City of Dreams Manila expects to attract high rollers within 6 months

The newly-opened City of Dreams Manila is now mainly catering to the Filipino, an official of Belle Corp. said Friday, noting that the casino resort needs at least six months to attract high rollers from abroad, a company official said Friday.

 

"Since soft opening, it's been primarily mass and premium mass [market]. Wala pang VIP from what I understand," Belle Corp., CFO Manuel Gana told reporters during a media briefing at the integrated resort and casino development.

 

Bringing in high rollers rests within the purview of Melco Crown, Gana said. "The timing of that... It's up to Melco as they have management discretion to deal with junket operators. 

 

"But I presume its within that period. I hope its earlier," Gana noted. "That's why ramping up is important, because in the first six months we have a process and that's when we'll be bringing in the VIPs."

 

The $1.3-billion City of Dreams Manila is owned by Melco Crown (Philippines) Resorts Corp. and local partner Premium Leisure Corp., a subsidiary of the Sy-led Belle Corp.

 

Melco Crown (Philippines) is the local unit of Macau-based casino and resorts developer Melco Crown Entertainment Limited of Australian billionaire James Packer and the son of Macau gambling tycoon Stanley Ho.

 

As the second gambling operation to operate in the Philippine Amusement and Gaming Corp.'s (PAGCOR) Entertainment City, City of Dreams Manila went for a soft opening on December 14, 2014. Its grand opening was on February 2. 

 

The other license holders in Entertainment City are Andrew Tan's Travellers International Hotel Group Inc., Kazuo Okada's Tiger Resorts Leisure and Entertainment Inc., and Bloomberry Resorts Corp.

 

The casino and hotel operations are now in full swing, but the retail business is likely to come on board by April.

 

Asked if China's crackdown on gamers will impact its operations, Gana said "... it's an old story" and the development is spared since City of Dreams Manila is an integrated resort.

 

"From what I understand, it does not affect VIPs. VIP junket operators do not use these offices. These offices are like tourists agencies. They try to attract new mass and premium mass customers. Some integrated resorts have tried to side step the issue by not using the word casino or promoting casino operations," he said. "They promote hotels, restaurants, theatrical productions and other entertainment productions."

 

Early this month, the Chinese police said it will fight attempts by foreign casinos to lure its citizens, a move that could deal a blow on gaming operations in Macau and other Asian countries that rely on these high rollers for most of their revenues, Reuters reported.

 

City of Dreams Manila, Melco's first resort-casino outside Macau, is comprised of three hotels, 380 gaming tables, 1,700 slot machines and 1,700 electronic tables. – VS, GMA News