Oct. 10--Integrated casino resort developer Melco Crown (Philippines) Resorts Corp. (MCP) disclosed on Wednesday that its $1.3-billion integrated casino resort at the Entertainment City will be branded "City of Dreams Manila."
The company also announced during the naming ceremony of the casino resort complex that following various amendments to gaming regulations in the Philippines by the state-run Philippine Gaming and Amusement Corp. (Pagcor), the City of Dreams Manila has been permitted to operate a substantially increased number of gaming tables and electronic gaming machines upon its opening.
City of Dreams Manila, when it opens around the middle of 2014, will mark the formal entry of Melco Crown Entertainment into the country's tourism industry. City of Dreams Manila is next to the City of Dreams Macau to be branded as such.
"City of Dreams Manila will herald a new era of entertainment in Manila and will provide visitors with an exceptional world-class gaming and entertainment experience, delivering international standards of retail, food and beverage and hotel amenities. I am confident that City of Dreams Manila will be the pride of the leisure and entertainment industry here in the Philippines," said Lawrence Ho, co-chairman and chief executive officer of Melco Crown Entertainment.
Melco Crown Entertainment has been a pioneer in the development of integrated entertainment resorts in Asia. Its City of Dreams branded Macau flagship integrated resort has been a major catalyst in helping the city establish itself as one of the leading entertainment and tourism destinations in Asia.
The naming ceremony was officiated by Ho and Co-Chairman James Packer, accompanied by the chairman and president of MCP Clarence Chung.
Chung said that the development of City of Dreams Manila is progressing well, adding that the complex will include a 260-room Crown Towers hotel, a luxurious and premium hotel brand also present in Melbourne, Australia, and City of Dreams Macau.
"Melco Crown Entertainment's decision to introduce the exclusive and luxurious Crown Towers hotel brand to City of Dreams Manila further illustrates the commitment in expanding the premium and highend gaming market in the Philippines, a valuable market that Manila is comparatively missing out on," Packer added.
City of Dreams Manila is being developed and to be operated by Melco Crown (Philippines) Resorts Corp. in partnership with SM Group's Belle Corp.
The resort complex is located in about 6.2 hectares of land at the gateway to Entertainment City.