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Belle Grande Integrated Resort and Casino...

Belle Corporation (Belle) together with its 100% - owned subsidiary, PremiumLeisure and Amusement, Inc. (PLAI), signed on 05 July 2012, a Memorandum of Agreement (MOA) with Macau-based Melco Crown Entertainment (MCE) group of companies, for a collaborative partnership in the development and operation of Belle Grande Integrated Resort and Casino at Aseana Boulevard in Paranaque.
Belle agreed to join with MCE under a new consortium to create a premiere integrated resort complex. MCE is the owner and operator of the casino development in Macau called "City of Dreams". Melco Crown Entertainment Limited is a partnership of Melco International of Macau and Crown of Australia.

Subject to PAGCOR requirements, Belle and MCE plan to create a US$1 Billion premiere gaming and entertainment facility and enter into implementing and definitive agreements within the next two months. It is expected that with this alliance with MCE, PAGCOR's Entertainment City development will be raised to world standards.

Belle and PLAT previously entered into an agreement with local-based company Leisure Resorts (LRWC) and AB Leisure Global Inc. (ABLGI) for the operation of the integrated resort complex. Belle and PLAI had since agreed to take in MCE, a formidable integrated resort developer, in order to harness its expertise, global network, and resources to further enhance the value of the development. With the entry of MCE, it was agreed with LRWC and ABLGI to work with Belle in funding its capital requirements in exchange for a share in the economic benefits to be derived by Belle and PLAI from the project.

For further information, please contact:

Armin Raquel-Santos
Executive Vice President
PremiumLeisure and Amusement Inc. (PLAT)
ars@bellecorp.com
Telephone No. +632 857-1508
Cellphone Number: +63917-854-1654
 

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"Belle Grande Integrated Resort and Casino" was written by Mary under the Business category. It has been read 2160 times and generated 0 comments. The article was created on and updated on 06 July 2012.
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