According to a report published by the Philippine Star, the Philippines could soon have more City of Dreams (CoD) resorts, even if the country doesn’t want them. Willy Ocier, the chairman of Premium Leisure Corp., alluded to the fact in speaking to the Star after a meeting by that entity’s shareholder’s this past Monday. Premium Leisure is one of the primary backers of the CoD Manila resort, which is owned by Melco Resorts and Entertainment, Ltd.
Ocier stated, “The expansion of City of Dreams is being studied by our partners as well as ourselves,” adding, “We have not identified any location yet.”
Philippine President Rodrigo Duterte has called a halt to new casino construction, a moratorium that has been in place for over a year. The Philippine Amusement and Gaming Corp. (PAGCOR), which oversees casino operations in the country, has tried to push for a partial lifting of the moratorium so that the country could receive fresh investments on casino operations, but Duterte has so far not changed his position and has stated that the moratorium will remain in place.
Premium Leisure, as a backer of CoD Manila, receives a cut of the venue’s gaming revenue. It enjoyed a 9.1% increase year-on-year in the first quarter of 2019, taking in around $13.9 million from the resort’s operations.