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Joint venture partner Belle Corp not planning to buy out Melco’s City of Dreams Manila stake
Summary
Belle Corp, a Philippine real estate firm, announced it has no intention to buy out its joint venture partner Melco Resorts & Entertainment’s stake in City of Dreams Manila. This declaration follows Melco’s recent exploration of “strategic alternatives” for the integrated resort they opened together in 2014. While there were speculations about a potential buyout, Belle confirmed that such plans are not currently in their agenda.
Key Points
- Belle Corp stated it has no plans to acquire Melco’s stake in City of Dreams Manila.
- Melco is exploring strategic alternatives related to its Manila integrated resort.
- Belle Corp has expressed interest in obtaining a casino license for a nearby location in Clark.
- Melco’s strategy aims to become more asset-light and enhance financial flexibility.
- The partnership between Belle and Melco has operated since the integrated resort’s opening in 2014.
Why should I read this
The article provides insights into the current state of the gaming and hospitality industry in the Philippines, particularly regarding key players like Belle Corp and Melco. Understanding their strategies and partnership dynamics is essential for anyone interested in real estate investments, casino operations, or market developments in the region.
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