Philippine real estate firm Belle Corp has confirmed reports that it has applied for a casino license in Clark, north of Manila, but said such application has yet to be approved and project details therefore remain preliminary.
In a filing following a Reuters report outlining the Clark casino plans of Belle Corp subsidiary Premium Leisure Corp (PLC), which claimed it would invest around US$300 million, the company explained that it has applied for a gaming license from government regulators.
“However, as information on potential investments, much less plans, of any specific project, specifically within Clark City in Central Luzon, are still too preliminary at this point, especially considering that the application for license has yet to be acted on, we are still in no position to make any confirmation thereon.
“We will, of course, make the appropriate disclosures once investment decisions have been made firm.”
PLC, which delisted from the Philippine Stock Exchange only last month, is a partner of Melco Resorts & Entertainment in City of Dreams Manila where it holds a revenue share agreement, while Melco also pays rent to Belle Corp for use of the land upon which the integrated resort sits.
It remains unclear whether Melco would be involved in PLC’s Clark venture should its application be approved.
Clark itself is a former US military air base turned special economic zone that has emerged as a leading golf and gaming tourism hub. It is already home to seven casinos in Hann Casino Resort, Royce Hotel & Casino, D’Heights Resort & Casino, Casino Plus at Hotel Stotsenberg, Midori Clark Hotel and Casino and Fontana Leisure Parks and Casino, plus the PAGCOR-run Casino Filipino Capital at Xenia Hotel.
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