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Belle Corporation denies plans to acquire Melco’s stake in City of Dreams Manila, countering recent news reports. Belle Corporation has made it clear they have no plans to buy Melco Resorts & Entertainment's stake in City of Dreams Manila any time soon. This comes in response to a Philippine Stock Exchange request for details about a  news report . What Is Melco Planning For City of Dreams?  An Inquirer.net column suggested that Melco might be planning to leave the Philippines and shift into an “asset-light” approach. The “unnamed source” in the report said Belle would buy if “the price is right.”  Analysts earlier suggested for Melco to sell its City of Dreams   property in the Philippines so it could focus on an expansion in Thailand. Melco is among the throngs of casino giants considering an investment at the Land of Smiles. While this has been said, Melco, over the weekend also maintained that it has not decided on any “strategic alternative” regarding these properties. “Melco does not intend to comment on or provide updates in relation to this process unless and until it determines that further disclosure is appropriate or required,” its statement, filed in NASDAQ, read.  Belle Corporation Role With City of Dreams Manila Belle owns the land and buildings where City of Dreams Manila sits. They rent this property to Melco Resorts & Entertainment, who runs the casino resort. Belle collects rent money from this deal. Belle also owns a company called Premium Leisure and Amusement Inc. (PLAI). This company has a license from PAGCOR (the Philippine gaming regulator) that gives Belle the right to get a share of the money made from casino games. This is the set up for a lot of casino deals in the Philippines.  Belle’s Response In a filing , Belle stated they "cannot confirm" if Melco plans to leave the Philippines. They also clarified that buying Melco’s stake "is not part of Belle’s plans for now." Their statement directly disputes the news report’s claims. According to Belle in their filing, "Please be advised that while Belle is not in a position to confirm the accuracy of the statements about a possible exit of Melco from the Philippines, it can confirm that any buy-out of Melco’s interests in COD Manila is not part of Belle’s plans for the immediate future.”  What It Means Belle’s wording suggests they aren’t looking to take over Melco’s business at this time. However, they haven’t ruled it out for the future. If a deal happens, it would require approval from PAGCOR and other regulators.   Belle wants to shut down rumors and make it clear they have no immediate plans for major casino deals. Investors should note that Belle’s position contradicts the news report. Read related article:   Melco Urged to Sell Philippines, Cyprus Properties

Melco Resorts & Entertainment explores new opportunities for City of Dreams Manila, aiming to enhance its offerings and expand its presence in the gaming industry. Melco Resorts & Entertainment is exploring new possibilities for its City of Dreams Manila property, according to a company announcement released on February 27, 2025. The casino operator has hired CBRE Capital Advisors and Moelis & Company as financial advisors to help evaluate different options for the Manila resort. "Melco has retained CBRE Capital Advisors, Inc. and Moelis & Company LLC as financial advisors to assist in the process of exploring potential strategic alternatives for City of Dreams Manila," the company stated in its announcement. Will Selling ‘City of Dreams’ Manila Be The Option?  Melco Resorts Leisure, a Melco subsidiary, currently runs City of Dreams Manila through an operating agreement with PremiumLeisure and Amusement, Inc. and other Melco subsidiaries. Analysts earlier suggested for Melco to sell the City of Dreams property if it was pursuing its plans to build an entertainment complex in Thailand.  “Outside Macau, the Philippines (City of Dreams Manila) continues to generate cash but lacks real growth dynamics due to increasing Manila competition, while Cyprus has been a disappointment partly due [the conflicts in] Russia and Israel,” analyst Vitaly Umansky said in a late January note.  No Decision For City of Dreams Property Yet While options to sell the property, find a partner, or change its ownership setup have been floated, the company says no decision has been made for the future of these properties.  "There is no guarantee this will lead to any deal," Melco stated, adding that updates will be given only if needed. What are Melco’s Financial Results For 2024?  This announcement comes as Melco reports mixed financial results. The company posted a PHP2.42 billion (USD 43.5 million) profit in 2024, recovering from a PHP18.9 billion (USD 326.9 million) loss in 2023. However, its fourth-quarter earnings declined despite revenue growth. The review hints that Melco is rethinking its investments in Asia and Europe to boost profits. Industry watchers are looking at Melco’s future plans,  as City of Dreams Manila remains a major player in Philippine gaming. Read related article:   Casino of City of Dreams Sri Lanka to Open in Q3 2025

Melco Resorts posts a profit for 2024 despite Q4 losses, while Genting Malaysia struggles with rising costs, declining margins, and a dividend cut. Two major Asian casino operators reported falling Q4 earnings despite different yearly outcomes, showing an unsteady recovery in the gaming sector. Melco Achieves Full-Year Profit Despite Q4 Setback Melco Resorts bounced back from 2023 losses, earning PHP2.42 billion (USD 43.5 million)  in 2024, even after a rough fourth quarter. The company faced a PHP1.13 billion (USD 20.3 million)  loss in Q4. While this marked a big improvement from its PHP11.47 billion (USD 206.3 million)  loss a year earlier, it reversed the PHP1.52 billion (USD 27.4 million)  profit from Q3. Revenue hit PHP66.30 billion (USD 1.19 billion)  in Q4, up 8.9% from 2023. But adjusted EBITDA dropped 2.6% year-over-year to PHP16.46 billion (USD 295.4 million)  and fell 8.4% from Q3. Higher staffing costs for better service reduced profits. The company is working to gain market share in Macau and attract big spenders to its Studio City property. Major Roadblocks for Genting Malaysia Genting Malaysia faced much bigger challenges. Its Q4 adjusted EBITDA plunged 79% to PHP2.28 billion (USD 40.9 million)  due to: Rising payroll expenses Shrinking profit margins Currency losses The company's annual revenue grew 7% to PHP134.35 billion (USD 2.41 billion) , but it suffered a PHP4.62 billion (USD 83 million)  loss in Q4, causing yearly profit before tax to fall by 28%. Investors were surprised when Genting Malaysia cut its dividend by more than half. The company plans to save costs and improve marketing while staying “cautiously optimistic.” Genting Malaysia runs Resorts World Genting , Malaysia’s only legal casino. With a predominantly Muslim population, gambling is considered taboo ( haram , or prohibited by religion). What’s The Plan for Genting and Melco? Melco aims to draw more visitors by bringing back "The House of Dancing Water,"  while Genting Malaysia is adding new attractions at Resorts World Genting . Both are dealing with rising costs while trying to attract high-spending players. Two major Asian casino operators reported falling Q4 earnings despite different yearly outcomes, showing an unsteady recovery in the gaming sector. Read related article:   Melco Urged to Sell Philippines, Cyprus Properties

Marina Bay Sands secures an $8.9 billion credit facility to refinance debt and support its ambitious expansion, strengthening its position in the gaming industry. Singapore’s Marina Bay Sands secured an impressive PHP 515 billion (US$8.9 billion) credit facility to support its expansion plans making it one of the city-state's two integrated resorts. Las Vegas Sands acted as intermediary to secure the financing agreement between DBS Bank and several lending institutions. The funds will be allocated for debt refinancing and will also meet the resort’s operational needs and expansion objectives. READ: Marina Bay Sands Expansion Budget Now At $9B Visitors and VIP gamblers will experience new attractions together with improved facilities for an enhanced luxurious stay. Through this financial stabilization, LVS has secured Marina Bay Sands' standing while establishing its long-term competitive edge in the region's thriving gaming and hospitality industry. READ:   Completion of Marina Bay Sands Expansion Delayed to 2031 READ: Las Vegas Sands to Invest $8B in Marina Bay Sands Expansion About the Marina Bay Sands Expansion:  The expansion of Marina Bay Sands gained media attention because it includes a fourth tower and luxury hotel attractions along with an entertainment arena for 15,000 guests and expanded VIP areas for high-rollers. The expansion will include infrastructure projects designed to promote energy efficiency and protect the environment. Marina Bay Sands shares a location next to Gardens By The Bay which stands among Singapore's most famous attractions. The facility expansion will draw additional tourists and generate new employment opportunities while maintaining Singapore’s position as a premier international travel destination. Marina Bay Sands accepted tough financial terms and used its assets as collateral to obtain the loan. Read related article:   Marina Bay Sands Expansion Budget Now At $9B

The White House designates Macau as a 'foreign adversary,' imposing investment curbs. What does this mean for its casinos amid rising Asian competition? Read more. The White House has dropped a bombshell by designating Macau as a “foreign adversary” - handing Special Administrative Region (SAR) with investment curbs. READ:   Can Macau’s Casinos Survive Asia’s Rising Competition? By declaring this, President Donald Trump lumped up the gambling capital in the east with “People’s Republic of China (PRC), including the Hong Kong Special Administrative Region and the Macau Special Administrative Region; the Republic of Cuba; the Islamic Republic of Iran; the Democratic People’s Republic of Korea; the Russian Federation; and the regime of Venezuelan politician Nicolás Maduro.”  READ:   ‘Macau Casino Outlook Tied to Chinese Economy’ Trump claims this was in line with his policy of prioritizing America in terms of investment policies. “America’s investment policy is critical to our national and economic security.  Welcoming foreign investment and strengthening the United States’ world-leading private and public capital markets will be a key part of America’s Golden Age,” he shared.  READ:   How Macau’s Casino Junkets Are Adapting To New Regulations This sweeping action goes beyond conventional trade disputes, directly targeting capital flows and potentially reshaping the landscape of US-China business relations. Notably, Americans are now prohibited from investing in China's military-industrial complex. He also warned that China’s investment in the agricultural and technology sector may risk national security.  READ: Paradise to Distribute Tangiamo Products In Macau, PH This move raises questions particularly for US-based casino operators with a strong presence in Asia. Notably, Wynn and MGM have operations in Macau. The impact to US based companies remains unknown. Read related article :   What The Betting Markets Say About The Trump-Harris Polls

Belle Corporation announces a PHP0.06 per share cash dividend, with a record date of March 7, 2025, and payment set for March 21, 2025. Belle Corporation's Board of Directors has declared a cash dividend of PHP0.06 per share during their meeting on February 21, 2025.  Belle Corporation revealed this in a Philippine Stock Exchange listing in the morning of February 24, 2025.  “Please be advised that at a meeting of the Corporation’s Board of Directors held on February 21, 2025, the Board approved the declaration of cash dividends amounting to Php0.06 per share,” Belle Corporation said in the listing.  Known for its consistent payouts, Belle declared the same dividend amount in 2023, reaffirming its commitment to rewarding investors. If you own 1,000 shares, you’ll receive PHP60 in dividends—either via direct deposit or check. The shareholders entitled to receive the cash dividend will be determined through a March 7, 2025 record date, and the payment will be expected on March 21, 2025, according to Belle Corporation.  Cash dividends are payments made by a company to its shareholders as a way of distributing its profits. Shareholders may receive these payments through cash, deposited through their brokerage accounts, or mailed as checks.  What does this mean?  Declaring dividends usually means a robust financial health and a commitment to returning to shareholders. Belle earns profit from leasing City of Dreams Manila to Melco Resorts and shares in gaming revenues. It is also exploring an opportunity to build an integrated resort in Clark, in hopes of boosting tourism and investment.  Read related article:   City Of Dreams Manila Developer Eyes Clark Integrated Resort

International Entertainment Corporation (IEC) reports a significant PHP673.2 Million loss, citing high costs from its Manila integrated resort development. International Entertainment Corporation (IEC) was hit with a substantial loss to end the year 2024, despite a revenue increase. In a Hong Kong Stock Exchange filing, they attributed this to the operational and developmental costs linked to an integrated resort project in Manila, the capital of the Philippines. IEC’s income for the period is expected to dip by around P637.2 million (or HK$90 million) due to the ongoing renovation projects. This is drastically sharper than the P270.2 million (HK$36.1 million) loss recorded the previous year. Operational Costs of Philippine Casino Project IEC incurred an uptick in operational costs, particularly general and administration expenses associated with the casino. The renovation eyes expanding the resort’s casino gaming capacity, gaming spaces, and slot machines.  "There was an increase in general and administrative expenses mainly due to staff costs and depreciation and amortization being incurred for operating and managing the casino and the development of an integrated resort by the Group in the City of Manila," IEC said.  IEC officially   took over the casino’s operations  on May 9, 2024, under a provisional license granted by the Philippine Amusement and Gaming Corporation (PAGCOR) on September 27, 2023. In a filing earlier in February, IEC said it entered into a construction contract with an undisclosed contractor for a P1.4 billion project.  The company also increased interest expenses on bank borrowings that it incurred to establish and operate the casino while simultaneously developing an integrated resort.  What Does This Mean For Shareholders?  IEC is officially expected to release its interim financial results on February 27. With this development, they encouraged shareholders and investors to exert caution given the financial setbacks.  “Shareholders and potential investors are therefore advised to exercise caution whendealing in the shares and/or other securities of the Company,” they said in the filing.  Read related article :   Newcoast Hotel and Casino Set For P1 Billion Renovation

Genting Singapore 2024 financial results: Revenue, profit, gaming revenue, RWS 2.0, Resorts World Sentosa, Singapore casinos, Thailand expansion. Genting Singapore’s financial performance had a rollercoaster year- as it reported an increase in gaming revenue concurrently with a drop in net gaming revenue. Genting Singapore is the operator of Resorts World Sentosa.  The annual revenue of Resorts World Sentosa increased by 5% to $2.5 billion while net profit declined by 5% to S$578.9 million (approximately PHP21.4 billion). This was based on a financial report released in the late afternoon of February 20, 2025.  Performance was particularly challenging in the first half of the year, but Q4 2024 showed signs of improvement in gaming revenue.  Outside of Southeast Asia’s largest economy, Genting Singapore is looking ahead to another economic titan, Thailand, for expansion.  What the financial overview for Genting Singapore looks like:  Genting Singapore posted a 34% decline in net profit to S$222 million . The number was a decrease from the S$334.9 million net profit it yielded in the same period of 2023.  For the same year, revenue dropped by 12% year-on-year to S$1.2 billion (approximately PHP44.4 billion). Meanwhile, a strong Singapore dollar, higher travel costs, and seasonality have impacted Genting Singapore’s non-gaming revenue, posting a decline of 15 percent. It can be recalled that Singapore’s Gambling Regulation Authority only gave a 2-year license for RWS after what it described as a subpar performance.  Despite this, Genting Singapore logged a rise in gaming revenue (26%) in Q4. Meanwhile, adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) grew 37% quarter-on-quarter, fueled by a strong gaming performance. Singapore has some of the strictest gambling regulations in the world. Only two casinos - Resorts World Sentosa, and in Marina Bay Sands - are allowed to operate. GRA also said Singapore Pools is the only operator that can run remote gambling services.  RWS 2.0: What are Genting Singapore’s future growth and investment plans?  A major Genting Singapore project, the RWS 2.0 transformation plan is under way to enhance its position  as a premier tourism and entertainment destination. Here’s how the project will work:  Part of the pipeline for Genting Singapore is to mount 2 new luxury hotels, along with the Singapore Oceanarium. Genting Singapore also plans to invest in AI, automation, and event planning to drive more long-term visitors.  Other plans in motion?  Beyond Singapore, Genting is closely monitoring emerging opportunities in Southeast Asia, such as that of Thailand.  The Thai government’s approval-in-principle of the Entertainment Complex Business Act on January 13, 2025, could pave the way for casino legalization in Thailand. The Group has indicated its interest in evaluating geographical diversification opportunities should regulatory conditions become favorable. "We note that the Thai cabinet has given approval-in-principle to a draft Entertainment Complex Business Act on 13 January 2025, which could pave the way for the legalization of casinos in Thailand. We are closely monitoring the development and will continue to evaluate and explore geographical diversification opportunities," Genting Singapore said.  Read related article:   Singapore Gambling Declines, But Illegal Online Betting Rises

Francis Lui, 69, secures control of the Lui family empire, spanning casinos, property, and hospitality, with a substantial $1.6B (around PHP 88B) in shares. The reins of Galaxy Entertainment Group, one of Asia's most lucrative casino empires, have officially been passed to Francis Lui, following the death of his father, Lui Che Woo, last November.  This transition marks a significant moment in the world of high-stakes gaming and underscores the ongoing generational shift among Hong Kong's business titans. Francis Lui, 69, has solidified his control over the US$12 billion (approximately PHP 670 billion*) empire, which spans casinos, property, and hospitality, according to recent exchange filings.  He now holds a substantial US$1.6 billion (approximately PHP 90 billion*) in shares previously held by his father and family foundations. His leadership is further cemented by his position as chairman of K Wah Group, the family’s key holding entity. This succession, while seemingly smooth, highlights a broader trend in Hong Kong's business landscape. Many of the city's influential patriarchs are now passing the torch to their heirs, many of whom are already in their sixties.  As Jeremy Cheng, adjunct assistant professor at the Chinese University of Hong Kong, points out, this generation faces the challenge of preparing the next generation for leadership. The pressure is on to ensure the continued success and evolution of these long-standing business empires. Francis Lui's ascension to the top has been years in the making. Joining the family business in 1979, he worked closely with his father, gradually assuming more responsibility and demonstrating his capabilities.  His background in structural engineering, with a Master of Science degree from the University of California, Berkeley, might seem an unusual path to the gaming world, but it underscores the diverse skill sets required to manage such a complex organization. He became a board director about a decade after joining the firm, signaling his father's confidence in his abilities and his long-term role in the company's future. While Francis leads the charge, the Lui family's involvement extends throughout the empire. Paddy Lui, Francis' sister, serves as an executive director of Galaxy Entertainment Group and the family's real estate firm, K Wah International. Other siblings also hold management positions within different branches of the business. Read related article:   Galaxy Entertainment Eyes Bangkok Casino Opportunity

International Entertainment Corporation (HK: 1009) is investing PHP 1.47B to renovate Newcoast Hotel and Casino, expanding gaming capacity and upgrading facilities. International Entertainment Corporation (HK: 1009), a prominent investment holding company primarily engaged in hotel operations, property leasing, gaming, and live poker events, has announced a significant renovation project for Newcoast Hotel and Casino in Manila, Philippines.  The project aims to enhance the facilities and expand the gaming capacity of its casino, further solidifying its presence in the competitive Asian gaming market. On February 14, 2025, International Entertainment Corporation's indirect wholly-owned subsidiary, NCLI, entered into a construction contract with an undisclosed contractor for a total price of PHP 1,471.68 million (approximately HK$191.32 million). The scope of the construction works is extensive, encompassing the design, demolition, construction, furnishing, and retrofitting of various elements within the casino and hotel. This includes upgrades to walls, ceilings, floor finishes, fixtures, air conditioning, electrical and plumbing systems, and fire protection. This ambitious undertaking is part of International Entertainment Corporation's broader strategy to capitalize on the provisional gaming license granted by the Philippine Amusement and Gaming Corporation (PAGCOR). As previously disclosed, the company has committed to investing between US$1.0 billion (approximately HK$7.82 billion) and US$1.2 billion (approximately HK$9.38 billion) for the establishment and operation of the casino and hotel. Casino operations commenced in May 2024. The renovation project is designed to complement the existing casino operations and elevate the overall guest experience. International Entertainment Corporation believes that the improvements will not only modernize the hotel's amenities but also create a more attractive environment for premium customers. The company anticipates that this will lead to increased hotel occupancy rates and higher spending activity at both the casino and hotel. A key element of the renovation is the expansion of the casino's gaming capacity. The project will create additional gaming space on the ground floor, allowing for a significant increase in the number of gaming tables and slot machines. The number of gaming tables is projected to rise from approximately 80 to over 110, while the number of slot machines will increase from around 500 to over 920. This expansion is expected to drive future revenue growth for the casino. International Entertainment Corporation's strategic investment in its Manila property underscores its commitment to the Asian gaming market. The company's focus on enhancing its facilities and expanding its gaming capacity positions it for continued success in the region's dynamic hospitality and entertainment industry. Investors are likely to watch closely as the renovation progresses and the expanded gaming facilities come online.  Read related article:   Okada Manila Reports 33.4% Revenue Drop to $142M in 3Q 2024

Wynn Resorts CEO Craig Billings outlines the company's growth strategy, emphasizing Al Marjan's potential and other key projects driving future expansion. Casino developer Wynn Resorts Ltd. said preparing for its property in the United Arab Emirates and a possible bidding for a casino in Thailand are currently top of their pipeline. ““There are also opportunities that come along that are unique, so if Thailand does move ahead, for example, you want to make sure that you’re in a position to participate.,” Craig Billings, Wynn chief executive sid in an earnings call.  Wynn Resorts CEO Craig Billings described the company's current opportunities, highlighting Al Marjan as a primary focus. He noted the substantial land bank there, drawing a parallel to the power of such land banks in Macau during the mid-2000s.  Billings acknowledged Wynn's activity in Thailand, though emphasizing it's still early stages, and their involvement in New York, where they are taking a disciplined approach.  He also pointed to a significant land bank in Las Vegas, suggesting years of future growth potential. However, Billings reiterated that the immediate focus is Wynn Al Marjan, characterizing it as a brand-new, multi-billion dollar market representing a tremendous opportunity. Thailand is currently working to legalize casinos, with parliamentary talks under way after the government approved the bill in principle last January 13.  Casino and Integrated Hotel stakeholders have welcomed this development, with Wynn at the forefront of possibly bidding for an IR space in the Land of Smiles.  Read related article :   Wynn Resorts Properties in Macau Post Mixed Revenue Results

Okada Manila's gaming revenue took a hit as the Philippines' junket casino business slumped. Discover how the decline in junket operations is impacting the industry. Okada Manila, the integrated resort operated by Universal Entertainment Group, has reported a decline in its annual performance for fiscal year 2024, primarily due to a slowdown in the junket business within the Philippines' casino market.  This downturn has significantly impacted the resort's gaming revenue. Universal Entertainment Group's overall integrated resort business, which includes Okada Manila, saw net sales of ¥81,981 million (approximately ₱30.5 billion or $550 million), a 15.4% decrease year-on-year. Operating profit plummeted by 80.0% to ¥2,871 million (approximately ₱1 billion or $19 million), while adjusted segment EBITDA fell by 34.8% to ¥19,560 million (approximately ₱7.2 billion or $130 million). The core issue affecting Okada Manila's performance is the continued decline in VIP guest numbers.   The press release specifically cites the "slowdown of the junket business" as the primary culprit, negatively impacting overall market conditions for casinos in the Philippines. Junkets, which bring in high-rolling gamblers, have been facing challenges, leading to fewer VIP players at Okada Manila. While the mass market and gaming machine categories at Okada Manila have shown steady growth since pre-pandemic levels in 2019, even these segments experienced a downturn in fiscal year 2024 compared to the previous year's post-pandemic rebound.   Despite this, the hotel and food and beverage businesses at Okada Manila are performing well, with consistently high guest numbers and increasing revenue.  This suggests that while the gaming segment is struggling, other areas of the integrated resort are showing positive signs.  However, these gains were not enough to offset the significant losses in the gaming sector. Read related article:   Okada Manila Reports 33.4% Revenue Drop to $142M in 3Q 2024