Belle Corporation, the publicly listed entity in the Philippines and parent company of Premium Leisure Corp, has officially clarified recent media speculation regarding its subsidiary’s plans for a new casino. This statement comes in response to growing interest and inquiries about a potential new casino on former air base land in Clark City.
Current Situation: Premium Leisure’s License Application
According to Belle Corporation, Premium Leisure has submitted an application for a new gaming license from relevant government regulators. This move has sparked significant speculation about future investments and developments, particularly in the Clark City area located in Central Luzon. Despite these advancements, Belle Corporation emphasizes that any plans for a new casino remain in the preliminary stages.
Clark City: An Overview of Existing and Potential Developments
Clark City, known for its rapid development and emerging economic opportunities, already hosts several integrated resorts. Among these, Hann Resorts stands out. Hann Resorts, which is preparing for an initial public offering (IPO), could significantly impact the local investment landscape. The proposed IPO is expected to raise up to PHP20 billion (US$342.2 million), potentially marking it as the largest maiden share sale in the Philippines since MREIT’s PHP15 billion (US$260 million) IPO in 2021.
Premium Leisure’s Current Role in the Gaming Sector
Premium Leisure Corp, a key player in the Philippines’ gaming industry, is the co-licensee of City of Dreams Manila. This resort and casino complex is operated by Melco Resorts and Entertainment and is situated in Entertainment City, Manila. Other major integrated resorts in Manila include Solaire by Bloomberry, Newport World Resorts by Travellers Inc, Westside City by Suntrust, and Okada Manila by Tiger Leisure.
Future Prospects and Developments
While the license application process for the new casino in Clark City is underway, Belle Corporation has stressed that no concrete decisions or developments have been confirmed yet. The company has assured stakeholders that it will provide further updates and disclosures once more definitive information is available.
The speculation surrounding Premium Leisure’s plans for a new casino in Clark City highlights the ongoing dynamic nature of the Philippine gaming and resort industry. With existing resorts like Hann Resorts poised for significant financial moves and other established players continuing to thrive, Clark City remains a key area of interest for future developments. Belle Corporation’s commitment to transparency will be crucial as the situation evolves.