Belle Corp’s US$ 750 million casino complex to open in Q2 of 2012
In a disclosure to the Philippine Stock Exchange of Monday Belle said it has been planning to deploy about US$ 550 million for the development of the casino, hotel, condotel and theater complex "Belle Grande Manila Bay" while its partner Leisure and Resorts World Corp. (LRWC) would contribute US$ 200 million for casino fit-out and working capital.
The integrated gaming resort complex, located between Macapagal Avenue and Roxas Boulevard, will offer 19,626 square meters of gaming space. The first floor shall be devoted to the mass market while 6,000 sqms shall be reserved for VIP gamers. It will have 350 tables and 1,900 slot machines.
The facility shall also include six hotel towers with 1,000 rooms by the fourth quarter of 2013, including 86 luxury suites, according to Belle’s project briefer given to the PSE.
The casino shall be 100 % owned by Belle's subsidiary Premium Leisure and Amusement Inc., which was earlier acquired from the SM group via a share-swap deal that in turn gave the family of tycoon Henry Sy a 66 % interest in Belle.
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