Melco Crown Entertainment, operator of the City of Dreams resort in Macau, may invest $1bn in a casino project in the Philippines.
The company, which is headed up by James Packer and Lawrence Ho, is believed to be considering developing facilities within the planned Pagcor Entertainment City project in Manila.
Bloomberg reports that Philippine Amusement and Gaming Corp chairman, Cristino Naguiat, revealed discussions with Melco Crown were “ongoing”, while accompanying President Benigno Aquino during a state visit to China.
Casino licences have already been awarded to four companies, including a joint venture between Genting Malaysia and Alliance Global, with each committing $1bn to the development. Construction on elements of the project is currently underway.
