City of Dreams Manila, the newly opened $1-billion integrated hotel, resorts, casino and entertainment complex, is ramping up its finishing touches for the anticipated arrival of high rollers likely in six months’ time.
Manuel Gana, chief financial officer of Belle Corp. which holds the land titles and rights where City of Dreams Manila stands, said that Belle and other operators of City of Dreams are currently “ramping up” the complex in preparation for the arrival of VIPs from abroad.
“Since soft opening, [our market]has been primarily mass and premium mass. From what I understand, there are no VIPs yet as of now. That’s why ramping up is important, because in the first six months, we have a process of bringing in the VIPs…We have to make an impression,” Gana told reporters on Friday.
The 6.2-hectare integrated entertainment complex held its soft opening in December last year and decided to fully open on the first week of February.
Gana said the hotels, resorts and casinos are fully operational but most of the retail shops, private resort villas and other few amenities are yet to open.
The Belle chief said most of City of Dreams’ revenues so far are derived from its casino and restaurants operations, while retail locators like Rolex come in as secondary source of sales.
Asked if an expansion is already in sight, Gana said “not anytime soon” despite Belle owning a 8,500-square meter (sq m) lot inside the Entertainment City, which is just 200 meters away from City of Dreams.
“We have 8,500 sq m but it’s not across or adjacent [to City of Dreams]. For expansion, we could build up, convert some parking space to resort facility, but that’s not for us to do. Melco [Crown] has to think of that, propose it to us and we have to agree. But so far, not anytime soon,” Gana said.
City of Dreams is owned and operated by Melco Crown Entertainment through its local subsidiary, Melco Crown (Philippines) Resorts Corp., in partnership with the Sy Group consisting of SM Prime Holdings Inc., Belle Corp. and Premium Leisure Corp.
It operates global brands such as hotels like Crown, Nobu, and Hyatt; DreamWorks for play and amusement areas for kids and adults alike; and the Ault Group for luxury nightclub spaces, as well as an array of high quality fine dining restaurants and prime retail shops.
The $1-billion entertainment resort complex is Melco’s second in the world next to City of Dreams Macau. It is also the second entertainment and casino complex to open at Philippine Gaming Corp.’s (Pagcor) Entertainment City after the 2013 opening of Bloomberry Resorts Corp’s Solaire Resort & Casino.
The other two integrated resorts and casino complexes to rise in Entertainment City include The Manila Bay Resorts of Tiger Resorts and Entertainment Inc. (a subsidiary of Japan-based Universal Entertainment Corp.), and Resorts World Bayshore of Travellers International Hotel Group Inc.