Melco Crown unaware of expansion plans

Monday 24th of April 2017

Melco Crown’s Philippines subsidiary has backed away from comments made by Belle Corp’s chairman regarding expansion plans for City of Dreams Manila.

On the sidelines of the company’s stockholders’ meeting, Belle vice-chairman Willy Ocier said the group was looking at expanding its current casino resort in Entertainment City by buying land adjacent or close to it.

“We are looking for neighbouring site or land contiguous with COD. We are open also [to] joint venture partnership,” Ocier said, noting they were in discussion with Melco regarding these plans.

However, in a filing from Melco Crown (Philippines) Resorts Corporation (MCP) on Tuesday, the company noted it “[had] no prior knowledge of the statement made by Mr. Ocier on behalf of Belle Corp.”

MCP additionally noted that “the company’s operations are carried out by its own management team and Belle Corporation is not involved in the day to day management of MCP and not authorized to speak on behalf of MCP.”

“Aside from previous disclosures by the Company to the Exchange, there is no additional information to be reported by MCP at this time. MCP will comply with its disclosure obligations if material changes are to occur,” said the company in a filing.

Bricks & Mortar Expansion Clarification