Melco reportedly interested in buying Pagcor's casinos
“If there was a big redevelopment opportunity, a whole hotel that we could redevelop, we would be potentially interested in doing that" Melco chairman, Lawrence Ho, told Macau Business Daily.
The company operates City of Dreams Manila, located in the Entertainment City in the Philippine capital, which opened in 2015. The property remains one of the most profitable Integrated Resorts in the country.
“The Philippines is an exciting market for international entertainment […] and we look forward to continuing to work together [with PAGCOR] in the future,’ Melco said.
Speaking to Business Daily, Ricardo Chi Sen Siu, Associate Professor in Business Economics at the University of Macau, said that PAGCOR’s decision to expand its role as regulator-only by privatizing existing properties ‘will quite likely in future elevate the efficiency of the Philippine’s casino gaming market.’
Accordingly, the professor claimed that it ‘may exert certain competition on Macau’s market,’ although at this stage ‘the actual effect may still be unclear.’
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