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Belle Corporation, the Philippines-listed parent of Premium Leisure Corp, has clarified that Premium Leisure has applied for a new casino licence.
The confirmation was made in response to media queries regarding the speculation that subsidiary, Premium Leisure, has plans for a new casino on former air base land in Clark City.
Belle stated that Premium Leisure has applied for a gaming licence from government regulators. However, any plans, whether investments or project development, are still too preliminary at this point, especially regarding said casino within Clark City in Central Luzon, considering that the application for licence has yet to be acted on.
The company said it will make the appropriate disclosures once any decisions have been made and confirmed.
Premium Leisure is the co-licensee of City of Dreams Manila, operated by Melco Resorts and Entertainment in Entertainment City, Manila itself. Alongside City of Dreams are Solaire by Bloomberry, Newport World Resorts by Travellers Inc, Westside City by Suntrust and Okada Manila by Tiger Leisure.
While Premium Leisure has only applied for a licence now, Clark City already has existing integrated resorts. Hann Resorts is one of them, having announced its plans for IPO in the near future. Hann Resorts’ IPO, valuing up to PHP20bn (US$342.2m), could be the largest maiden share sale in the Philippines since MREIT’s PHP15bn (US$260m) IPO in 2021.
