Melco in talks with buyers for City of Dreams Manila

Macau-based Melco Resorts & Entertainment Ltd. is talking to about two prospective buyers or investors for its City of Dreams Manila integrated resort, which it is operating using the property of Belle Corp. and the license of Premium Leisure Corp., both of the SM Group.

- BY JAMES A. LOYOLA

“At the moment, as far as I know, there are one or two who have expressed interest in looking at the property. But so far, nothing definite has happened yet,” SM Investments Corp.’s President and CEO, Frederic C. Dybuncio, said in a press briefing for SMIC’s first half performance.

He noted, though, that “I don't know whether they're operators or just private equity that might want to invest and let Melco manage the casino. I'm not privy to that discussion... But, if they cannot sell it at the price they want, they should continue the business.”