Belle Corp. vice chairman Willy Ocier told reporters following the company’s annual stockholders meeting this week they were applying for approval from gaming regulator Philippine Amusement and Gaming Corp. (Pagcor) to open a second integrated resort.
"We are applying for a second IR but we have not identified the site yet. We are also looking at neighboring sites to expand. Any expansion would have to be approved by Pagcor,” Ocier said. He added they were also working on the expansion of the first site located within the Pagcor Entertainment City.
The executive said Belle owns an 8,000sqmt property just a stone’s throw away from City of Dreams Manila, which the company could use to build additional non-gaming facilities. "It could be retail, hotel or office space,” Ocier added.
PLC has an operating agreement with Melco Crown Entertainment Limited (MCE) that accords it a share of gaming revenues or earnings at City of Dreams Manila.
The company reported a net income of US$ 62 million last year, significantly higher than the US$ 26 million earned in 2015. Belle president Manuel Gana said the strong growth in income was driven by revenues from City of Dreams Manila.
Source: GMB / Philstar.com
