Belle Corp the Philippine property developer has reported today it has signed a deal with Macau Casino operator Melco Crown Entertainment Ltd to develop and operate a casino resort complex in Manila.
Under the cooperation agreement, both companies are expected to make equal investment contributions to the project, Belle said in a statement.
“We are confident that Melco Crown will bring its expertise in operating a highly successful integrated resort complex and strongly contribute to promoting the Philippines as one of Asia’s premier tourism destinations,” Belle vice chairman Willy Ocier was quoted as saying.
Melco Crown first announced on July 5 that it had entered into a memorandum of agreement with Belle to develop a casino resort in Manila.
At the time, it added that a final agreement between both parties would be finalised within the next two months.
This will be Melco Crown’s first venture outside of Macau.
The company will be in-charge of operating the casino resort.