reputation as a leading entertainment destination in the region. These include:
- Solaire Resort & Casino by Bloomberry;
- Newport World Resorts by Travellers International Hotel Group;
- Westside City Resorts World by Suntrust;
- Okada Manila by Tiger Resort Leisure and Entertainment;
City of Dreams Manila: unparalleled entertainment
City of Dreams Manila offers an exceptional array of entertainment options. Within its walls, guests can experience a vast gaming floor featuring hundreds of table games and slot machines, luxury accommodations, fine dining restaurants, and world-class amenities.
In addition to the gaming spectacle, City of Dreams boasts an array of non-gaming attractions designed to captivate visitors of all ages, including:
- DreamPlay by DreamWorks – A family entertainment center;
- Nobu Hotel and Restaurant – The epitome of luxury and culinary excellence;
- The Shops at The Boulevard – A high-end retail experience;
- Pangaea and Chaos Nightclubs – Trend-setting nightlife destinations;
Resorts operating in entertainment city
| Resort Name | Operator |
|---|---|
| City of Dreams Manila | Melco Resorts and Entertainment |
| Solaire Resort and Casino | Bloomberry |
| Newport World Resorts | Travellers International Hotel Group |
| Westside City Resorts World | Suntrust |
| Okada Manila | Tiger Resort Leisure and Entertainment |
Entertainment City, Manila, is a thriving hub of opulent resorts and casinos, each providing a unique experience that caters to various tastes and preferences. From world-class gaming floors to lavish accommodations and exciting entertainment options, these resorts offer unparalleled luxury and excitement.
While Premium Leisure has only just applied for a license, Clark City is already home to several existing integrated resorts.
Hann Resorts IPO plans
Among the notable establishments is Hann Resorts, which has recently announced its plans for an initial public offering (IPO) in the near future.
Valuation and milestones
The upcoming IPO for Hann Resorts is projected to be valued at up to PHP20bn (US$342.2m), making it a potential record-breaker in the Philippines.
Market comparison
If successful, this would mark the largest maiden share sale in the country since MREIT’s PHP15bn (US$260m) IPO in 2021.
