Melco-SM Group ushers in City of Dreams Manila

MANILA, Philippines - Macau-based casino giant Melco Crown Entertainment Ltd. is tapping a world-class brand for its $1.3-billion integrated casino project in the Philippines.

The casino owner and operator is banking on attracting its wide network of Asian high rollers for its first project outside Macau, its top executive said yesterday.

Melco Crown co-chairman and CEO Lawrence Ho said the company is bringing its highly successful City of Dreams brand to the Philippines.

“City of Dreams Manila will herald a new era of entertainment in Manila and will provide visitors with an exceptional world-class gaming and entertainment experience, delivering international standards of retail, food and beverage, and hotel amenities, together with diverse and innovative lifestyle and entertainment offerings,” he said.

Melco Crown announced yesterday  that its integrated casino project in the country will be named City of Dreams Manila, replacing its former name Belle Grande.

City of Dreams Macau is famous for its world-class gaming and entertainment offerings including House of Dancing Water Show and party place Club Cubic.

City of Dreams, which will start commercial operations in July next year, will offer 365 gaming tables, 1,680 slot machines and 1,680 electronic table games. Previously, the casino planned to offer only 242 gaming tables and 1,450 electronic gaming machines.

Melco Crown also introduced the first of three hotels to rise in the casino project: the six-star, 260-room Crown Towers hotel.

“The addition of the Crown Towers hotel brand in Manila is another example of Crown’s strong relationship with Melco Crown and recognition of the unique opportunity City of Dreams Manila offers to further expand the Crown brand throughout Asia,” said Melco Crown co-chairman James Packer.

Melco Crown wants to entice foreign high rollers to visit the Philippines.

“We have a strong client and customer base originating from China, Hong Kong and Macau,” Ho said.

“The plan is to attract a portion of those players with their families to Manila,” he added.

Local subsidiary Melco Crown (Philippines) Resorts Corp. has increased its capital spending for City of Dreams Manila to $680 million from $620 million, Ho said.

It will be the second casino complex to open at the Philippine Amusement and Gaming Corp.’s 120-hectare Entertainment City, which is groomed to become the Philippines’ version of the Las Vegas strip. In March, port mogul Enrique Razon opened the $1.2-billion Solaire Casino & Resort.

Ho said Melco Crown has the biggest direct VIP network in Macau and is working with junket operators to attract foreign gamers.

“Given the expertise we have with our junket partners in Macau, we’re very encouraged that between them and our own customer base, there will be no lack of demand,” he said.

It will be Melco Crown’s first casino outside Macau where it operates the City of Dreams and Altira Macau casinos.

The project is also the first gaming venture of the Sy family, whose flagship company SM Investments Corp. is involved in five core businesses – retail merchandising, mall operations, property, banking, and hotel and leisure.