Melco Crown Entertainment’s Manila super-resort opened on December 14.
City of Dreams Manila, the second of four destination casinos licensed for the Philippine government’s new Entertainment City tourist district, staged the soft opening for the “local market,” said Melco Crown Co-Chairman Lawrence Ho.
The resort, priced at US$1.3 billion at full build-out, will formally launch its first phase in February, Ho said, likely timed to coincide with Chinese New Year, which commences on February 19.
City of Dreams Manila is a joint venture between a PSX-listed subsidiary of Melco Crown—which operates two casinos in Macau and is opening a third in the Chinese gambling hub next year—and a local subsidiary of Philippine billionaire Henry Sy’s retail and property conglomerate SM.
Current plans allocate to the Melco subsidiary all the resort’s profits from hotel and non-gaming operations and call for a split of gaming revenue with its partner.