Bits and Snippets of the Philippines

Basic Reading of Global Filipinos

Hong Kong Casino Giant Melco May Partner with Henry Sy Jr.

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News broke today that casino operator Melco Crown Entertainment Limited (MPEL) is exploring options to open a casino in the Philippines. The company is said to be partnering on a billion-dollar casino resort in Manilla, the capital city. The latest rumors have Melco partnering with the Philippines’ richest man Henry Sy Jr. The deal would see a 50-50 joint venture between the casino, hotels, and entertainment available at the property.

The city, which had 1.7 million people as of 2010, is the second most populous city in the nation. The Philippines are hoping to turn a portion of the Manilla region into a gaming area similar to the Las Vegas strip.

Read more at Seeking Alpha

Photo by paomont at Flickr.com

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Written by Raffy Pekson II

June 28, 2012 at 2:21 pm

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