MANILA—Macau developer Melco Crown Entertainment is raising its investment in a $1-billion casino project in the Philippines to offer more gaming tables and luxury hotel rooms, the company said Wednesday.
The “City of Dreams Manila” project, to open in mid-2014, will now require an initial outlay of $680 million, or $60 million more than previously announced, its chief executive Lawrence Ho said in Manila.
“We think it’s going to be money well spent. As a company we make sure that there’s good value in terms of where we put the money in,” he told a brief news conference.
The casino is a joint venture with the SM Group of Chinese-Filipino billionaire Henry Sy, the Philippines’ wealthiest man.
The project is one of four holders of government franchises to build four $1-billion casinos. They will be sited in a gaming enclave constructed by the government on reclaimed land in Manila Bay and called Entertainment City.
AGES Aviation Center, Inc. has been the elected ground handler for the private Airbus A319-115X of Comlux Malta, which has been regularly used by the Melco Crown Group on their trips to Manila. Full VVIP Treatment has been provided to the group, ensuring that their short stops in Manila are completed without delay.