Guys, I believe BELLE GRANDE Manila Bay Complex deserves to have its own thread to avoid confusion. It's a lot better and/or easier to search on a single thread for everyone !!!

Belle schedules Manila Bay casino opening for ’13

Sy firm sets aside $550M for complex’s development

by Doris Dumlao | Philippine Daily Inquirer | First Posted 02:07:00 04/30/2011

MANILA, Philippines—Belle Corp. expects to start operations of its $750-million casino complex near Manila Bay — a new project that will transform it from an upscale property developer to a premier gaming and leisure estate company — by the first quarter of 2013.

The soft opening of “Belle Grande Manila Bay” has been scheduled for the second quarter of 2012, but as it will take more time to finish the rooms, full operations may start in early 2013 or Christmas next year at the earliest, Belle vice chair Willy Ocier said on the sidelines of the company’s annual stockholders’ meeting late Thursday.

Belle itself plans to deploy about $550 million for the development of the casino, hotel, condotel and theater complex, while its partner Leisure and Resorts World Corp. (LRWC) will contribute $200 million for casino fit-out and working capital. The integrated gaming resort complex, between Macapagal Avenue and Roxas Boulevard, will offer 19,626 square meters of gaming space.

The first floor will be devoted to the mass market while 6,000 sq.m. will be reserved for VIP gamers.

It will have 350 tables and 1,900 slot machines.

The facility will also include six hotel towers with a combined 1,000 rooms, including 88 luxury suites.

The six-star all-suites hotel will be the first one to open, Ocier said, adding that Belle has tapped the Raintree group to manage the all-suites hotel portion.

“We have chosen the Raintree group, which is behind the Discovery brand, because they are very respected in the industry. They are homegrown and they are involved with us presently as consultant in hotels and F&B (food and beverage) operations,” Ocier said.

The first hotel tower is a five star all-suites hotel targeting VIP and junket gaming customers.

Tower 2 will be a four- or five-star hotel targeting mass gaming.

Belle is talking to other prospective hotel operators to manage the other hotels, Ocier said.

The casino will be 100-percent owned by Belle’s subsidiary Premium Leisure and Amusement Inc. (PLAI), 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-percent interest in Belle.

LWRC and affiliate AB Leisure Global Inc. (ABGLI), which together will contribute $200 million to the project, will be entitled to half of the cash flow (earnings before interest, taxes, depreciation and amortization) from Belle Grande Manila Bay’s gaming operations.

Belle Grande will be run by APG Casino & Gaming Consultants, a group managing five casinos in Macau with 20 years of experience dealing with VIP casino operations in Asia.

Thanks and More Power to SSCers :banana: :cheers:

Originally Posted by InfinitiFX45 December 29th, 2011, 04:40 PM - PARAÑAQUE | Resorts World Bayshore Thread (Post #169)

Bagong Nayong Pilipino Entertainment City Manila

http://img829.imageshack.us/img829/7649/pp2xm.jpg

Source: http://imageshack.us/photo/my-images/829/pp2xm.jpg/sr=1

Originally Posted by InfinitiFX45 January 24th, 2012, 03:07 PM - PARAÑAQUE | BGX Entertainment Complex Thread (Post #3)

Belle Grande Hotel and Casino Resort

http://www.asyadesign.com.ph/sites/default/files/imagecache/image_home_slideshow/sm%20casino%20gold.jpg

Source: http://www.asyadesign.com.ph/home#

Originally Posted by reign

I wish, SM would also build this egg shape structure (theater or convention center?) .Both structures are really nice. Halatang mahilig sa itlog ang SM ! :lol:

http://farm8.staticflickr.com/7028/6758971489_8657ff06e6_b.jpg

Thanks and More Power to reign, :banana: :cheers:

Originally Posted by DCRJ

FRESH PHOTO UPDATES, taken by DCRJ (Dan C Rivera Jr)

Snapshots taken by me this morning Feb. 5, 2012 Sunday 7:30am
BELLE GRANDE MANILA

http://a1.sphotos.ak.fbcdn.net/hphotos-ak-snc7/s720x720/424767_3012934996914_1068719127_3060130_678460056_n.jpg

http://a5.sphotos.ak.fbcdn.net/hphotos-ak-snc6/s720x720/166980_3012936956963_1068719127_3060132_1372129640_n.jpg

http://a3.sphotos.ak.fbcdn.net/hphotos-ak-snc7/s720x720/418273_3012937836985_1068719127_3060133_1046216204_n.jpg

http://a2.sphotos.ak.fbcdn.net/hphotos-ak-snc7/s720x720/394130_3012938076991_1068719127_3060134_51960537_n.jpg

http://a8.sphotos.ak.fbcdn.net/hphotos-ak-snc7/s720x720/407814_3012938957013_1068719127_3060135_1723166647_n.jpg

Thanks and More Power to DCRJ, :banana: :cheers:

Originally Posted by crossboneka

Originally Posted by crossboneka;88453565]
taken yesterday. so belle will be cladded in gold?

http://img585.imageshack.us/img585/8651/110220122161.jpg

http://img839.imageshack.us/img839/6271/110220122159b.jpg

Thanks and More Power to crossboneka, :banana: :cheers:

Originally Posted by romzangelo25

Originally Posted by [romzangelo25;88725862]
http://farm8.staticflickr.com/7050/6910579243_22aec45dbd_z.jpg

http://farm8.staticflickr.com/7199/6910586093_a0aab4d3ae_z.jpg

http://farm8.staticflickr.com/7067/6910587699_2d27da5489_z.jpg

http://farm8.staticflickr.com/7192/6910588583_fc5499428e_z.jpg

Thanks and More Power to romzangelo25, :banana: :cheers:

Originally Posted by InfinitiFX45 January 24th, 2012, 11:53 AM - PARAÑAQUE | BGX Entertainment Complex Thread (Post #1)

Belle’s $750-M Manila Bay complex on track

by Miguel R. Camus | Business Mirror | Monday | 23 January 2012 | 18:18

PROPERTY developer Belle Corp. remains on track to open its $750-million gaming complex in the Manila Bay reclamation project early next year, with the builder recently celebrating the ceremonial completion of its six hotel towers-considered a key requirement by the state-run Philippine Amusement and Gaming Corp. (Pagcor).

Belle Vice Chairman Willy Ocier said the hotels would offer the equivalent of 828 hotel rooms, or above the 800-rooms Pagcor requires before allowing Belle and other developers to open their respective casino facilities.

“We just topped off on all six hotel towers of Belle Grande and Casino Resort,” Ocier said in a text message. “We will start doing piling works on our BGX Entertainment Complex before month-end.”

Upon completion, Belle Grande will have over 250,000 square meters (sq.m) of gross floor area, including 17,000 sq.m of gaming space and more than 20,000 sq.m of retail and restaurant facilities, it said in a previous disclosure.

Ocier added that funding requirements are currently “all in place.” The builder last year completed a P4.5-billion stock rights offering that involved 1.51 billion shares at P3 each.

Ocier said earlier the developer could borrow fresh funds should it need additional capital for the project. It also tapped publicly listed Listed Leisure and Resorts World Corp. as operating partner.

The casino complex is part of a 25-year commitment by Belle to Pagcor which is spearheading the Entertainment City development

Other licensees are Travellers International Hotel Group Inc., a joint venture between Andrew Tan-led Alliance Global Group Inc. and Genting Hong Kong Ltd; Universal Entertainment and Bloomberry Resorts and Hotels Inc., led by port operations tycoon Enrique Razon Jr.

Belle, which is controlled by billionaire Henry Sy, rose 0.21 percent to P4.85 each on Friday, giving it a market value of P51.21 billion.

At present, the developer generates revenues from the sale of residential projects mainly in Tagaytay City and in Batangas. It reported earlier that net income in the nine months to September last year declined 77 percent to P76.3 million as revenues dropped by almost half to P478.51 million.

Source: http://businessmirror.com.ph/home/companies/22310-belles-750-m-manila-bay-complex-on-track

Originally Posted by InfinitiFX45 January 24th, 2012, 3:01 AM - PARAÑAQUE | BGX Entertainment Complex Thread (Post #2)

Guys, I hope they would build this iconic structure to attract more tourist in the country !!! :)

Belle Diamant @ BGX Entertainment Complex

http://www.asyadesign.com.ph/sites/default/files/imagecache/image_home_slideshow/belle%20Diamant.jpg

Source: http://www.asyadesign.com.ph/home#

Originally Posted by InfinitiFX45 February 7th, 2012, 11:45 AM - PARAÑAQUE | BGX Entertainment Complex Thread (Post #17)

Belle Corp eyes $1B leisure project - govt official

by Rosemarie Francisco and Jason Szep | Reuters | ABS-CBN News | 02/07/2012| 8:15 PM

MANILA, Philippines - Property and leisure group Belle Corp. has told the Philippine Amusement & Gaming Corporation it wants to acquire a 10-hectare property within a casino-entertainment complex rising in Manila, the head of the state gaming firm said.

Development of the property would require at least $1 billion and would increase Belle's investment in the complex, PAGCOR chairman and chief executive officer Cristino Naguiat said on Tuesday.

"We have a letter from the Belle group requesting us for them to get that property," Naguiat told Reuters in an interview. "We told them to put more details into that letter on what they plan to do, and what they intend to do with the property."

Naguiat said his office received the letter from Belle, controlled by the country's richest man Henry Sy, a few weeks ago.

Belle had previously bagged a deal to develop an integrated entertainment resort complex called Belle Grande Manila Bay, which features a 30,000-square metre casino, within the over 100-hectare Entertainment City set to rise in Manila starting late this year.

Source: http://www.abs-cbnnews.com/business/02/07/12/belle-corp-eyes-1b-leisure-project-govt-official

Originally Posted by InfinitiFX45 February 9th, 2012, 01:28 AM - PARAÑAQUE | BGX Entertainment Complex Thread (Post #18)


Belle eyes additional 10 has. for 2nd casino at Pagcor City

by Zinnia B. Dela Peña | The Philippine Star | Thursday | 02/09/2012 7:25 AM

MANILA, Philippines - Leisure and gaming firm Belle Corp. is planning to lease a 10-hectare lot within the Pagcor Entertainment City along Manila Bay which it intends to develop into a second casino complex after its Belle Grande Manila Bay project.

In a disclosure to the stock exchange yesterday, Belle corporate secretary A. Bayani K. Tan said the company has requested the Philippine Amusement and Gaming Corp. for a lease proposal on at least 10 hectares of land at the 100-hectare Pagcor Entertainment City but pointed out that no agreement has yet been reached with the government.

Willy N. Ocier, vice-chairman of Belle, said the group would need to shell out $1 billion in fresh capital for the new 10-hectare site should Pagcor accept its proposal.

Ocier said Belle is now accelerating the development of its $750-million integrated resort complex, Belle Grande Manila Bay, which is slated for a grand opening in 2013.

Upon completion, Belle Grande will be offering a total of 880 hotel rooms under three brands of five-star and six-star quality, and will have a total gaming area of 19,626 square meters with 350 gaming tables and 1,900 slot machines. The first floor will cater to the mass market while over 6,000 sqm of space will cater to VIPs.

The group is looking to build an all-suites hotel to be managed by the Raintree Group of Discovery.

Aside from Belle, other franchise holders for the Pagcor Entertainment City are Japan’s Aruze Group, Andrea Tan’s Megaworld and Bloomberg Resorts of businessman Enrique Razon Jr.

The country is seeking to make gaming one of the pillars of the tourism industry as it eyes to corner at least 10 percent of the $115-billion global gaming pie.

Asia Pacific is seen as the fastest-growing region for casino gaming spending over the next five years and even surpass the United States as the world’s largest casino gaming market.

Growth in Asia Pacific would mainly be driven by the region’s economic growth and the subsequent rise in disposable income and growing interest by people for gambling.

Asia is forecast to chalk in revenues of $79.3 billion in 2015, up from $ 34.3 billion in 2010, with a compound annual growth rate of 18.3 percent.

Source: http://www.abs-cbnnews.com/business/02/08/12/belle-eyes-additional-10-has-2nd-casino-pagcor-city

WHow. ...I saw some jeepny passing directly in front of the casino ni some of the pictures. hopefully they can redirect those jeepney routes to some other roads to make this complex prestigious.

WHow. ...I saw some jeepny passing directly in front of the casino ni some of the pictures. hopefully they can redirect those jeepney routes to some other roads to make this complex prestigious.

why would you say that? the complex will still be prestigious even with those jeepneys around, in fact those jeepneys plying in front of it would make the place exotic for foreigners. as if you don't know that jeepneys doesn't exist outside the philippines. there's nothing low on jeepneys mr grey ! :bash::bash::bash::bash::bash::nuts::nuts::nuts::nuts::nuts::nuts:

^^ Redirect lang naman Sir! :lol:

I agree with Mr Grey's sentiments regarding the jeepneys. In the future, those roads will be a bit busier, so I think PUVs such as our humble jeepneys should be redirected. And honestly, OK sana if the jeepneys we have in that location are as good as the 'Old Jeepneys' we had back then. hehe.

Murky past catches up with new PAGCOR
BY ROEL LANDINGIN

http://www.rappler.com/business/1687-murky-past-catches-up-with-new-pagcor#.T0TfQH0LSfo.twitter

double post

why would you say that? the complex will still be prestigious even with those jeepneys around, in fact those jeepneys plying in front of it would make the place exotic for foreigners. as if you don't know that jeepneys doesn't exist outside the philippines. there's nothing low on jeepneys mr grey ! :bash::bash::bash::bash::bash::nuts::nuts::nuts::nuts::nuts::nuts:



Sorry Mr Noypiblazer, I just think it doesn't look nice seeing people being smoke by this jeepneys while walking the red carpet going inside the casino complex or disturb tourist having coffee breaks outside the facility with the loud roar of the jeepney's accelerating speed, But if they can turn this jeepneys to electric jeepneys I bet it can help alot.

teka naguguluhan ako, sabi second casino, saan ba yung 1st, saan yung 2nd?

teka naguguluhan ako, sabi second casino, saan ba yung 1st, saan yung 2nd?

The second will be on the requested portion of land to be leased out. Belle wants to build another as expansion to the original plan. I suggest you back read.

Lagi ka nman naguguluhan eh ! di kya ikaw ang magulo? magbasa muna kc bago magtanong ! :lol:

teka naguguluhan ako, sabi second casino, saan ba yung 1st, saan yung 2nd?

Lagi ka nman naguguluhan eh ! di kya ikaw ang magulo? magbasa muna kc bago magtanong ! :lol:

kung gusto ko mag back read....di hindi na sana ako nagtanong

ang susungit ng mga forumers dito....

Di inamin mo din na tamad ka , khit nman saan thread puro ka tanong , kya and dami mo kaaway sa Tagiug thread eh , ngayon nman d2 ka manggulo ! KSP ka tlaga ! :lol:

kung gusto ko mag back read....di hindi na sana ako nagtanong
ang susungit ng mga forumers dito....

so if tuloy na ang bgx, where will it be located, beside Belle Grand Hotel and Casino, based from render asa side siya ng waterway canal... tama?

Possible since i saw heavy equipment already digging the foundation on the ot beside belle grande resort hotel.

WHow. ...I saw some jeepny passing directly in front of the casino ni some of the pictures. hopefully they can redirect those jeepney routes to some other roads to make this complex prestigious.

I think hindi naman siguro nakaharap ang front ng casino sa Roxas Boulevard... those pictures na nakita n'yong mi mga jeepney is along the boulevard yan na side... and please do note na mi creek pa in between the casino building and roxas boulevard...:)

seen the facade of bell grande.. tinted yung glass ng gold.. galing galing..

seen the facade of bell grande.. tinted yung glass ng gold.. galing galing..

photos ! :nuts:

Philippines bets on bright future for gaming industry

by Kate McGeown | BBC News | Thursday | 1 March 2012 | Last updated at 21:10 ET

http://news.bbcimg.co.uk/media/images/58129000/jpg/_58129042_102111updatedperspective_crop.jpg
An artist's impression of the Belle Grande, one of the new resorts being built in Manila Bay

In recent weeks, two giants of the casino industry, the American tycoon Steve Wynn and the Japanese investor Kazuo Okada, have been conducting a very public row.

But their disagreement is not based on anything that happened in America or Japan - it centres on the Philippines, which is trying to turn its fledgling casino industry into Asia's next gaming hub.

Mr Wynn has accused Mr Okada of making illegal payments and giving improper gifts and hospitality to the Philippine gaming regulator, Pagcor, violating US anti-corruption laws.

Mr Okada, who denies he has done anything wrong, has already been forced to sell his stake in Wynn Resorts. It now looks as if the row is heading for a lengthy courtroom battle.

In the Philippines - where construction is under way for a massive new casino complex along Manila Bay - all this makes uncomfortable reading, especially for Cristino Naguiat, the Pagcor chairman caught up in the middle of the row.

Read More: http://www.bbc.co.uk/news/business-16753960

the new render looks better with the addition of the glass pyramid on top of the podium.



http://news.bbcimg.co.uk/media/images/58129000/jpg/_58129042_102111updatedperspective_crop.jpg

the new render looks better with the addition of the glass pyramid on top of the podium.

Yeah it looks 2 Billion times better. :)

yeah I saw that when I was reading the article in BBC before someone posted it..

I knew something was different.. the Pyramid!! I wasn't so sure back then.

bigger render

http://farm8.staticflickr.com/7178/6800992726_36402f8bd0_b.jpg

photo credit to InfinitiFX45 .tnx

bigger render

http://farm8.staticflickr.com/7178/6800992726_36402f8bd0_b.jpg

photo credit to InfinitiFX45 .tnx

Thanks Bro !!! :cheers: :banana:

lol mini Luxor!

looks great if it has like a fountain or maybe a very tall obelisk like the Washington monument in gold! LOL

The pyramid, kilang na lang the all seeing eye. Freemasons anyone? hehehehe but it looks better though

I wonder what's inside that pyramid.

I wonder what's inside that pyramid.

Charice. :nuts:

http://img3.imagebanana.com/img/5oza1pgn/byehaters.gif

Charice. :nuts:

http://img3.imagebanana.com/img/5oza1pgn/byehaters.gif

Like! It can be a small venue or an enclosed garden. Whatever it is, let it be done.

http://www.benabraham.com/assets/images/Illum1.gifhttp://t0.gstatic.com/images?q=tbn:ANd9GcRBemzGcrxAIchkzIouA6tRMgluFSWL3j6drooFgg-t90n7loj8Vghttp://www.masonicinfo.com/images/illuminati_maspyra.gif

yan ang PYRAMID kong saan si charice nakaanib

http://t1.gstatic.com/images?q=tbn:ANd9GcTNCG68n6QxinxL_tm3IVGofV_ek_GaPfiLqPbZI-sBvTaNwPknfellow(2nd degree) craft si charice, si kobe at manny pacquiao ay knights of st. andrews(29th degree) na ang category nila

^^welcome back,sun-tex

hehehehe,thanks.....

Onga noh mukha ng temple kesa casino ang belle hehehehe O joke lang

^^

it's good that they add the glass pyramid , at least it's now the focal point of the complex and not those boxy buildings. It reminds me of the glass pyramid infront of Louvre Museum in Paris.It looks more luxurious. Nagmukha siyang Belle Grande Temple. j/k

http://farm8.staticflickr.com/7178/6800992726_36402f8bd0_b.jpg

photo credit to InfinitiFX45

reminds me of luxor hotel in vegas.

snapshot taken by me on March 9, 2012 Friday

http://a3.sphotos.ak.fbcdn.net/hphotos-ak-ash4/431544_3226995988305_1068719127_3150851_1363810772_n.jpg

The abandoned Jai Alai building in Manila has a better design than this imo.

I think Jai Alai bldg in Manila was demolished and not abandoned. I hope the rumored Bell Diamante will really rise in that complex!

^At first I thought portion of Jai Alai was acquired by Adamson University to build its Falcon Tower.

Then, recently I realized that a residential tower will soon rise on the entire area. Forgot the name though.

It was demolished during the time of atienza supposedly to build the new integrated regional trial court of manila.

Is it just me or has construction stopped/moved inside? I don't see much activity outside anymore and the towers aren't lit up at night.

Is it just me or has construction stopped/moved inside? I don't see much activity outside anymore and the towers aren't lit up at night.

that's what i am thinking too, i passed at the area everyday and i don't see any activities as of this moment

that's what i am thinking too, i passed at the area everyday and i don't see any activities as of this moment


Nakupooo!...this is bad...construction slowed or stopped...hwag naman po sana pls....I remember senator Pimentel asking for a probe on PAGCOR city, bwisit na mga politiko yan lahat na lang pinakikialaman miski smooth na smooth na ang takbo....iba talaga pag may malaking pera nakataya...maraming gustong sumawsaw.....asking for a "share" on those projects??:bash::bash:....guys pls update...im worried on the progress....or the lack of progress of this project..:ohno::ohno::ohno:

khit ba sa interior ng building walang gumagawa? bka kasi nga nirevised nanaman nila yun latest render nila kaya wala pa yun shipment ng new materials nila? my guess...

If it's SM, it's a go. No matter what the situation is. SM is risk taker.

i agree. remember they bought additional hectares of land? they might have changed something in the render kaya tinigil muna.

i agree. remember they bought additional hectares of land? they might have changed something in the render kaya tinigil muna.

Maybe SM people have awaken one day realizing that their project is way too bland as compared to Okada's MBR. Now, they need another 10has to save their project from being simple. Also, Diamant must help their complex to be more attractive.

So tuloy ito? Buti naman, andami ng mamamatay matay sa BNPECM thread- hindi na daw tuloy ang Bagong Nayon.

Belle Grande as of March 15, 2012:

http://farm8.staticflickr.com/7191/6987184287_80e2ba1b1e.jpg

http://farm8.staticflickr.com/7197/6987177789_1feb3ed4c6.jpg

Solaire as of March 15 also:

http://farm8.staticflickr.com/7199/6987176357_338dc724ac.jpg

http://farm8.staticflickr.com/7188/6987175093_5f33cb9ee2.jpg

http://farm8.staticflickr.com/7054/6987173867_895d624883.jpg

Aseana One:
http://farm8.staticflickr.com/7062/6841061680_8284445d3f.jpg

........

Originally Posted by InfinitiFX45 January 24th, 2012, 3:01 AM - PARAÑAQUE | BGX Entertainment Complex Thread (Post #2)

they already starting the construction drawings for this structure, i also heard the construction will start soon this year

^^you mean Belle Diamant right?

^^you mean Belle Diamant right?

yes belle diamant...

The Belle Grande Manila construction area remains dormant as of March 18, 2012. Snapshot taken by me 8:02am Sunday
http://a5.sphotos.ak.fbcdn.net/hphotos-ak-snc7/486348_3280170717640_1068719127_3175114_1621399235_n.jpg
http://a7.sphotos.ak.fbcdn.net/hphotos-ak-ash4/484498_3280173717715_1068719127_3175117_842979456_n.jpg

^^ was there around midnight last weekend and i saw there were lights on inside the lobby of Belle Grande Manila Bay. I think work has shifted to the interiors already. also, if you can see in your photos, they have installed the points where the glass windows will be installed

^^^^

yeah ,they might be doing the interiors already. I also noticed that they have already finished the metal strap installation used to fixed/attached the glass curtain wall at the 2 buildings in the middle.

It's great news that work just shifted to the interiors. :D

^^ was there around midnight last weekend and i saw there were lights on inside the lobby of Belle Grande Manila Bay. I think work has shifted to the interiors already. also, if you can see in your photos, they have installed the points where the glass windows will be installed


Really?! Thats great news! May mga photos ka? Paki share naman thanks a lot bro!

Okada, other Pagcor investors to fund NAIA Expressway :cheers: :banana: :banana: :banana:

by Lois Calderon | ANC | Wednesday | Posted at 03/21/2012 7:58 PM | Updated as of 03/21/2012 9:29 PM

MANILA, Philippines - The government has widened its NAIA Expressway project to stretch all the way to Pagcor City, and Pagcor's controversial investor, Kazuo Okada, again comes up as among its financiers.

Originally, the elevated expressway will run from NAIA’s sales interchange that's linked up to the Skyway to Roxas Boulevard.

But Public Works Secretary Rogelio Singson said Pagcor’s chairman Cristino Naguiat and the four investors in its so-called Entertainment City want the expressway to be extended to Diosdado Macapagal Avenue.

The NAIA Expressway project is one of the government's large-scale public-private partnership projects, contracts for which, President Aquino wants to be clean.

Singson sees no problem in having Okada on board.

“That's the concern of Pagcor. Whether it's Okada or some other investors coming from the Pagcor City, that's for them to agree on. But we met with the representative of that group and they have no problem,” he said.

Okada's Universal Entertainment is one of Pagcor City's licensees. Others are Andrew Tan's Alliance Global, which tied up with Genting Hong Kong, Henry Sy’s Belle Corp. and Enrique Razon's Bloomberry Investments.

Okada is embroiled in a corporate and legal battle with American casino billionaire Steve Wynn, who alleged Okada bribed Pagcor officials to get the license.

Singson said Pagcor's investors will fund half of the P12-billion NAIA expressway project. The rest will be shouldered by whoever wins a bidding slated for September.

“We're winding up our meetings and just agreeing on the investment that we expected.”

“Originally there was government subsidy, we're taking out that government subsidy and the locators are the ones providing that component so we will still go for bidding in terms of who will be the operator, who will construct the project, but with the assurance that there will be investment coming from the locators,” Singson added.

This early, Manuel Pangilinan's Metro Pacific Investments Group said it's interested in joining the bidding.

“All of those projects in the high-standard highways plan are of interest to us. In particular, the Cala and NAIA expressway are of interest to us,” said MPIC president Jose Ma. Lim.

Singson said apart from Metro Pacific, the Citra group and Ramon Ang's San Miguel have expressed interest in investing in the project.

Source: http://www.abs-cbnnews.com/business/03/21/12/okada-other-pagcor-investors-fund-naia-expressway

Cladding (GLASS CLADDING, not the concrete ones for the base) went up in the side facing Macapagal. :D

will take photos this weekend.

Nice update. I like the gold cladding ! :cheers:

BELLE CASINO update(from ASEANA CITY'S FB Page)
sample cladding
http://a2.sphotos.ak.fbcdn.net/hphotos-ak-prn1/559176_10150670904497530_322288687529_9286806_654890274_n.jpg
facing roxas blvd.
http://a7.sphotos.ak.fbcdn.net/hphotos-ak-ash3/523072_10150670905637530_867882798_n.jpg


*http://www.facebook.com/aseanacity

I wish they get rid of those ugly looking street lights and replace it with nicer ones like the ones at the fort! I don't think the sidewalks are wide enough to have tress either.

LED lights are way efficient and brighter, but for some unknown reasons, I don't know why our government never bothered to replace them with LED's.

With all the tourist this city is expecting, I think it would be wise we build wider sidewalks for the people to walk around from one hotel to the next just like in Las Vegas. Hope our government is listening.

^^ Agree.

Those electrical posts would have to go and it would look great if they have center islands lined with palm trees. The avenues can be an attraction in itself once this area gets filled up, but it seems like they didn't plan for that. Typical of government lead and initiated projects.

some of the golden claddings have reached the north side of Belle Grande. Snapshots taken by me this Holy Thursday April 5, 2012 around 5:30pm
http://a7.sphotos.ak.fbcdn.net/hphotos-ak-prn1/546913_3379630484072_1136142143_n.jpg
http://a4.sphotos.ak.fbcdn.net/hphotos-ak-ash3/530881_3379631604100_1068719127_3227490_744046758_n.jpg
http://a6.sphotos.ak.fbcdn.net/hphotos-ak-prn1/535966_3379632804130_1068719127_3227491_1788420240_n.jpg

tapos na pala sa loob ang plumbings, kaya pala claddings na at tumigil sila kamakialan

tapos na pala sa loob ang plumbings, kaya pala claddings na at tumigil sila kamakialan

Work seemed to have slowed down considerably at belle resort. Didnt notice much people working. I also didnt notice any tower cranes that should life all the const materials. Light6s are often closed at night. Things are so different however on the nearby solaire prokect where i see cranes and people working thru the night. Maybe belle is having design problems or worse liquidity problems.

LED lights are way efficient and brighter, but for some unknown reasons, I don't know why our government never bothered to replace them with LED's.

Most probably is because LED are way more expensive than ordinary bulbs. If govt insist on buying expensive leds over cheaper bulbs they might be charge with violation of the graft and corrupt practices act.

Photos taken 06 - APR - 2012.

https://lh4.googleusercontent.com/-nR9bdkRG_NA/T38a3PtqxEI/AAAAAAAACGc/jtBujBVle3A/s996/P1040206.JPG

https://lh6.googleusercontent.com/-KaoR--UfaU8/T38a6ue-0oI/AAAAAAAACGk/EeA6FrU9XK4/s996/P1040223.JPG

https://lh3.googleusercontent.com/-oMhKn4sPMdM/T38a-zEi9VI/AAAAAAAACGs/D84KhUr3lAI/s996/P1040224.JPG

https://lh4.googleusercontent.com/-KXoGD6lDurQ/T38bCzj3ipI/AAAAAAAACG0/Iz9GrNKRdfM/s996/P1040225.JPG

:)

--

p.s. For some weird reason, some of the photos I post here, though public, fail to load. The photos I post can be found in this album (https://picasaweb.google.com/112190243057769653884/SkyscraperCityContributions#).

jase, di nagloload ang pics...

^

Sorry for that. I fixed the links by changing it back to https. I've been having problems with Picasa. :(

I tried loading the page in another browser, cache and history cleared, and the photos loaded fine. :)

Photos taken 06 - APR - 2012.

https://lh6.googleusercontent.com/-KaoR--UfaU8/T38a6ue-0oI/AAAAAAAACGk/EeA6FrU9XK4/s996/P1040223.JPG

https://lh3.googleusercontent.com/-oMhKn4sPMdM/T38a-zEi9VI/AAAAAAAACGs/D84KhUr3lAI/s996/P1040224.JPG

p.s. For some weird reason, some of the photos I post here, though public, fail to load. The photos I post can be found in this album (https://picasaweb.google.com/112190243057769653884/SkyscraperCityContributions#).


^^ WOW!!! :banana: :banana: :banana: ang ganda ng gold glass

Gaming firm Belle allots P4 billion for capex

by Zinnia B. Dela Peña | The Philippine Star | Posted at 04/16/2012 7:12 AM | Updated as of 04/16/2012 9:10 AM

MANILA, Philippines - Leisure and gaming firm Belle Corp. is allotting P4 billion for its capital expenditures this year, mostly to go to the ongoing development of its $750-million integrated resort complex, Belle Grande Manila Bay.

Willy N. Ocier, vice-chair of Belle, said the rest of the capital budget will be used to complete the construction of the third 9 holes for the Tagaytay Midlands golf course as well as the development of the newest subdivision, Sycamore Heights, within Lakeside Fairways.

With more than 23 hectares in gross land area, Sycamore Heights comprises 331 residential lots averaging 374 sqm per lot. It is slated for completion by 2013.

For the gaming side, Ocier said construction of the Belle Grande Manila Bay is in full swing with a soft opening in the second quarter of 2013 followed by a grand opening in the fourth quarter.

“There’s plenty of interior work to be done. But we are rushing work,” Ocier said.

Located on a 6.2-hectare prime property along Roxas Boulevard, Belle Grande Manila Bay will have more than 25 hectares of gross floor area and will house approximately 1.8 hectares of gaming space with 350 gaming tables and 1,900 slot machines. The first floor will cater of the mass market while over 6,000 sqm of space will cater to VIPs.

Belle Grande Manila Bay will offer more than two hectares of retail and restaurant facilities and 880 hotel rooms under three brands of 5-star and 6-star quality.

This year’s capital expenditure budget, which is lower than the P5 billion spent in 2011, will be partly funded by proceeds from a recent stock rights offering.

Belle reported a 57 percent decline in net profit last year to P200.52 million on lower real estate sales and contributions from associated companies.

Revenues fell 45 percent to P696.62 million while equity in net earnings from Highlands Prime Inc. and Pacific Online Systems Corp. dipped by 10 percent to P140.48 million.

In the third quarter of 2011, Belle introduced three new pads for log cabins at The Woodlands and nine new lots in Lakeside Fairways phase 6 (Cotswold). These project extensions will carry potential sales of about P225 million.

Source: http://www.abs-cbnnews.com/business/04/15/12/belle-allots-p4-billion-capex

Parang konti lang nagtrabaho dyan..sa gabi konti lang din ilaw..unlike sa Solaire na parating busy

https://lh6.googleusercontent.com/-KaoR--UfaU8/T38a6ue-0oI/AAAAAAAACGk/EeA6FrU9XK4/s996/P1040223.JPG


gold shades kaya makikita kung dudungaw ka sa gold glass na yan pag nasa loob ka ng room? i know it will be air-conditioned and centralized pero mukhang hindi na-o-open ang mga gold glass na yan walang windows :lol::lol:

Parang konti lang nagtrabaho dyan..sa gabi konti lang din ilaw..unlike sa Solaire na parating busy


I agree, para nga tinatamad yung mga gumagawa..hehe...

kada araw dumadaan ako dyan sa area...at ang bagal nga ng paglalagay ng mga gold glass...

perso okay lang..nasa 2nd layer na rin naman sila ng paglalagay sa isa sa mga building...pati sa may likod...:lol::lol::lol:

maybe they're still testing the material???

gold shades kaya makikita kung dudungaw ka sa gold glass na yan pag nasa loob ka ng room? i know it will be air-conditioned and centralized pero mukhang hindi na-o-open ang mga gold glass na yan walang windows :lol::lol:

Casino complexes are generally designed without operable windows.

Guyz, nasa 3rd layer na sila ng pag iinstall ng glass...

Guyz, nasa 3rd layer na sila ng pag iinstall ng glass...

What do you mean 3rd layer? Di ba glass window, glass window lang---di isa lang layer? Sorry wala ako masyadong alam sa construction.

^^ baka he means nasa 3rdf floor na yung gold claddings hahahaha:bash:

^^^^

yeah third floor is what he meant nga siguro. :lol:

^^ yup, Third layer este Third level or Third floor pala (LOL)

Snapshots taken by me today April 20, 2012 Friday around 5:45pm at Roxas Boulevard going south (on my way to Cavite)

http://a5.sphotos.ak.fbcdn.net/hphotos-ak-ash3/s720x720/575483_3486568397453_1068719127_3276114_397422844_n.jpg

http://a3.sphotos.ak.fbcdn.net/hphotos-ak-ash4/s720x720/380299_3486568997468_1068719127_3276115_1076923640_n.jpg

^^^^
parang soooobrang baaaagaaaal ng pag install ng golden glasses na ito. :lol:

Nice... there's gonna be a subtle horizontal striped pattern in the glass curtain like with MOA Arena.

I wonder if they are gonna go ahead with the pyramid.

Heavy traffic lately along roxas blvd near the vicinity of belle with lots of beautification going on. sidewalks, tree planting, center island, road repairs most likely in preparation for the opening of belle and the first piece in a project (PAGCOR city) that could probably and hopefully change the fortune and image of the philippines for the better.. Worrisome though is the seemingly increasing makeshift houses within the mosque area. They might not be able to evict them anymore if they let it go on.

^^Wow Gold may kasama na ang CDO's Limketkai hotel na gold :) http://www.skyscrapercity.com/showthread.php?t=616506&page=269

^^ baka he means nasa 3rdf floor na yung gold claddings hahahaha:bash:

ay sorry po...i mean 3rd floor na nga po from the base ng building...yung pagiinstall...almost done na nga po sa 3rd...at maari na nila simulan sa pang 4th...:nuts::nuts:

napadaan ako dito kahapon.. ganda ng gold claddings lalo na pag nasisinagan ng manila bay sunset..

Belle's Pagcor City casino project faces delay :ohno: :bash:

by Katherine Visconti | Rappler.com | Posted on 04/23/2012 5:44 PM | Updated 04/23/2012 8:01 PM

MANILA, Philippines - New guidelines released by state-run Philippine Amusement and Gaming Corp. (Pagcor) have forced Henry Sy-controlled upscale property developer Belle Corp. to delay by more than a year the opening of its casino and hotel complex inside the Entertainment City in Manila.

Belle Chairman Willy Ocier said they will open "Belle Grande Manila Bay" in the later half of 2013 rather than the original schedule of second quarter of 2012.

Belle CFO Manuel Gana said Pagcor changed the number of hotel rooms required of all developers in the integrated casino and tourism hub.

"We were expecting to do a soft open this year until Pagcor released new guidelines requiring (each locator to offer) at least 800 hotel rooms," he said.

The push-back means another locator, Bloomberry Resorts Corp., led by Enrique Razon Jr., will be the first to launch a casino in Entertainment City, with an expected first-quarter 2013 opening.

"We were hoping to be the first to open in Pagcor city but that was before Pagcor issued the new guidelines," said Gana. "(Now) we hope to be able to open next year."

Belle's casino-hotel project will rise on a 3.67-hectare property, across another 2.5-hectare lot where Belle is set to build a mall.

There will be 800 rooms spread across 6-, 5- and 4-star hotels carrying three brands. The hotels will sit on top of the casino gaming floor.

The mall, meanwhile, "will probably not be 100% complete until 2014," said Ocier.

Read More: http://www.rappler.com/business/4244-belle-corp-rolls-back-opening-of-hotel-casino-project-to-2nd-half-of-2013

Belle Corp. casino in Pagcor City slated to open in 2013 :ohno: :bash:

Firm still waiting for P3B from partner LR (Leisure and Resorts World Corp.)

By: Doris C. Dumlao | Philippine Daily Inquirer | 7:14 pm | Monday, April 23rd, 2012

MANILA, Philippines—Leisure estate and gaming firm Belle Corp. plans to open its casino in Pagcor City “sometime next year” and is now awaiting an additional P3-billion fund-raising by partner Leisure and Resorts World Corp. to build the hotel portfolio required by the government.

Belle vice chairman Willy Ocier told reporters after the company’s annual stockholders’ meeting that LR would have to undertake a second round of financing to meet the front-loading of expenses arising from the Philippine Amusement and Gaming Corp.’s requirement to gaming licensees that an 800-room hotel portfolio must be up and running before the casino itself could start operations.

“They (LR) have to go through another round of cash raising. Talks are ongoing for them to actually come up with the part 2 financing to beef up equity and operational capacity but I can’t say who,” Ocier said.

Ocier said LR was supposed to come up with another P3 billion on top of its existing P3 billion in funds from equity (P1 billion) and bank financing (P2 billion). Altogether, he said LR would need P6 billion to finish the interior and fit-out of the facility and boost operating capital to operate the whole complex.

“So far, (there’s) no amendment on our arrangement but they need to fix up their side. We want to be convinced that the financing is in place. Remember that LR and its operators will be leasing the premises form us and then we’ll be sharing in the EBITDA [earnings before interest, taxes, depreciation and amortization],” Ocier said.

Under the arrangement, the LR group will get 15 percent of net winnings, or 50 percent of the casino’s cash flow (as measured by EBITDA), whichever is higher.

For its part, Belle has raised P4.5 billion from a stock rights offering and raised another P4.2 billion in debt financing which has not been fully drawn yet. This funding is deemed sufficient to keep its commitment on this project, Ocier said.

Belle Grande is being constructed on more than six hectares of land in a central area in the Aseana Business Park in Parañaque City. It will have a total gaming area of 1.8 hectares surrounded by food and beverage outlets, with luxury retail stores at the margins.

The company broke ground on the mall component in February and is expected to complete the retail complex by 2014. This mall will have 60,000 to 90,000 square meters of retail space. The mall will also have a world-class performing arts theater.

Source: http://business.inquirer.net/55375/belle-corp-casino-in-pagcor-city-slated-to-open-in-2013

Belle to build mall :cheers: :banana: :banana: :banana:

by Jenniffer B. Austria | Manila Standard Today newspaper | Monday, 23 April, 2012

Real estate and gaming firm Belle Corp. plans to build a P2-billion high-end shopping mall near its integrated casino-entertainment complex in Pagcor Entertainment City in Parañaque City.

Belle vice chairman Willy Ocier said in an interview following the annual stockholders’ meeting the company would start next week the construction of the shopping mall within the 2.5-hectare Belle Grande complex.

The mall will have a gross floor area of 260,000 to 290,000 square meters and is scheduled for completion by 2014.

Ocier said the shopping mall, which will also have a world-class performing arts theater, will target the high-end market.

“The shopping mall will complement the planned casino operations and will not compete with the SM Mall of Asia, which is very near the area,” Ocier said.

The Belle Grande, which is scheduled to open next year, will have 880 hotel rooms under three brands of five-star and six-star quality and gaming area spanning 19,626 square meters.

Source: http://www.manilastandardtoday.com/2012/04/23/belle-to-build-mall/

http://29.media.tumblr.com/tumblr_lt3gglUAsD1qa7aovo1_1280.jpgBelle Diamant

Not sure if it's legit !!! Rumored to be the new design of the convention center adjacent to the underconstruction Belle Grande Manila Bay at the Entertainment City.

Source: http://roginhood.tumblr.com/search/Belle+Diamant

updated photos April 23, 2012 Monday taken by me, at Roxas Blvd. going south bound

http://a2.sphotos.ak.fbcdn.net/hphotos-ak-snc7/s720x720/389222_3510767922426_1068719127_3288416_2072034134_n.jpg
http://a8.sphotos.ak.fbcdn.net/hphotos-ak-ash3/s720x720/545992_3510768042429_1068719127_3288417_797594700_n.jpg
http://a7.sphotos.ak.fbcdn.net/hphotos-ak-ash3/s720x720/561984_3510768522441_1068719127_3288418_41573026_n.jpg
http://a1.sphotos.ak.fbcdn.net/hphotos-ak-prn1/s720x720/564839_3510768762447_1068719127_3288419_1643064276_n.jpg
http://a8.sphotos.ak.fbcdn.net/hphotos-ak-snc7/s720x720/574811_3510769082455_1068719127_3288420_732774688_n.jpg
http://a2.sphotos.ak.fbcdn.net/hphotos-ak-prn1/s720x720/541173_3510769642469_1068719127_3288421_1784760271_n.jpg

updated photos April 23, 2012 taken by me at Macapagal boulevard going north bound

http://a1.sphotos.ak.fbcdn.net/hphotos-ak-ash3/s720x720/549295_3510771442514_1068719127_3288431_1500526632_n.jpg
http://a3.sphotos.ak.fbcdn.net/hphotos-ak-ash3/s720x720/562667_3510771802523_1068719127_3288432_1233589762_n.jpg
http://a8.sphotos.ak.fbcdn.net/hphotos-ak-prn1/s720x720/564335_3510772322536_1068719127_3288434_1644936235_n.jpg
http://a2.sphotos.ak.fbcdn.net/hphotos-ak-ash3/s720x720/562375_3510772642544_1068719127_3288435_1360340718_n.jpg
http://a6.sphotos.ak.fbcdn.net/hphotos-ak-ash3/s720x720/536157_3510773082555_1068719127_3288437_1801491825_n.jpg

wow , the gold glass curtain wall looks like a giant led screen where you can see the reflection of the manila bay sunset.

beautiful :cheers:

panira yung shell sa harap ng belle.. hehehe.. sana irelocate sila sa kabilang lote...

Belle Corp. reports P52.5M in Q1 profit

by Doris C. Dumlao | Philippine Daily Inquirer | 4:24 pm | Wednesday, April 25th, 2012

MANILA, Philippines—Leisure estate and gaming company Belle Corp. grew its first-quarter net profit by 4.9 percent to P52.47 million on higher interest income, foreign exchange gain and equity in net earnings of associates.
In a regulatory filing, Belle reported that revenues for the first quarter dropped by 51.5 percent to P96.94 million due to a decline in the sale of real estate and club shares.

“The company has been devoting significant resources to development activities connected with Belle Grande Manila Bay, its integrated resort project located in Parañaque City, which is targeted for its grand opening during 2013,” Belle said in its quarterly report.

On the other hand, Belle’s first-quarter results were boosted by the increase in interest income to P28.9 million from only P300,000 year on year, in turn due to increases in cash levels in anticipation of requirements for the Belle Grande hotel-casino project. This cash level included a $50-million deposit required to be maintained under the license issued by the Philippine Amusement and Gaming Corp., of Pagcor.

The significant increase in 2012 deposit levels was funded mainly by new long-term loan drawdowns amounting to P2.2 billion, which funded the escrow deposit required by Pagcor and the last installment of its stock rights offering.

Belle’s share in the net earnings from associated companies also increased by 2 percent to P38.1 million during the first quarter from a year ago, due mainly from its 35 percent-owned associate Pacific Online Systems Corp.
A foreign exchange gain of P15.9 million was also posted in the first quarter, 61 percent higher than the forex windfall in the same period a year ago. The gains were mostly derived from its foreign currency-denominated debt paper due 2014 and worth $22 million.

Belle posted positive consolidated retained earnings of P390.7 million as of end-March.

Source: http://business.inquirer.net/55661/belle-corp-reports-p52-5m-in-q1-profit

http://29.media.tumblr.com/tumblr_lt3gglUAsD1qa7aovo1_1280.jpgBelle Diamant

Not sure if it's legit !!! Rumored to be the new design of the convention center adjacent to the underconstruction Belle Grande Manila Bay at the Entertainment City.

Source: http://roginhood.tumblr.com/search/Belle+Diamant

^^^^ Its not the convention center or the mall Belle Diamant is the proposed second Casino of Belle Corporation to PAGCOR.

snapshots taken by me April 26, 2012 Thursday, going south bound at Roxas Blvd.

http://a3.sphotos.ak.fbcdn.net/hphotos-ak-ash3/577291_3534132106516_1068719127_3298722_1986821172_n.jpg
http://a7.sphotos.ak.fbcdn.net/hphotos-ak-snc6/149774_3534131266495_1068719127_3298720_1094167230_n.jpg

wow! ang bilis nila mag install ng gold claddings ngayon..:cheers:

Lalaki puno ng alindog ng isang raketa ng tennis, hindi makaligtaan: http://www.todo-color.com/goods_aWQJODU2.html

love the glass cladding !

snapshots taken by me April 26, 2012 Thursday, going south bound at Roxas Blvd.

http://a3.sphotos.ak.fbcdn.net/hphotos-ak-ash3/577291_3534132106516_1068719127_3298722_1986821172_n.jpg
http://a7.sphotos.ak.fbcdn.net/hphotos-ak-snc6/149774_3534131266495_1068719127_3298720_1094167230_n.jpg

just flew out of NAIA3 yesterday morning and I didn't realize that this can be seen from the terminal while waiting for boarding and so is Solaire.. nice..

just flew out of NAIA3 yesterday morning and I didn't realize that this can be seen from the terminal while waiting for boarding and so is Solaire.. nice..

tol, sana kinunan mo ng photo

^^

I just noticed andrewayala, You keep on posting the photos above on threads related to malls...

ano pa ba ung 3 brands ng hotel na mg ooperate sa belle grande? alam o discovery yung isa eh..

No new pictures here can only mean one thing: no significant progress in the construction.

No new pictures here can only mean one thing: no significant progress in the construction.

Or, no one just passed by the area with a camera for a while now. :lol:

we passed by the area yesterday and it's now half-covered from all sides....

we passed by the area yesterday and it's now half-covered from all sides....

^^
See :lol: wala lang napapadaan with cameras dun sa site. :lol:

No new pictures here can only mean one thing: no significant progress in the construction.

1 Bedroom (combined studio) unit FOR SALE @ Beacon Makati
Hi. We're selling our 1 Bedroom (combined studio) unit at Arnaiz Tower 2. Pre-selling price. P918k down then assume balance. Turnover is 2013. PM me if interested. Thanks.

go advertise in sulit.com.ph this is skyscrapercity. :bash::bash::bash:

Nice. I hope somebody can post updated pics .

we passed by the area yesterday and it's now half-covered from all sides....

kaunti na lang at covered na ng gold claddings yung lahat ng tower nila..

Took this photo around 7:30am May 17, 2012 Thursday on my way to work.
http://a5.sphotos.ak.fbcdn.net/hphotos-ak-ash3/546440_3674414813496_2011877837_n.jpg
http://a3.sphotos.ak.fbcdn.net/hphotos-ak-ash4/380258_3674427373810_1068719127_3354703_299189523_n.jpg
http://a4.sphotos.ak.fbcdn.net/hphotos-ak-ash3/551057_3674453694468_1068719127_3354707_1141176584_n.jpg

nice, thanks for the pics.
pangit pala pag may shades, it looks way better when reflected with lights.

nakakasira talaga sa view ang mga aerial utility lines...:ohno:

napadaan din ako kahapon..ganda nun mga windows pang casino talaga gold digger eka nga...isa din ako sa nag apply dito sana makapasok dito or sa bloomberry any info bout sa hiring nila for casino personel?

sana nga lipat nalang nila yun jollibee shell..

yun gold glass windows bagay talaga sa casino pansinin

^^ very beautiful glass.. :)

Belle Grande Manila almost covered in gold claddings. Photo update by DCRJ (Dan C Rivera Jr) June 1, 2012 Friday
http://a5.sphotos.ak.fbcdn.net/hphotos-ak-snc6/282996_3756892515387_1068719127_3395092_175766672_n.jpg

Updated photo of Belle Grande Manila, snapshot by DCRJ (Dan C Rivera Jr) from Shell gas station, June 1, 2012 Friday
http://a3.sphotos.ak.fbcdn.net/hphotos-ak-snc6/283657_3756907595764_1068719127_3395098_940461476_n.jpg

Kaya maraming nadidisgrasya eh. Pakitang gilas itong mga kolokoy na ito...sa 8th floor pa, sige pagpatuloy nyo lang yan...LOL. Belle Grande Manila construction update June 1, 2012 Friday
http://a2.sphotos.ak.fbcdn.net/hphotos-ak-prn1/547713_3756920516087_422578272_n.jpg

Belle Grande Manila almost covered in gold claddings. Photo update by DCRJ (Dan C Rivera Jr) June 1, 2012 Friday
http://a5.sphotos.ak.fbcdn.net/hphotos-ak-snc6/282996_3756892515387_1068719127_3395092_175766672_n.jpg

Updated photo of Belle Grande Manila, snapshot by DCRJ (Dan C Rivera Jr) from Shell gas station, June 1, 2012 Friday
http://a3.sphotos.ak.fbcdn.net/hphotos-ak-snc6/283657_3756907595764_1068719127_3395098_940461476_n.jpg

Kaya maraming nadidisgrasya eh. Pakitang gilas itong mga kolokoy na ito...sa 8th floor pa, sige pagpatuloy nyo lang yan...LOL. Belle Grande Manila construction update June 1, 2012 Friday
http://a2.sphotos.ak.fbcdn.net/hphotos-ak-prn1/547713_3756920516087_422578272_n.jpg

:lol::lol::lol: sir, naka safetyharness naman sila kaya safe pa rin ang mga yan sakaling maoutbalance. ang gara ng mga kuha niyo sir. thanks sa mga updated photos.

siguraduhin lang nila na naka safety harness sila dahil ones na nahulog sila may chance na mapatigil ng city govt yun construction at madedelay ang lahat....

wow , SM is very generous pati yung shear wall at parapet covered din ng glass. nice update.

wow , SM is very generous pati yung shear wall at parapet covered din ng glass. nice update.

Actually they did the right thing, if they did a plain cement finish at that wall it would look like a podium parking casimo.

06.03.12

http://i45.tinypic.com/n5rh9g.jpg

^^ nice.. ang ganda...

ang ganda ilang floors ba kada tower?

The cladding's nice the only problem is people can not appreciate the structure because its obstructed at every point to view.

nice update. installation of glass curtain wall is really fast.

06.03.12

http://i45.tinypic.com/n5rh9g.jpg

Senate panel wants PAGCOR out, new gaming commission in :cheers: :banana:

by KIMBERLY JANE TAN | GMA NEWS | Thursday | June 7, 2012 | 3:17pm

A Senate panel wants the Philippine Amusement and Gaming Corporation (PAGCOR) abolished and replaced with the Philippine Amusement and Gaming Commission (PAGCOM).

Three Senate committees–on games and amusement, on finance and on government corporations and public enterprises–heard on Thursday Senate bill 3178.

"Ang essence hindi na mag-ooperate ng casino ang [PAGCOR],” said Sen. Koko Pimentel, chair of the Senate committee on games, after Thursday's hearing on SB 3178.

“I agree with Sen. Recto, that is an anomaly. It should be out of operating casinos or allowing operating gambling facilities, but–instead–regulate the gambling facilities," Pimentel added.

Time is ripe to start the transition from PAGCOR to PAGCOM, because of the impending construction of "Entertainment City Manila," a multibillion-dollar tourism and casino complex, Pimentel noted.

"Entertainment City will be operational February next year", he said. “So I think the bill to abolish PAGCOR is timely given this development."

SB 3178 would privatize casino operations, with PAGCOM just regulating and collecting fees from casinos, Pimentel noted.

The measure specifies that PAGCOM will collect 5 percent as gross revenue tax and 50 percent of aggregate gross earnings of casino operators.

PAGCOM will allot 37.5 percent of its collection to the Department of Education basic education program, 2.5 percent to priority projects of local government units hosting the gaming facility, and 5 percent to create a trust fund with Department of Social Welfare and Development.

The trust fund will be used to build rehabilitation centers for different types of addictions.

Concerns of PAGCOR employees

PAGCOR president Jorge Sarmiento, however, is concerned that these new fees may "put Filipino operators at a disadvantage."

Sen. Ralph Recto, the bill’s author and chair of the Senate government corporations committee, said the goal is to attract more tourists and foreign investors.

"We have to look at it with a wider perspective,” Recto said during the hearing. “We're open to your suggestions and amendments." Pero ‘wag naman ninyo sabihin na ‘wag kaagad.

“Maybe we can pass this early on and [make it] applicable in 2015 or 2016."

Sarmiento also aired the concerns of PAGCOR employees with their jobs once PAGCOR is abolished.

Recto said he has no problem with improving the benefits of PAGCOR employees as stated in the bill.

"Lahat naman… [ng abolition of agencies] nadaanan before ng gobyerno," Pimentel added.

Under the measure, PAGCOR officials and employees opting not to be absorbed by PAGCOM will receive a severance package with the following rates:

Two months of basic monthly pay for every year of service up to 20 years.
Three months of basic monthly pay for every year of service in excess of 20 years.

The package will be given on top of separation and retirement benefits officials and employees will receive from PAGCOR. Those who will accept the package will no longer be eligible for employment under PAGCOM–five years from their separation or retirement.

Officials and employees who will stay with PAGCOM will get a regular plantilla position and enjoy a compensation package not subject to the Salary Standardization Law.

Source: http://www.gmanetwork.com/news/story/261004/economy/companies/senate-panel-wants-pagcor-out-new-gaming-commission-in

Sy eyes casino deal with Melco

Posted June 28th, 2012 by Manila Standard Today & filed under Business.


Belle Corp., controlled by companies belonging to billionaire Henry Sy, said it is in talks with Melco Crown Entertainment Ltd. to set up a Manila casino.

Belle, which Sy’s SM Investments Corp. invests in, is discussing the partnership although nothing is final, vice chairman Willy Ocier said Wednesday. Melco Crown is the casino joint venture of Australian billionaire James Packer and a son of Hong Kong billionaire Stanley Ho.

Belle climbed 8.1 percent to P5.20 on news of the talks, which would give it a partner that has succeeded in boosting gambling revenue in Macau, the world’s largest gaming hub. For Melco Crown, the deal would drive growth outside the Chinese city that helped boost its first-quarter profit 17-fold.

“A partnership with a seasoned and experienced foreign player will give this venture an edge and turn it into a better contender,” said Richard Laneda, analyst at Manila-based CitisecOnline.com, on the benefits of any agreement to Belle. “This partnership will make SM’s casino investment more promising.”

Sy’s SM Investments Corp., owner of the largest Philippine bank and retailer, counts Belle as one of its portfolio investments. Belle is 62.33-percent owned by companies identified and linked with Henry Sy and SM Investments, according to data compiled by Bloomberg.

Henry Sy, 87, went from running a shoe store that he started in 1948 in Manila to become the Philippines’ richest man.

Belle holds one of four licenses that the Philippines awarded in 2008 and 2009 to operate a gambling and entertainment complex in Manila that the government is developing to compete with Macau and Singapore. Belle’s competitors include Genting Hong Kong Ltd., Philippine port magnate Enrique Razon Jr. and Japanese billionaire Kazuo Okada, who are the holders of the other three licenses.

The Australian Financial Review reported that Melco Crown is close to a deal, and that Packer and Stanley Ho’s son Lawrence flew to Manila to sign an agreement with Henry Sy Jr., the eldest son of the Philippine billionaire. Sy Jr., is vice
chairman at SM Investments.

Maggie Ma, a spokesman for Melco Crown, couldn’t immediately be reached for comment via phone or e-mail.

Melco Crown is awaiting regulatory approval for a resort, the Studio City, on the Cotai Strip in Macau. Packer’s Crown Ltd., the owner of casinos in Melbourne and Perth, has a 10-percent stake in Australia’s Echo Entertainment Group Ltd. and applied to raise the holding in February.



(Published in the Manila Standard Today newspaper on /2012/June/28)

Share on facebookShare on twitterShare on emailShare on printMore Sharing Services

SM group says in talks with Melco for casino tie-up

Reporting by Rosemarie Francisco; Editing by John Mair | REUTERS | Manila, June 27 | Tue Jun 26, 2012 | 9:11pm EDT

MANILA, June 27 (Reuters) - Philippine conglomerate SM Investments, owned by the country's richest man Henry Sy, is in talks with Melco Crown Entertainment Ltd for a deal involving a $1 billion casino-resort project in Manila, the SM group said on Wednesday.

"There's discussion but nothing final," Corazon Guidote, spokeswoman for SM Investments, told Reuters via a mobile text message.

The Australian Financial Review reported on Wednesday that Australian billionaire James Packer and Macau gambling tycoon Lawrence Ho were set to sign a deal with the Sy group to develop the casino project.

SM controls Belle Corp, which is building an integrated entertainment resort complex called Belle Grande Manila Bay that features a 30,000 square-metre casino.

Source: http://www.reuters.com/article/2012/06/27/philippines-casino-sm-idUSP9E8G700L20120627

Melco Crown ‘in talks’ over Philippines casino partnership

by Simon Liddle | Intergameonline | Wednesday | June 27, 2012

Melco Crown is reportedly in discussions with Belle Corp over a potential casino partnership in the Philippines.
Belle Corp is one of four licensees committed to building major casino resorts in the Manila Bay area as part of Pagcor’s Entertainment City complex. Melco Crown, meanwhile, operates two casino resort properties in Macau, including the City of Dreams resort.

A spokeswoman for SM Investments Corp, the parent company of Bell Corp, told the media that the two companies are in talks but “nothing is final.”

The other developers building resorts within the Manila project are Bloomberry Resorts; a joint venture between Genting and Alliance Global; and Kazuo Okada’s Universal Entertainment Group.

Source: http://www.intergameonline.com/casino/news/7594/melco-crown-in-talks-over-philippines-casino-partnership

Belle in casino talks with Aussie, Macau tycoons

by Zinnia B. Dela Peña | The Philippine Star | Thursday | Updated June 28, 2012 12:00 AM

MANILA, Philippines - Belle Corp., a leisure developer and gaming firm controlled by the family of the country’s richest man Henry Sy, is in discussions with Melco Crown Entertainment Ltd., a the casino operator run by Australian billionaire James Packer and Macau gambling tycoon Lawrence Ho, for a possible casino venture in the Philippines.

Belle vice chairman Willy N. Ocier said talks are still ongoing and nothing final has been agreed.

The Australian Financial Review newspaper reported that Packer and Ho were set to sign a deal with the Sy family to expand their casino empire into the Philippines.

When asked whether the deal would involve an investment by Melco Crown in the venture, Ocier said: “We’re not sure about that. We’re still talking.”

Belle is building Belle Grande Manila Bay, a $1-billion integrated entertainment resort that has attracted interest from some of Asia’s richest tycoons.

Packer was earlier reported to be increasingly turning to casinos to expand his business as he aims to create a Pan-Asian gambling empire. His company, Crown Ltd., owns about a third of Melco Crown, which owns fast-growing casinos in Asia’s gambling capital of Macau.

Packer and Ho earlier signified their interest to make their presence felt in the Philippines, which is seen to become a major gambling destination similar to Macau and Singapore.

Located at the more than 100-hecare Entertainment City along Roxas Blvd., Belle Grande Manila Bay will have a gross floor area of more than 25 hectares when it opens its doors to the public in 2013. The complex will house 1.8 hectares of gaming space with around 350 gaming tables and 1,900 slot machines.

The main podium will feature six luxury hotel towers with more than 800 rooms under three brands of five-star and six-star quality.

The resort complex will also contain more than two hectares of retail and dining operations. The mall, with a gross floor area of 60,000 to 80,000 square meters, is expected to be completed within 12 to 18 months.

Belle is one of the four licensees awarded by the Philippine Amusement & Gaming Corp. in 2008 and 2009 to operate casino resorts in the Manila Bay area. Pagcor expects the resorts to generate annual gambling revenue of as much as $11 billion after five years of operation, overtaking Las Vegas.

Source: http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=821627

Snapshots taken by me June 28, 2012 Thursday around 5:30pm
http://a7.sphotos.ak.fbcdn.net/hphotos-ak-snc6/206078_378389185548886_615668103_n.jpg
http://a3.sphotos.ak.fbcdn.net/hphotos-ak-prn1/548707_378390075548797_36827738_n.jpg
http://a6.sphotos.ak.fbcdn.net/hphotos-ak-ash3/557062_378390802215391_1047229278_n.jpg

^^^^^^^^^^^^^^^^^^

Parang di parin sinisimulan yung BGX entertainment Complex

:ohno::ohno::ohno::ohno::ohno::ohno::ohno::ohno::ohno:

Thanks for the updates @ DCRJ .The glass curtain wall is almost done and it looks like wala na yung glass pyramid on top of the podium.

Very nice looking golden glass cladding but it needs something to spice it up a bit. It's not very enticing looking right now for a casino complex. I'm hoping for some spectacular lighting around the podium, maybe even LCD? That pyramid would be missed.

nagumpisa na yung bgx....yung foundations nilalagay.

Will the Shell be removed? Panira ng view ata.

^^

i agree. medyo panira nga yung Shell station. :lol:

I just heard its now official, melco group will be operating the belle casinos, Sy's partner willie ocier of the leisure resort group meanwhile will now only own 13% of the entire project. Eh wala naman talagang pera si ocier to pursue this project buti na lang the melco group has jumped on board or else we'll see further slowdown in the construction. Also megawide construction has been replaced by excel construction corp. We should expect accelerated construction activities in the days ahead.

For those following the stock market, we should see some upward movement in belle and leisure resosrt stocks next week.

It says the Belle Grande Phase 2 was just started last February and to finish on the 1st quarter of 2014.

Do you have any rendered drawing available what it looks like? and it's amenities?

for sure this is not part of the original project.

And where it is located..? Annex lang po ba?



:ohno:

I expect that the construction would go on a faster pace now after the LR-BEL issue has been resolved. Melco is a welcome addition.

Thanks to DCRJ for the pics. I am amazed at how fast they can work if they want to. I saw the place last Sunday (4 days before DCRJ took the pics) and I was disappointed at the slow pace. But lo and behold, 4 days later, nearly all have been fully covered.

@Romolon, where did you read that? I have not read anything close to that.

Isn't it the second render with an out-of-this-world design? The eggy-like structure?

Originally Posted by InfinitiFX45 January 24th, 2012, 3:01 AM - PARAÑAQUE | BGX Entertainment Complex Thread (Post #2)

I mean this one???

akala ko pa naman separate yun melco crown casino sa belle kumbaga ibang stracture parang bumuli lang sila ng stock sa belle grande...

inaabangan ko din yun pagstart ng hiring nila...

Melco would be the managing partner of sm on the belle casino resort but i heard melco is also interested in setting up their own casino complex. I feel they arent that 100% convinced on the feasibility of huge casino operations in the country so that they partnered first with sm to test the waters so to speak.

http://www.abs-cbnnews.com/business/07/05/12/henry-sys-belle-corp-seals-1b-casino-deal

Henry Sy's Belle Corp. seals $1B casino deal
ABS-CBNnews.com
Posted at 07/05/2012 8:22 PM | Updated as of 07/05/2012 8:30 PM
Tweet

MANILA, Philippines - Henry Sy's Belle Corp. sealed a deal with Australian billionaire James Packer and Macau gambling tycoon Lawrence Ho to jointly develop a $1-billion casino in Manila.

Belle, whose parent company is SM Investments, will be working with Packer and Ho through their joint venture casino operator Melco Crown Entertainment (MCE). Ho is the son of Macau gaming mogul Stanley Ho.

In a statement sent out Thursday night, SM Investments said it signed on July 5 a "Memorandum of Agreement (MOA) with Macau-based Melco Crown Entertainment group of companies for a collaborative partnership in the development and operation of Belle’s integrated resort complex at Aseana Boulevard, Parañaque."

"Belle has agreed to join with MCE under a new consortium to create a premiere integrated resort complex," SM Investments said.

"Subject to PAGCOR requirements, Belle and MCE plan to create a US$1 billion premiere integrated resort facility and enter into implementing and definitive agreements within the next two months," the company added.

MCE is the owner and operator of the resort complex in Macau known as “City of Dreams."

Belle holds one of four licenses handed out by the Philippine Amusement and Gaming Corp. (Pagcor) to build a casino worth at least $1 billion each at the Entertainment City in Manila Bay, Parañaque.

It's sealed: Packer, Ho and Sy in Manila casino venture

by Rappler.com | Thursday | Posted on 07/05/2012 6:49 PM | Updated 07/05/2012 9:53 PM

http://static.rappler.com/images/richest-in-ph-macau-australia-in-casino-deal.jpg

MANILA, Philippines (UPDATED) - Casino billionaires James Packer and Lawrence Ho are now on board with the group of the Philippines' richest man Henry Sy for a $1-billion gaming venture in Manila.

On Thursday, July 5, Belle Corp, a unit of Sy's SM Investments Corp, signed a memorandum of agreement (MOA) with Melco Crown Entertainment for the development of a casino and entertainment resort within the 120-hectare Entertainment City of state-run Pagcor that will rise on a reclaimed area along Manila Bay and near the Manila airport.

"Belle has agreed to join MCE (Melco) under a new consortium to create a premier integrated resort complex," SM Investments Corp announced in a statement.

Ho, son of casino mogul Stanley Ho, and Australian billionaire Packer, co-own Melco.

Under the MOA, the parties will "negotiate in good faith and sign upon the satisfaction of various conditions within 60 days a consortium agreement, which will include the agreed form of certain implementing agreements for the leasing, development, operation and management" of the project, Melco said in a disclosure to the Nasdaq stock market.

Melco said the consortium agreement is conditional upon the project's registration with the Philippine Economic Zone Authority as a tourism economic zone, which will be subject to tax incentives and other perks.

"The MOA is legally binding. On signing of the consortium agreement, the MOA shall terminate and be superseded," the company's disclosure read.

Melco, whose flagship project is the famous City of Dreams, is a developer of casino and entertainment facilities in Macau, the world's gambling mecca.

Casino partnerships

In the casino business, providing different gaming destinations for the high-roller clients is the name of the game.

Casino investors have been setting up a network of casinos in different locations -- often in different countries -- to offer their prized clients something and some place new.

Belle was initially considering partnering with US-based Harrah's Entertainment, the world's largest casino operator. However, talks failed in 2010, prompting Belle to tap local public company Leisure & Resorts World Corp (LRWC) instead.

There's no mention of LRWC in SM Investment's and Melco's announcements.

Construction of Belle's Belle Grande Manila Bay in the Entertainment City is currently in full swing. It is expected to hold its grand opening in the first quarter of 2013.

Other Pagcor licensees

The Belle-Melco group are up against 3 other groups also awarded licenses to build and operate casino-tourism complexes in the Pagcor gaming hub.

The biggest player so far is Japan's Universal Entertainment Corp led by controversial pachinco billionaire Kazuo Okada.

Okada's group said they will invest $2 billion in a casino-hotel project set for completion by 2014.

Okada and his partner-turned-foe, Steve Wynn, have several Wynn Resorts in Macau.

The other players include Philippine tycoon Andrew Tan's Alliance Global Group, which has a joint venture with Genting Bhd of Malaysia.

The last is Bloomberry Investments, which is led by fast-rising billionaire and global port operator Enrique Razon Jr.

Gaming to boost PH growth

The Philippine government wants to accelerate construction of the casinos, which it expects will trump those in Las Vegas and Singapore in the next 4 years.

Pagcor chairman Cristino Naguiat earlier said that revenues from Entertainment City are expected to hit $10 billion by 2016, when all 4 locators start full operations.

Boosting the casino industry will also help the country meet its goal of increasing tourists, who will spend not only for gaming, but other leisure and entertainment activities.

Naguiat said Pagcor's project can accommodate an additional one million tourists, one-tenth of the government's target of 10 million by 2016. - Rappler.com

Source: http://www.rappler.com/business/8139-it-s-sealed-packer,-ho-and-sy-in-manila-casino-venture

http://29.media.tumblr.com/tumblr_lt3gglUAsD1qa7aovo1_1280.jpgBelle Diamant

Not sure if it's legit !!! Rumored to be the new design of the convention center adjacent to the underconstruction Belle Grande Manila Bay at the Entertainment City.

Source: http://roginhood.tumblr.com/search/Belle+Diamant

Ang ganda nito no... Tiyak Philippines will be the next big thing in Asia...:banana::banana:

Tycoons Sy, Packer, Ho team up for casino in Manila

by Farah Master and Erik dela Cruz | ABS-CBN News (Reuters) | Posted at 07/06/2012 9:31 AM | Updated as of 07/06/2012 9:48 AM

Deal brings together Macau's Melco, Philippine's Belle

HONG KONG/MANILA - Macau casino Melco Crown and Philippine leisure firm Belle Corp signed a conditional deal to develop a $1 billion casino-hotel that will see some of Asia's biggest tycoons team up in Manila, touted as a promising new gambling market.

Melco, owned by Australian billionaire James Packer and Hong Kong businessman Lawrence Ho, will join forces with the Philippines' wealthiest man, Henry Sy, who controls Belle to jointly develop and manage the hotel set to rise in a more than 100-hectare gaming complex.

The companies said on Thursday an agreement was set to be finalised within the next two months.

Melco will invest no more than $580 million using cash, cash flow and debt financing to help fund the casino resort, the company said in a statement.

A loan facility of $320 million may also be made available to help finance the project, Melco said.

It will be the first time for Melco to venture into the Philippines as it has focused on Macau, the world's top gambling market, where it is waiting final approval to build a casino resort.

The $12 billion company is one of six licensed operators in Macau where the pace of casino expansion is tightly controlled by the government.

"The expansion into new jurisdictions where the company expects strong returns on capital will further diversify the company's exposure in Asia," Melco said.

Macau's gambling revenue growth has dropped significantly in the past two months, hitting a near 3-year low in May while June's figure was weaker than expected.

Analysts are optimistic on the Philippines' future growth despite a broader slowdown in the global economy. Locals are legally allowed to gamble in the Philippines, creating a much larger pool of customers than in markets such as Vietnam where casino gambling is restricted to foreign passport holders.

CLSA predicts gambling revenue in the Philippines will grow from US$1.3 billion in 2011 to US$3 billion in 2015 once three new resorts are completed.

MANILA, VIETNAM, AUSTRALIA

Casino expansion across Asia is mushrooming with Vietnam also due to open a new casino resort in 2013 and markets such as Taiwan and South Korea consider legalising gambling.

James Packer's Australian casino group Crown Ltd and Southeast Asia's largest gambling group Genting have both been raising their stakes in Sydney casino operator Echo Entertainment.

Belle plans to build an integrated entertainment resort complex called Belle Grande Manila Bay, which features a 30,000-square-metre casino in a developing gaming and retail destination known as Entertainment City in Manila.

Three other casino licensees are set to operate in the sprawling gaming area by the Manila Bay, a project of state regulator Philippine Amusement & Gaming Corp, or Pagcor.

The biggest of the four projects is a $2 billion casino-hotel complex being built by a unit of Japan's Universal Entertainment Corp set for completion in 2014.

The two other developers are Bloomberry Resorts Corp of Filipino billionaire Enrique Razon and the joint venture between Genting Hong Kong Ltd and Alliance Global Group .

Bloomberry has hired Las Vegas-based Global Gaming Asset Management to operate its $1 billion Solaire Manila casino-hotel complex, construction of which will be completed next year.

Source: http://www.abs-cbnnews.com/business/07/06/12/tycoons-sy-packer-ho-team-1b-casino-manila

Ang daming construction workers ma hire nito :) increase in consumption spending !

Melco Crown's Memorandum of Agreement with Belle group

Melco Crown Entertainment Announces Discloseable Transaction Relating to Memorandum of Agreement for Development and Operation of a Casino, Hotel, Retail and Entertainment Complex in the Philippines

MACAU, July 5, 2012 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited ("Melco Crown Entertainment" or "the Company") (SEHK:6883) (Nasdaq:MPEL), a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market, is pleased to announce that on July 5, 2012, MPEL Projects Limited, an indirect wholly-owned subsidiary of the Company, has entered into a memorandum of agreement (the "MOA") whereby MPEL Projects has agreed with SM Group, Belle Corporation and PremiumLeisure and Amusement, Inc. (collectively, the "Philippine Parties"), to negotiate in good faith and sign upon the satisfaction of various conditions precedent within sixty (60) days, the Consortium Agreement, which would include the agreed form of certain implementing agreements for the leasing, development, operation and management of certain parcels of land located in the Philippines, including the further development of the building structure and shell of a grand casino and hotel complex into a world-class casino, hotel, retail and entertainment complex.

http://phx.corporate-ir.net/phoenix.zhtml?c=206322&p=irol-newsArticle_Print&ID=1712047&highlight=

http://www.melco-crown.com/eng/main.php

http://i1236.photobucket.com/albums/ff450/anzenrealty/skyscrapercity%20postings/BelleGrande.jpg

Belle sees Melco tieup to open overseas gaming opportunities

by Miguel R. Camus | Business Mirror | Sunday | 08 July 2012 | 20:25

BEYOND gaining expertise and a financial boost, Belle Corp. is also betting that its partnership with Macau-based casino-resort operator Melco Crown Entertainment will pave the way for its entry into gaming markets overseas.

Belle vice chairman Willy Ocier said following the announcement on the tieup with Melco that the company is “thinking about” investing in markets like Macau should it succeed in its initial venture through Belle Grande Manila Bay. The Belle Grande projected will be situated in the Entertainment City complex within the Manila Bay reclamation site.

“It’s all about synergy,” Ocier said in a text message. “Our partners are heavyweights in Macau and Australia. This collaboration opens up so many opportunities for our group.”

The move is similar to plans by businessman Enrique Razon Jr., who’s group is also involved in a project at the Entertainment City. He earlier revealed his intention for Bloomberry Resorts Corp. to eventually invest in overseas gaming hubs like Macau or other areas that open up.

While far from being a definitive strategy at this point for Belle or any local gaming operator, analysts said investing overseas remains an attractive prospect. Macau, for instance, took in gaming revenues of $33.4 billion last year, versus the Philippines’s $1.3 billion.

“It is possible for Belle to [invest abroad] and this has its potential rewards,” Jose Lacson, head of research at stock brokerage firm Campos Lanuza and Co., said before the deal was announced. “But like Bloomberry, they have to make sure their Philippine venture works before any expansion outside.”

Belle Grande is expected to be the second casino development to open in Entertainment City next year after Bloomberry’s Solaire Resort and Casino, which is targeting to open in the first quarter.

Hong Kong-listed Melco Crown is one of six companies granted concessions or sub concessions to operate casinos in Macau, its website showed. It is a joint venture between James Packer, a billionaire at the helm of Australian integrated resorts operator Crown Ltd., and Lawrence Ho, son of Macau’s “The King of Gambling” Stanley Ho.

The company’s portfolio includes City of Dreams, an integrated casino resort, and the upcoming Studio City project, both located along the Cotai Strip, which is Macau’s response to the famed Las Vegas Strip in Nevada.

Meanwhile, Belle’s operating partner Leisure and Resorts World Corp. (LRWC) disclosed on Friday that an earlier-signed memorandum of agreement will be amended to facilitate the entry of Melco Crown, which plans to invest up to $580 million in the venture.

The extent of the revisions weren’t made clear in the disclosure but Belle said it expects to enter into implementing and definitive agreements with Melco Crown in the next two months.

Belle shares dropped 4.81 percent to P5.14 each while LRWC sank almost 8 percent to P8.50 per share on Friday.

Belle is the last licensee in Entertainment City to announce a partnership with a foreign gaming group.

Andrew Tan-led Alliance Global Group Inc. has already partnered with Malaysia’s Genting Group for their joint venture Travellers International Hotel Group Inc., which operates the existing Resorts World Manila, while Bloomberry tapped Global Gaming Philippines Llc., which is comprised of veteran casino executives from Las Vegas and Macau. The fourth licensee is a unit of Universal Entertainment Corp.

Source: http://businessmirror.com.ph/home/companies/29614-belle-sees-melco-tieup-to-open-overseas-gaming-opportunities

‘Improved’ Belle Grande to open by end-2013

by Doris C. Dumlao | Philippine Daily Inquirer | Monday | July 9th, 2012 | 2:08 am

Belle Grande, the entertainment complex rising as a partnership between Macau casino giant Melco Crown Entertainment and the SM Group, is set to open its doors to the public under an amended consortium framework by the end of 2013.
The longer wait for the opening of the establishment was due to the entry of Melco, which plans to invest up to $580 million in the $1-billion project.

Belle vice chairman Willy Ocier said in a text message that the grand opening would happen by the fourth quarter of 2013.

“Melco will improve on our design and concepts,” Ocier said.

If Belle Grande opens by the end of 2013, it will thus be the second complex to open in this area, groomed by the Philippine Amusement & Gaming Corp. (Pagcor) as an entertainment hub after Solaire Manila of tycoon Enrique Razon Jr., who leads Bloomberry Resorts Corp.

Belle’s casino was originally a partnership between Belle and Leisure & Resorts World Corp. (LR). Leisure & Resorts World and its operators originally were supposed to lease the premises from Belle.

Pagcor, however, issued a requirement that an 800-room hotel portfolio must be up and running before the casino itself can start operations.

Belle and subsidiary Premium Leisure and Amusement Inc. agreed to negotiate and sign within 60 days a consortium agreement with Melco for the leasing, development, operation and management of certain parcels of land, including the development of the building structure and shell of a grand casino and hotel complex.

The execution of the consortium agreement is conditional upon the registration of the project site as a tourism economic zone by the Philippine Economic Zone Authority, Melco said.

MPEL Projects, a company based on the British Virgin Islands, or an affiliated party will now operate the gaming and non-gaming operations as lessee.

The signing of the agreement happened shortly after the men behind Melco—Australian billionaire James Packer and Lawrence Ho, son of gaming tycoon Stanley Ho—visited the country last week.

Melco, through subsidiary Melco Crown Gaming (Macau) Ltd., is one of only six companies granted concessions or sub-concessions to operate casinos in Macau.

Its flagship project, “City of Dreams,” is an integrated urban entertainment resort with stylish nightclubs, 1,400 luxury guest rooms, chic dining, designer brand shopping, a contemporary casino and the The House of Dancing Water.

Belle Grande, the integrated tourism-gaming complex, is being constructed on more than six hectares of land at the Aseana Business Park in Parañaque City.

It was designed to have a total gaming area of 1.8 hectares surrounded by food and beverage outlets and luxury retail stores.

Source: http://business.inquirer.net/69836/%e2%80%98improved%e2%80%99-belle-grande-to-open-by-end-2013

Macau firm to sink $580 M in gambling venture with SM

by Doris C. Dumlao | Philippine Daily Inquirer | Friday, July 6th, 2012 | 1:00 pm

http://1-ps.googleusercontent.com/h/business.inquirer.net/files/2012/02/300x225xhenry-sy-300x225.jpg.pagespeed.ic.gZKUIIXbGZ.jpg
HENRY SY SR.. INQUIRER file photo

MANILA, Philippines—Macau casino giant Melco Crown Entertainment has committed to invest up to $580 million in a Philippine entertainment complex as a strategic partner of tycoon Henry Sy, becoming the single largest investor in a “world-class” entertainment complex jumpstarted by Belle Corp.

In a disclosure in Hong Kong Thursday night, Melco announced that its wholly owned subsidiary MPEL Projects Ltd. had entered into a memorandum of agreement with SM group, Belle and Belle’s subsidiary PremiumLeisure and Amusement Inc. (PLAI).

They agreed to negotiate in good faith and sign within 60 days a consortium agreement on certain implementing agreements for the leasing, development, operation and management of certain parcels of land located in the Philippines, including the further development of the building structure and shell of a grand casino and hotel complex into a “world-class casino, hotel, retail and entertainment complex.”

The execution of the consortium agreement is conditional upon registration of the project site as a tourism economic zone by the Philippine Economic Zone Authority, Melco said. British Virgin Islands-based MPEL Projects or an affiliated party will operate the gaming and non-gaming operations as lessee, the disclosure said.

“MPEL Projects’ total investment over the course of the project is expected to be no more than $580 million, contributed by a combination of cash, cash flow and debt financing. It is expected that a loan facility of approximately $320 million may be made available to MPEL Projects to part finance the project,” it noted.

The disclosure said the Philippine Amusement and Gaming Corp. had issued a provisional license to the consortium and intends to issue a regular casino gaming license upon satisfaction of certain conditions referred to in the provisional License. MPEL Projects shall also be included as a member-licensee of the provisional license.

Under the terms of the provisional license, Pagcor requires the consortium to make a minimum investment of $650 million at the start of commercial operations and a total of $1 billion for the entire project.

The execution of the consortium agreement is conditional upon registration of the project site as a tourism economic zone by the Philippine Economic Zone Authority.

“The company, while currently solely focused on Macau, actively evaluates future expansion opportunities throughout Asia, particularly given the region’s expected economic growth and further development of its leisure and tourism industries. Asia is widely regarded as the fastest-growing gaming region in the world, as evidenced by the size and growth of Macau’s gaming market,” Melco said.

The success of Macau as a gaming and entertainment destination , Melco noted, had led to the proliferation of gaming across the Asia Pacific region, driving the development of casino, hotel, entertainment and retail resorts, as recently illustrated in Singapore.

Melco noted that the Philippines was a popular tourist destination in Southeast Asia and closely located to a range of important tourism markets, including South Korea, Taiwan, Japan and China. In 2011, the Philippines Department of Tourism recorded 3.9 million visiting tourists. While South Koreans and Americans are the largest tourist groups, China continues to contribute a greater share of visitors to the Philippines.

“The expansion into new jurisdictions where the company expects strong returns on capital will further diversify the company’s exposure in Asia, delivering incremental sources of earnings and cash flow and providing the company with a larger platform for further expansion and opportunities to drive shareholder value,” the disclosure said.

Melco sees its experience in developing world-class integrated resorts such as the City of Dreams in Macau to allow it to take advantage of the anticipated growth in the leisure and tourism industries in the Philippines. The disclosure said the Philippine complex would “cater to an increasingly affluent and growing Asian middle class who continue to seeking new travel destinations and experiences.”

Source: http://business.inquirer.net/69435/macau-firm-to-sink-580-m-in-gambling-venture-with-sm

^^ expansion na kaagad ang iniisip nila. pagtuunan muna ng pansin ang property nila dito, puro casino pa nga lang at mga restos and malls...wala na ngang theme park at iba pang pang family eh iniisip na nila agad ang mag invest abroad...anak ng tinapay naman oh oo

^^ I think they're just talking about MPEL and Melco's expansion outside of Macau. We're lucky they decided to plunk their 1st offshore investment in the Philippines. They could've easily just picked Singapore or Malaysia and the others.

Kailangan lang talaga magka-momentum yung PAGCOR City para ma-establish na legit gaming center siya like Macau at once na manyari yon tiyak na investments will snowball even more. Siyempre hindi magpapahuli yung ibang companies kung umulan ng gambling money dito. Critical talaga yung success ng mga unang establishments na itatayo at mago-operate (like Solaire).

Yun nga lang wala pa rin attractions. Tapos yung isa diyan Condo's kaagad ang inatupag. :ohno:

my nabasa ako article sa net pag natapos daw ang belle grande magclose na daw yun casino filipino heritage...
sana my theme park din sila gawin

MORE FUN EXPANDING IN ASIA; PH vital cog of Pacific gaming hub

by Albert Castro | Malaya | Monday | 09 July 2012

The world’s largest gaming investors see the Philippines as a vital part of the Pacific gaming hub that will sustain the success of their current investments in Macau. Macau gaming firm Melco Crown Entertainment Ltd said it will invest as much as $580 million (P25 billion ) in the Sy-led casino project, Belle Grande Manila Bay at Pagcor City.

Soon a $320 million loan will be made available to the project. All the funding, however, will depend on the government’s registration of the project site as a tourism economic zone. This will provide the project additional tax breaks.

The Belle Grande project is a $1 billion gaming complex rising at the government’s Bagong Nayon Entertainment Complex in Pasay City, commonly known as Pagcor City.

Melco, led by the Ho Family and Australian James Packer , in a disclosure with the Hong Kong Stock Exchange and the NASDAQ explained that the investment in the Philippines will enable it to expand faster in Asia.

The gaming moguls see Asia as the fastest –growing gaming region in the world. Melco cited as example Macau, where the company is currently focused.

Melco said Asia’s expected economic growth and further development of its leisure and tourism industries provide big opportunities.

It sees the Philippines catering to an increasingly affluent and growing Asian middle class who will be eager to check what the gaming and entertainment complex can offer.

Melco noted that the success of the Macau gaming and entertainment industry has to the proliferation of gaming hubs across Asia Pacific. It also noted that the Philippines being a popular tourist destination in Southeast Asia is an important link to the tourism markets of South Korea, Taiwan, Japan, and China.

In 2011, the Department of Tourism recorded 3.9 million visiting tourists. While South Koreans and Americans are the largest tourist groups, China continues to contribute a greater share of visitors to the Philippines..

Meanwhile, SM Investments Corp. said it will join MCE under a new consortium to handle the complex. Melco Crown Entertainment Limited (MCE) is the owner and operator of the resort complex in Macau known as “City of Dreams”. MCE was initially formed as a joint venture of Melco International Development Limited of Hong Kong and Crown Limited of Australia, SM Investments said.

“Subject to PAGCOR requirements, Belle and MCE plan to create a $1 billion premiere integrated resort facility and enter into implementing and definitive agreements within the next two months,” it added.

Belle Corp. is an affiliate of SM Investments Corp.

Willy Ocier, Belle Corp. vice-chairman, in a message to Malaya Business Insight said the investment of the biggest Macau-gaming firm will represent about “50 percent” of EBITDA “after rentals” of the gaming complex designed to have more than 250,000 square meters of gross floor area, including approximately 20,000 square meters of gaming space with a capacity to hold 1,600 slot machines, 300-320 tables.

It will also have 6,000 sq. m. of VIP gaming areas, and six hotel towers with 1,000 rooms, divided into three brands.

Belle Grande Manila Bay forms part of a cluster of casino operations to rise in the PAGCOR City, estimated to bring in $15 billion in investment through the gaming industry.

Belle earlier committed to invest as much as $1 billion in the project which will be composed of six hotel towers, and the gaming area, initially tapping local online gaming operator Leisure and Resorts World, Corp., to be its operator.

Construction of Belle Grande began in early 2010 and is currently in full swing.

Source: http://www.malaya.com.ph/index.php/business/business-news/7988-more-fun-expanding-in-asia-ph-vital-cog-of-pacific-gaming-hub

http://i1260.photobucket.com/albums/ii564/arvin_sacro/P1050775e-1.jpg

A photo update taken from NAIA's general aviation area.

No, new pictures?

Ang ganda nito no... Tiyak Philippines will be the next big thing in Asia...:banana::banana:

maganda nga ang design nito sana ma2loy ang mga casino sa bansa natin kc maraming trabaho mabibigyan saka uunlad ang economiya natin tulad d2 sa macau hindi naghihirap mga tao kc lahat may mga trabaho saka malaki share almost 40 % ng kita ng company binibigay sa gobyerno...hopefully gumanda na iconomiya natin para dyan na rin kami magwork...

http://i1260.photobucket.com/albums/ii564/arvin_sacro/P1050775e-1.jpg

A photo update taken from NAIA's general aviation area.

the other side of that is a slum area

the other side of that is a slum area

The render Interiors of Solaire were posted in this thread:


http://www.skyscrapercity.com/showthread.php?t=1493711&page=6


They are just stunning and elegant.

I wonder what the interior of Belle Looks likes.



Does anyone has it and kindly post.


so excited to see it.:banana::banana::banana:

The render Interiors of Solaire were posted in this thread:


http://www.skyscrapercity.com/showthread.php?t=1493711&page=6


They are just stunning and elegant.

I wonder what the interior of Belle Looks likes.



Does anyone has it and kindly post.


so excited to see it.:banana::banana::banana:

:bash: do you have to do that ? we already know the photos in the Solaire thread http://msnsmileys.net/r/smileys/ROFL/Rofl_3g.gif

:bash: do you have to do that ? we already know the photos in the Solaire thread http://msnsmileys.net/r/smileys/ROFL/Rofl_3g.gif




Mr. Noypiblazer, do you have interior render photos of Belle Grande?

if you have, then post it.:ohno:

Belle records drop in H1

by Franz Jonathan G. de la Fuente | BUSINESS WORLD ONLINE | Sunday | Posted on August 05, 2012 | 10:10:48 PM

LEISURE PROPERTY developer Belle Corp. realized a double-digit profit drop in the first semester versus year-ago levels on weaker real estate revenues and higher administrative expenses, a filing with the Philippine Stock Exchange showed.

Belle, an affiliate of Sy-led SM Investments Corp., saw its January-to-June net income decline by 11.38% to P90.48 million from P102.10 million in the same period last year.

Revenues went down by 38.07% to P222.58 million versus P359.40 million, year-on year.

This comes as sales of real estate and club shares, which comprised a bulk of revenues, decreased by 43.31% to P192.12 million from P338.87 million in 2011, while administrative and general expenses rose by 23.23% to P46.85 million from P38.02 million.

Total costs and expenses declined by 21.16% to P192.71 million from P244.42 million last year, due largely to lower unit sales of real estate and club shares for the period.

For the second quarter alone, Belle saw its net income fall by 27.02% to P38.01 million from P52.08 million last year, while revenues for the period amounted to P125.63 million, a 21.22% drop from last year’s P159.46 million.

Overall costs and expenses from April to June, meanwhile, fell by 6.92% to P101.63 million versus P109.19 million in the same period last year.

Belle is currently devoting “significant resources” for the early 2013 completion of Belle Grande Manila Bay, the company’s integrated resort and gaming complex that will rise on a 6.2-hectare site within the state-run Bagong Nayong Pilipino Entertainment City.

So far, Belle already had raised around P4 billion via a stock rights issue in September last year to shoulder 13.9% of Belle Grande’s construction costs.

Philippine Amusement and Gaming Corp. has issued Belle one of the four integrated casino permits in Entertainment City. The other permits went to Travellers International Hotel Group, Inc., Bloomberry Resorts Corp., and Tiger Resorts Leisure and Entertainment, Inc.

Last month, Belle announced it has partnered with Macau-based Melco Crown Entertainment, Ltd. for the development of Belle Grande, reducing the stake and involvement of Leisure & Resorts World Corp., the company’s original partner in the project.

Further details on the partnership are expected to be hammered out by next month.

Belle, incorporated in 1973 as Belle Resources, entered the property sector with the development of the Tagaytay Highlands International Golf Club in 1989, data from its Web site show.

Since 1989, Belle said it has launched a total of 19 real estate projects, two golf clubs, and one country club, with a total gross land area of approximately 600 hectares in Tagaytay City and Batangas.

Moving forward, the company said that for 2012, it expects to reverse the drop in its net income last year to P200.52 million versus the year previous.

This will reportedly be on the back of new residential and golf course launches both in Tagaytay City and Batangas.

Belle shares were unchanged at the close of trading last Friday at P4.90 apiece from its previous close.

Source: http://www.bworldonline.com/content.php?section=Corporate&title=Belle-records-drop-in-H1&id=56285

Paano na ito? Hindi kaya mag-cause ng mahabang delay itong pag-drop ng profit nila, double-digit profit drop pa! Masyado na kasi ang competition sa real estate sa ‘Pinas.

my nasagap ako balita march 2013 nextyear summer daw start narin sila hiring process nila...hoping din nextyear mag open narin sila

:dance:

Belle-Melco deal readied

by Franz Jonathan G. de la Fuente | Business World Online | Monday | Posted on August 12, 2012 | 11:07:55 PM

CASINO DEVELOPER Belle Corp. is keen to seal next month a partnership with Melco Crown Entertainment Ltd. for the development of a gambling complex near Manila Bay.

http://www.melco-crown.com/eng/images/cod/image04.jpg
AN ILLUSTRATION shows one of the gaming rooms in Melco Crown Entertainment Ltd.’s leisure complex in Macau dubbed City of Dreams. The project sits in the same area as The Macau Studio City project, which the firm has had problems securing permits for. -- www.melco-crown.com

“Hopefully, [we will finalize the deal] by the first week of September. That’s [within] the 60-day window we’ve given ourselves,” Willy V. Ocier, Belle vice-chairman, told BusinessWorld in a chance interview.

Last month, Belle announced that it will partner with the Macau-based casino giant for the development of the Belle Grande Manila Bay integrated resort and gaming complex, thus reducing the stake and involvement of Leisure & Resorts World Corp. in the process.

Belle is currently devoting “significant resources” for the early 2013 completion of Belle Grande, which will rise on a 6.2-hectare site within the state-run Bagong Nayong Pilipino Entertainment City.

So far, Belle had already had raised around P4 billion via a stock rights issue in September last year to shoulder 13.9% of Belle Grande’s construction costs.

Philippine Amusement and Gaming Corp. had issued Belle one of the four integrated casino permits in Entertainment City.

The other casino-resort developers are Travellers International Hotel Group, Inc., Bloomberry Resorts Corp., and Tiger Resorts Leisure and Entertainment, Inc.

Tiger Resorts, for its part, is in talks with Robinsons Land Corp. for the possible management of its own casino resort complex.

Empire East Land Holdings Inc. has, meanwhile, signed a deal with Tiger Resorts to build a $1.1-billion residential development there.

Belle is determined to forge its partnership with Melco Crown despite the reported difficulties of the Macau-based firm in securing a casino permit for its latest gaming development in the Chinese territory dubbed The Macau Studio City Project.

Melco Crown, which holds one of six casino licenses in Macau, has not yet bagged the government’s go-signal to construct casino facilities housing as much as 400 gambling tables at The Macau Studio City Project, which may measure 32 hectares upon its completion.

“It does not affect us. We’re still talking. We’re still hammering it out,” Mr. Ocier said.

Belle, incorporated in 1973 as Belle Resources, entered the property sector with the development of the Tagaytay Highlands International Golf Club in 1989, its Web site showed. Since 1989, Belle has launched a total of 19 real estate projects, two golf clubs, and one country club, with a total gross land area of approximately 600 hectares in Tagaytay City and Batangas.

Moving forward, the company said that it expects to reverse the drop in its net income last year to P200.52 million in 2012, on the back of new residential and golf course launches both in Tagaytay City and Batangas.

Belle, an affiliate of Sy-led SM Investments Corp., saw its January-to-June net income decline by 11.38% to P90.48 million from P102.10 million in the same period last year.

Revenues went down by 38.07% to P222.58 million.

This comes as sales of real estate and club shares, which comprised a bulk of revenues, decreased by 43.31% to P192.12 million from P338.87 million in 2011, while total costs and expenses declined by 21.16% to P192.71 million from P244.42 million last year, due largely to lower unit sales of real estate and club shares for the period.

Belle shares stood unchanged at P4.80 apiece at the close of trading on Friday.

Source: http://www.bworldonline.com/content.php?section=Corporate&title=Belle-Melco-deal-readied&id=56680

Belle Corporation
Corporate Headquarters

5/F Tower A
Two E-Com Center
Mall of Asia Complex
CBP 1-A, Pasay 1300 Philippines
Tel. Nos.: (632) 662-8888
Fax Nos.: (632) 662-8890
hrd@bellecorp.com

Aerial pic I took yesterday. Sorry for the low quality, it's zoomed and from a cellphone.

http://www.casinosinmanila.com/wp-content/uploads/2012/08/belle.jpg

nice

http://www.macaubusiness.com/news/melco-international-eyes-manila-ipo/18321/

Melco International eyes Manila IPO

Posted: 9/5/2012 3:08:49 PM

Hong Kong-listed Melco International Development Ltd is planning a US$300 million (MOP2.4 billion) dual listing on the Manila stock exchange, our sister publication Business Daily reports.

Two sources in Hong Kong confirmed the plan to the English-language newspaper.

The proceeds are to be used in a casino resort in Manila to be developed in a joint-venture between Melco Crown Entertainment Ltd and Belle Corp, controlled by Philippine billionaire Henry Sy.................

Wonderful news.

dp

http://www.facebook.com/events/164248077013515/

Belle Diamant
http://photos.wikimapia.org/p/00/02/71/10/71_big.jpg

asya designs...

Belle, Macau firm in talks for $1-B casino complex

by Miguel R. Camus | Business Mirror | Sunday | 09 September 2012 | 17:40 PM

PARTNERSHIP talks between Belle Corp. and Macau-based Melco Crown Entertainment Ltd. for a $1-billion casino complex in Manila Bay are progressing “smoothly,” a top Belle executive said, even as a self-imposed deadline recently lapsed and Melco principals consider fund-raising options including listing in the Philippines.

Belle vice chairman Willy Ocier said he expects talks with Melco Crown to be finalized in the next few weeks, in response to a BusinessMirror query on the matter.

“The self-imposed deadline was for 60 working days, not counting the days washed out by bad weather,” Ocier clarified. “Talks are moving smoothly so we hope to finalize before October.”

Belle announced the planned tieup with Melco Crown on July 6, disclosing that it plans to enter into implementing and definitive agreements in two months, assuming it gains the approval of state-run regulator Philippine Amusement Gaming Corp. (Pagcor).

These discussions are moving alongside a possible plan by Hong Kong-listed Melco International Development Ltd., owner of 33.7 percent of Melco Crown, to hold a dual listing in Philippines. Banking sources here have confirmed an overseas report.

The plan is undergoing “very preliminary discussions,” one source said.


Read More: http://businessmirror.com.ph/home/companies/32508-belle-macau-firm-in-talks-for-1-b-casino-complex

http://www.facebook.com/events/164248077013515/



So 4th quarter of 2013 pa pala mag opening. I hope hindi na aabot sa 2014.

thanks tim7

More news

Belle Corp. confident talks with Melco will bear fruit

BY FRANZ G. DE LA FUENTE | Business World Online | Sunday | Posted on September 09, 2012 | 09:10:08 PM

CASINO DEVELOPER Belle Corp. remains confident it will finalize within the year an earlier-bared deal with regional casino giant Melco Crown Entertainment Ltd. for the development of the former’s gaming complex in Manila Bay, even as the 60-day deadline initially set for the deal’s closing had already lapsed.

“Talks are [still] ongoing,” Willy V. Ocier, Belle vice-chairman, told BusinessWorld in a text message last Friday.

“It’s still a go. It’s a bilateral agreement, so any agreement [like it] can be extended by mutual consent. The dates we have are merely targets to work with, and the 60 days is more of a target, not a hard and fast rule,” Manuel A. Gana, Belle executive vice-chairman and chief financial officer, said in a separate telephone interview last Friday.

Last July, Belle revealed that it had partnered with Melco Crown of Macau for the development of its Belle Grande Manila Bay integrated resort and gaming complex, noting that it was likely to forge a deal within a two-month period from the announcement of the joint venture on July 5.

Read More: http://www.bworldonline.com/content.php?section=Corporate&title=Belle-Corp.-confident-talks-with-Melco-will-bear-fruit&id=58164

More news

Sy-Packer-Ho casino deal still a go despite missed deadline

by Rappler.com | Monday | Posted on 09/10/2012 2:52 PM | Updated 09/10/2012 2:52 PM

MANILA, Philippines - The deal among Australian casino billionaire James Packer, Macau's Lawrence Ho, and Philippines' richest Henry Sy for a US$1-billion gaming venture in Manila is still a go despite missing the self-imposed deadline.

In a statement to the stock exchange on Monday, September 10, Belle Corp., a unit of Sy-led SM Investments Corp., confirmed that its Vice Chairman Willy N. Ocier's statement that the negotiations with Macau-based and Packer-led Melco Crown Entertainment are "progressing smoothly."

The billionaires sealed a memorandum of agreement last July 5 and said they will finalize the terms of their deal 60 days after.

Ocier was quoted as saying "the self-imposed deadly was for 60 working days, not counting the days washed out by bad weather…Talks are moving smoothly so we hope to finalize before Octoer."

Melco Crown previously said it will invest "no more than $580 million" for the development of a casino and entertainment resort within the 120-hectare Entertainment City of state-run Pagcor that will rise on a reclaimed area along Manila Bay and near the Manila airport.

Read More: http://www.rappler.com/business/business-deals/12138-sy-packer-ho-casino-deal-still-a-go-despite-missed-deadline

More news

Ho-Packer deal with Filipino tycoon to be finalized in October

by Macau Daily Times | Sunday | 11/09/2012 | 08:08:00

http://www.macaudailytimes.com.mo/thumbnail.php?file=images0-2012/06-June-July/1_melco_crown_bloom_439750449.jpg&size=article_medium

The deal between Lawrence Ho, Australian casino billionaire James Packer and Philippines' tycoon Henry Sy, for a USD1-billion gaming venture in Manila is still a go despite missing the self-imposed deadline. In a statement to the stock exchange yesterday, Belle Corp., a unit of Sy-led SM Investments Corp., confirmed that its Vice Chairman Willy N. Ocier's statement that the negotiations with Melco Crown Entertainment are "progressing smoothly."
The billionaires sealed a memorandum of agreement last July 5 and said they will finalize the terms of their deal 60 days after. 
According to Ocier, "the self-imposed deadline was for 60 working days, not counting the days washed out by bad weather…Talks are moving smoothly so we hope to finalize before October."
Melco Crown previously said it will invest "no more than USD580 million" for the development of a casino and entertainment resort within the 120-hectare Entertainment City of state-run Pagcor. The project will rise on a reclaimed area along Manila Bay and near the airport, where the government is hoping to create the Philippines’ version of the Las Vegas Strip.
Belle owns the casino license, but lacks gambling experience and has been seeking a partner to outsource services, especially the casino management.
Belle, which will remain as lessor of the land from the government, will turn over to Melco the task of continuing the constructing, fitting out and operating of Belle Grande Manila Bay in Entertainment City. MDT/Agencies

Source: http://www.macaudailytimes.com.mo/macau/38497-ho-packer-deal-with-filipino-tycoon-to-be-finalized-in-october.html

http://www.asyadesign.com.ph/sites/default/files/casino1.jpg

So 4th quarter of 2013 pa pala mag opening. I hope hindi na aabot sa 2014.

thanks tim7

sana nga dina abutin ng 2014 ilang beses ng namove yan opening...

sa mga gustong mag-apply tumatangapna daw sila ng walk-in applicant sa ecom2 moa

Kaya namomove opening nila dahil narin sa talks nila sa Melcro group.

http://www.asyadesign.com.ph/sites/default/files/casino1.jpg

^^^^^^^^

Binago na yung harapan ng Belle grande

http://www.asyadesign.com.ph/sites/default/files/casino1.jpg

no half-dome anymore ? if there isn't one anymore it's disappointing, that half-dome makes it appealing

http://media.tumblr.com/tumblr_ljlk755Hzg1qalb7h.jpg

http://www.asyadesign.com.ph/sites/default/files/casino1.jpg

Bakit only one render pics ,Reign? Wala bang renders sa interior?

Nakakabitin naman, please huwag madamot...joke:)

Hope to see the interiors:banana::banana::banana::banana::banana:

^^ here is the source (http://www.asyadesign.com.ph/projects/mixed-use-development/belle-grande-casino-resort)

the half dome is still there, but the pyramid atop the podium is missing.

^^ thanks. so they've chosen to build a park on the podium's roof instead.

http://www.asyadesign.com.ph/sites/default/files/imagecache/imagenode/casino2.jpg

I think the render shows the entrance of the L-shape hotel building at the right side of the photo.
^^ thanks. so they've chosen to build a park on the podium's roof instead.

http://www.asyadesign.com.ph/sites/default/files/imagecache/imagenode/casino2.jpg

http://www.asyadesign.com.ph/sites/default/files/casino1.jpg

no half-dome anymore ? if there isn't one anymore it's disappointing, that half-dome makes it appealing

http://media.tumblr.com/tumblr_ljlk755Hzg1qalb7h.jpg

matutuloy kaya yun LED screen sa paligid ng Bldg?

fm Aseana City FB
construction photos as of Aug.2012


http://sphotos-b.ak.fbcdn.net/hphotos-ak-ash3/564161_10151114709217530_375321696_n.jpg

http://sphotos-c.ak.fbcdn.net/hphotos-ak-ash4/603373_10151114709107530_1981878151_n.jpg

http://sphotos-d.ak.fbcdn.net/hphotos-ak-snc7/581407_10151114709462530_1208783069_n.jpg

i hope they would hire a world class casino interior design company that would rival solaire' s interior design.

and i hope the electric cables will be gone

^^ DITTO

those cables should really be hidden...

Those leaning Meralco posts... ugh. So 3rd World.

CONSTRUCTION WISE ....AS SLOW AS A SLOTH....:yawn::sleepy::sleepy::yawn::sad2::mad::rant::picard::no::yawn:

taken last august
http://i1323.photobucket.com/albums/u590/jeremyang/manila/IMG_2105_zps42a4d252.jpg

http://i1323.photobucket.com/albums/u590/jeremyang/manila/IMG_2104_zps03139fef.jpg

http://i1323.photobucket.com/albums/u590/jeremyang/manila/IMG_2103_zps584f5163.jpg

http://i1323.photobucket.com/albums/u590/jeremyang/manila/IMG_2103_zps584f5163.jpg

http://i1323.photobucket.com/albums/u590/jeremyang/manila/IMG_2101_zpsfe7f630f.jpg

http://i1323.photobucket.com/albums/u590/jeremyang/manila/IMG_2100_zpsc69508b9.jpg

http://i1323.photobucket.com/albums/u590/jeremyang/manila/IMG_2099_zpsc206d6c8.jpg

siguro tatago naman nila yun minor line of meralco...kaya siguro mabagal ang construction kasi in talks parin with melco crown casino at stanley ho..

stockholders:
http://lrwc.com.ph/
http://bellecorp.com/

Lately, there was already a call for the bidders for the interiors.

Last January pa na hold 'yong bidding sa interiors and then on-the-go na ngayon.



So it's going to be in full blast na again ang Belle Grande.


It would take 11mos to 1 year to finished all the interiors(approximately)

If then, magkatoto na ang opening that will be on the 1st Quarter of 2014 or even earlier like before December of 2013.

Lately, there was already a call for the bidders for the interiors.

Last January pa na hold 'yong bidding sa interiors and then on-the-go na ngayon.

So it's going to be in full blast na again ang Belle Grande.

It would take 11mos to 1 year to finished all the interiors(approximately)

If then, magkatoto na ang opening that will be on the 1st Quarter of 2014 or even earlier like before December of 2013.

Hopefully. I am looking forward to this.

giant gold bar resort

Sy's Belle formalizes casino deal with Melco Crown

ABS-CBNnews.com
Posted at 10/25/2012 10:13 AM | Updated as of 10/25/2012 10:13 AM


MANILA, Philippines - Henry Sy's Belle Corp. on Thursday formally signed a deal with Melco Crown Entertainment Ltd., led Australian billionaire James Packer and Macau gambling tycoon Lawrence Ho, to jointly develop a $1-billion casino resort in Manila.

Belle, whose parent company is SM Investments, and its wholly-owned subsidiary PremiumLeisure and Amusement entered into a cooperation agreement with the Hong Kong-listed Melco Crown Entertainment Ltd (MCE).

The agreement covers the joint development and operation of an integrated resort complex in Belle's property along Diosdado Macapagal Avenue, of Philippine Amusement and Gaming Corp.'s (Pagcor) Entertainment City in Paranaque.

Under the deal, Belle and MCE are co-licensees. Belle is the owner of the site's land and buildings, while MCE is the operator of all the facilities within the resort complex.

Both companies are expected to make equal investment contributions in the project.

"We are very happy to welcome MCE into the Philippines. We could not have found a better partner for this endeavor. We are confident MCE will bring its expertise in operating a highly successful integrated resort complex and strongly contribute to promoting the Philippines as one of Asia's premiere tourism destinations," Belle vice chairman Willy Ocier said, in a statement.

Melco Crown is the owner and operator of the resort complex in Macau known as “City of Dreams." Lawrence Ho is the son of Macau gaming mogul Stanley Ho.

Belle holds one of four licenses handed out by Pagcor to build a casino worth at least $1 billion each at the Entertainment City in Manila Bay, Parañaque.


:banana::banana::banana::banana::banana::banana::banana::banana:

Macau giant tapped for gaming complex

by Franz Jonathan G. de la Fuente | Business World Online | Thursday | October 25, 2012 | 11:21:52 PM

BELLE CORP. has signed an agreement with Macau-based regional casino giant Melco Crown Entertainment Ltd., handing the latter the right to operate the planned Belle Grande Manila Bay complex in Parañaque City, the local firm said in a disclosure to the Philippine Stock Exchange (PSE) yesterday.

Belle, together with wholly owned subsidiary PremiumLeisure & Amusement, Inc., inked a “cooperation agreement” with Melco Crown for the operation of Belle Grande Manila Bay, Belle’s integrated resort and gaming complex along Diosdado Macapagal Avenue within Bagong Nayong Pilipino Entertainment City near the banks of Manila Bay.

“The cooperation agreement places Belle as a co-licensee and the owner of the site’s land and buildings, while Melco Crown will be a co-licensee and operator of all the facilities within the resort complex. As a result, both Belle and Melco Crown are expected to make equal investment contributions to the project,” the disclosure read.

In a statement on its Web site, Melco Crown said its “total investment in the project… is currently expected to be approximately $600 million.”

This, it said, will be “a combination of cash, cash flow and partly funded by debt financing for approximately $325 million.”

Read More: http://www.bworldonline.com/content.php?section=Corporate&title=Macau-giant-tapped-for-gaming-complex&id=60662

More News

Belle seals deal with Macau's Melco

by Franz Jonathan G. de la Fuente | Business World Online | Thursday | October 25, 2012 | 11:21:52 PM

CASINO DEVELOPER Belle Corp. has finalized its earlier-announced partnership with regional casino giant Melco Crown Entertainment, Ltd., handing the latter firm the operating rights for the planned Belle Grande Manila Bay complex in Parañaque City, a disclosure by Belle to the Philippine Stock Exchange (PSE) showed on Thursday.

According to the disclosure, Belle, together with its wholly-owned subsidiary PremiumLeisure and Amusement, Inc., formally inked a “cooperation agreement” with Melco Crown for the development and operation of Belle Grande Manila Bay, Belle’s integrated resort and gaming complex along Diosdado Macapagal Avenue within the Bagong Nayong Pilipino Entertainment City in Manila Bay.

“The cooperation agreement places Belle as a co-licensee and the owner of the site’s land and buildings, while Melco Crown will be a co-licensee and operator of all the facilities within the resort complex. As a result, both Belle and Melco Crown are expected to make equal investment contributions to the project,” the disclosure said.

Melco Crown, a Macau-based firm, started out as a joint-venture between Melco International Development, Ltd. of Hong Kong and Crown Ltd. of Australia, which are owned by the sons of gambling tycoons Stanley Ho and Kerry Packer, respectively, according to its Web site.

Last July, Belle revealed that it has partnered with Melco Crown for the development of its Belle Grande, noting that it was likely to forge a deal within the year.

Source: http://www.bworldonline.com/content.php?section=Corporate&title=Belle-seals-deal-with-Macau's-Melco&id=60580

More News

Belle, Macau gaming company sign cooperation agreement

by Miguel R. Camus | Business Mirror | Thursday | 25 October 2012 | 18:27

BELLE Corp., which is building a $1-billion casino and hotel complex in Entertainment City Manila, has formally taken as its operating partner the Macau-based Melco Crown Entertainment Ltd. after more than three months of discussions. The deal will help move the Belle Grande Manila Bay project forward but it also noticeably leaves out Belle’s former partner Leisure and Resorts World Corp. (LRWC).

The signing of the so-called cooperation agreement was disclosed to the Philippine Stock Exchange on Thursday and is seen as a positive step for Belle, which has been facing delays in the opening of its site in the Entertainment City, which aims to be the Philippines’s version of the Las Vegas Strip in Nevada.

From the original opening at the end of 2012, Belle Vice Chairman Willy Ocier said in a text message on Thursday that the opening is now scheduled in the “first half of 2014.”

A foreign partner like Melco Crown will also lend the project added credibility when drawing the lucrative overseas high-roller market, viewed as the key to the survival of the massive gaming complex.

As for LRWC, it will no longer have any participation in the Belle Grande Manila project as far as the 50-50 partnership between Belle and Melco Crown is concerned, Belle Chief Financial Officer Manuel Gana clarified in a phone interview on Thursday.

Read More: http://businessmirror.com.ph/index.php/business/companies/1103-belle-macau-gaming-company-sign-cooperation-agreement

Damn, lumayo ang opening!

More News

Belle inks $1-B deal with Macau casino giant bannner

By Zinnia B. Dela Peña | The Philippine Star | Friday | October 26, 2012 | 12:00 AM

MANILA, Philippines - Tycoon Henry Sy’s upscale leisure estate developer and gaming firm Belle Corp. is back in the game following the formal signing of a deal with Macau casino giant Melco Crown Entertainment Ltd. to jointly build a $1 billion gaming complex on reclaimed land along Manila Bay.

In a disclosure to the Philippine Stock Exchange, Belle said its wholly-owned unit Premium Leisure and Amusement inked a cooperation agreement with Melco, owned by Australian billionaire James Packer and Macau gambling tycoon Lawrence Ho.

Under the agreement, Belle and Melco are co-licensees with the Sy-led firm owning the project’s land and buildings, while Melco will operate all the facilities within the resort complex.

Both companies are expected to make equal investment contributions to the project, located within the Philippine Amusement and Gaming Corp.’s Entertainment City.

The project will be the second complex to open in the area groomed to become the Philippines’ version of the Las Vegas strip, next to port mogul Enrique Razon’s Solaire Casino & Resort.

Read More: http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=863409

grabe ilang beses na ba namove yan hehehe nun unang plan nila sila unang magoopen baka pag kumambyo ang manila bay resorts maunahan pa sila...

pa like po sa facebook...para my update yun mga taga FB

http://www.facebook.com/pages/Belle-Grande-Manila-Bay-casino/189687143336

ok na ring na move , I hope it will be comparable man lang sana sa Manila Bay Resorts.

[QUOTE=InfinitiFX45;96732864

“It will be far bettter than Solaire. Lawrence Ho and James Packer upgraded and expanded the concepts to make sure that we are the best in Manila Bay,” Ocier said in a mobile phone message.

[/QUOTE]

ang tagal kasi ng negotiation nila ng Melcro kya na delay ng na delay yung construction and eventually yung opening, buti nalang at nagkasundo na sila sa hatian...

saw this ad for monarch parksuites yesterday, i think it features the latest render of the two projects:
https://mobile.twitter.com/FMBGJ/status/262332266162819072/photo/1

saw this ad for monarch parksuites yesterday, i think it features the latest render of the two projects:
https://mobile.twitter.com/FMBGJ/status/262332266162819072/photo/1

ganyan naman ang mga residential property ads...ginagamit nila yung Pagcor Entertainment City to sell up their units fast kahit mali mali yung images of Pagcor city. I remember another residential property arm whose selling point were the Pagcor Tower and Manila Eye (now both defunct projects)

BTW, the shot below is the Aseana Alphaland City with the marina (left photo), three photos on the right side...top photo must be the Belle Diamant (rumor), middle photo is the Belle Grande Manila, 3rd photo is the Manila Bay Resorts with the man made beach with white sand (Okada group)
http://sphotos-a.ak.fbcdn.net/hphotos-ak-prn1/r270/76218_4388586547343_26877818_n.jpg

Las Vegas less powerful in casino world after Macau boom

by ABS-CBN News (Reuters) | Saturday | Posted at 10/27/2012 8:53 AM | Updated as of 10/27/2012 8:53 AM

For Nevada gaming companies grappling with a weak economy and a splintering market at home, the Asian casino boom has been a godsend. But it has left the Nevada Gaming Control Board facing difficult questions about how to confront the influence of Asian organized crime, both overseas and inside the state.

With no full-time staff in Asia and a mission that includes nurturing an industry increasingly dependent on China-controlled Macau, the granddaddy of U.S. gambling regulators may ultimately prove powerless to police a global business of which Las Vegas is no longer the capital, industry veterans said.

Though the Control Board can levy fines, ban employees and even revoke corporate licenses to operate gambling facilities in Las Vegas for misdeeds abroad, it has done little in the face of mounting evidence that Las Vegas Sands, Wynn Resorts and MGM Resorts International are relying on problematic business partners in Macau - and importing some of the region's crime issues to the United States.

http://cdnimages.abs-cbnnews.com/wires/reuters/20121027_mock-casino.jpg
A student practices at a mock casino run by the Macao Polytechnic Institute in Macau October 11, 2012. / REUTERS

At the heart of both matters are the so-called junket operators, who recruit, transport and offer credit to high rollers, mostly from China. Some control rooms for the VIPs inside the Macau casinos, and many have links to the Chinese criminal gangs known as triads, according to U.S. diplomats, intelligence officials and court testimony.

Nevada has allowed three people with ties to one Hong Kong junket company - which Hong Kong Stock Exchange documents show was partly financed by an alleged triad leader - to bring gamblers to Las Vegas casinos on commission. Those people, named in individual Nevada records, include the chairman of the company, Neptune Group Ltd.

Though such Asian recruiters are increasingly important to the casinos looking to lure Chinese big spenders, Nevada investigators privately concede that they are having a hard time establishing which of them have criminal connections. The casinos say all their business partners are approved by Macau or Nevada and that they eschew deals with proven criminals.

In one sign of mounting concern at home, Nevada Gaming Control Board member A.G. Burnett told Reuters that the panel is "exploring reinventing the whole junket representative process" because of concerns about its lack of transparency.

Read More: http://www.abs-cbnnews.com/business/10/27/12/las-vegas-less-powerful-casino-world-after-macau-boom

LRWC commits to invest P4 billion in casino project

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=864444

MANILA, Philippines - Leisure & Resorts World Corp. (LRWC) reiterated that it is still part of a $1-billion casino and hotel complex along Roxas Boulevard, saying it has committed to invest about P4 billion in the project alongside Belle Corp. and Macau casino operator Melco Crown Entertainment Ltd.

LRWC cited the memorandum of agreement it signed with Belle on July 5, 2012, which states the former would provide funding to the Sy-led company equivalent to 30 percent of Belle’s interest in the project or an estimated P4 billion.

LRWC earlier raised more than P3 billion, of which P2 billion came from a bank loan and P1.125 billion came from a private placement of shares.

In exchange for its contribution, LRWC wholly-owned unit AB Leisure Global Inc. shall be entitled to 30 percent of the fixed yearly income generated from the leasing of all commercial space in the project, inclusive of the hotel, retail and casino premises.

Aside from this, AB Leisure shall be paid fees equivalent to a 30 percent of Belle’s 50-percent share of the EBITDA (earnings before interest, taxes, depreciation and amortization) from casino operations or 30 percent of Belle’s 15 percent share of the net win, whichever is higher, after deducting Belle’s royalty which is based on gross win.

The project was originally a partnership between Belle and LRWC. Controlled by the family of Negros Occidental third district Rep. Albee Benitez, LRWC was supposed to manage the casino and split EBITDA evenly with Belle for a 10-year period.

Belle finished most of the casino structure in January but completion of its interior has been delayed due to limited funding. This has led to LRWC relinquishing its right to operate the casino to make way for the entry of regional casino giant Melco, a joint venture between Macau gaming mogul Stanley Ho and Australian billionaire James Packer.

Analysts said the casino project, once operational, will become a major driver of growth for LRWC, which operates bingo and other interactives games in the Cagayan Economic Zone Authority.


The project will form part of a huge gambling development dubbed Entertainment City, which the government hopes will turn the Philippines into the world’s number two gaming destination ahead of Las Vegas and Singapore.

LWRC still part of Belle Grande gaming complex
By Doris C. Dumlao | Philippine Daily Inquirer | Monday | October 29th, 2012 | 9:40 am

http://1-ps.googleusercontent.com/h/business.inquirer.net/files/2012/07/300x225xe-city-300x225.jpg.pagespeed.ic.2nzX6YlCM9.jpg
Entertainment City. PHOTO FROM PAGCOR.PH

MANILA, Philippines – Gaming firm Leisure & Resorts World Corp. (LWRC) will remain part of the $1-billion Belle Grande project that will rise in front of Pagcor Entairtainment City by next year, the company said.

In a press statement late Sunday, LWRC said it would contribute P4 billion to the project and get a share of Belle’s earnings from the leasing of commercial space as well as a piece of casino earnings.

Although not a party to the Belle Corp.-Melco Crown Entertainment Ltd. gaming deal finalized last week, LWRC will get a share of Belle’s economic interest in the project. In its statement, LWRC said had signed last July 5 along with its wholly-owned subsidiary AB Leisure Global Inc. (ABLGI) an amended memorandum of agreement with Belle and Premium Leisure and Amusement Inc. (PLAI).

“In exchange for the ABLGI’s contribution, ABLGI shall be entitled to 30 percent of the fixed yearly income generated from the leasing of all commercial space in the project, inclusive of the hotel, retail and casino premises,” LWRC said.

“Moreover, ABLGI shall be paid fees equivalent to a 30 percent of PLAI’s 50 percent share of the EBITDA (earnings before interest, taxes, depreciation and amortization) from casino operations or 30 percent of PLAI’s 15 percent share of the net win, whichever is higher, after deducting PLAI’s royalty which is based on gross win,” the statement said.

Overall, this stake will be equivalent to an estimated overall economic interest of 6 percent in the project and a net interest of 44 percent for Belle, said Cora Guidote, investor relations officer at SM Investments Corp. which holds the controlling interest in Belle.

Under the old arrangement when Melco was not yet part of the consortium, LWRC was to get 15 percent of net winnings, or 50 percent of the casino’s cash flow, whichever is higher.

LWRC and its operators originally were supposed to lease the premises from Belle.

LWRC said it, along with ABLGI, agreed to amend their previous agreements because of the changes in the development guidelines issued by the Philippine Amusement and Gaming Corp. on July 18, 2011 which effectively and materially changed the terms and conditions of the provisional license granted to the SM consortium in December 2008. For instance, Pagcor issued a requirement that an 800-room hotel portfolio must be up and running before the casino itself can start operations, requiring the front-loading of greater capital outlays.

For its part, ABLGI’s estimated contribution of P4 billion to the project will be funded through debt and internally generated income, LWRC said. The company added this contribution would account for 30 percent of Belle’s share in the project.

Melco is a developer and owner of integrated resort facilities focused on the Macau market. Its “City of Dreams” complex is a highly successful project that houses a gaming facility, a Crown Hotel, a Grand Hyatt Hotel, a Hard Rock Hotel and an upscale retail operation, along with a mix of bars and restaurants that are drawing crowds mainly from Hong Kong and China. This complex is also known for “The House of Dancing Water” show.

The Macau casino group – which is co-owned by Lawrence Ho Yau Lung, son of casino mogul Stanley Ho Hung Sun and Australian billionaire James Packer – is building is second integrated resort in Macau called “Studio City".

Source: http://business.inquirer.net/89940/lwrc-still-part-of-belle-grande-gaming-complex

Team Belle or team Solaire? Which is better?

AB Leisure invests P4B for casino
by MADELAINE B. MIRAFLOR | Manila Times | Wednesday | 31 October 2012

AB Leisure Global Inc. (ABLGI), a wholly owned subsidiary of Leisure & Resorts World Corp. (LRWC), is set to provide P4 billion for the construction of LRWC’s Belle casino project in Entertainment City, which has a project value of $1 billion.

“ABLGI will provide funding to Belle for the Casino Project equivalent to 30 percent of Belle’s interest, or an estimated P4 billion which will be funded through debt and internally generated income,” a memorandum of agreement on the matter said.

ABLGI, in exchange for its contribution, will be entitled to 30 percent of the fixed yearly income generated from the leasing of all commercial spaces in the project, inclusive of the hotel, retail and casino premises.

The company will also be paid fees equivalent to “30 percent of Premium Leisure and Amusement Inc.’s [PLAI], another wholly owned subsidiary of LRWC, 50 percent share from casino operations or 30 percent of PLAI’s 15 percent share of the net win, whichever is higher, after deducting PLAI’s royalty which is based on gross win.”

“ABLGI and LRWC have agreed to amend their previous agreements because of the changes in the development guidelines issued by the Pagcor on July 18, 2011, which effectively and materially changed the terms and conditions of the Provisional License granted to the SM Consortium in December 2008,” a company statement said. Pagcor is the Philippine Amusement and Gaming Corp.

Read More: http://www.manilatimes.net/index.php/business/top-business-news/34342-ab-leisure-invests-p4b-for-casino

More News

Leisure & Resorts still on-board Manila casino
by Macau Business | Tuesday | Posted: 10/30/2012 2:07:31 PM

Manila-listed Leisure & Resorts World Corp plans to pay PHP4 billion (US$97.1 million) to maintain an equity stake in the Belle Grande Manila Bay casino project in the Philippines, our sister publication Business Daily reports quoting sources.

The money will be used towards Belle’s casino resort construction costs. In return, Leisure & Resorts World will get a share of Belle’s stake in the casino resort.

There were doubts over whether Leisure & Resorts World would continue to be involved in the project after Melco Crown Entertainment Ltd confirmed last week it had inked an agreement with Philippine property developer Belle Corp to develop and operate the casino resort complex.

Leisure & Resorts World had previously signed a memorandum of agreement with Belle Corp to manage the gaming operations at the casino resort.

Melco Crown’s announcement didn’t mention Leisure & Resorts World, and referred to Melco Crown as “the sole and exclusive representative of the licensees in connection with the casino license and the operation and management of the project”.

Source: http://www.macaubusiness.com/news/leisure-resorts-world-corp-still-on-board-manila-casino/19412/

Ang liliit ng investments. Dati minimum of $1 billion, ngayon in pesos na. Ni hindi umaabot ng 10 billion pesos man lang.

Ang liliit ng investments. Dati minimum of $1 billion, ngayon in pesos na. Ni hindi umaabot ng 10 billion pesos man lang.

$1Billion pa din naman. Pakibasa ulit yung article :lol:

GG

I passed by Belle Grande last Saturday night, I noticed they were lighting every room or something? basta lahat ng floors and rooms may light. Is that the final light for the interiors? kasi if it is, mukhang di masyadong maganda.

I passed by Belle Grande last Saturday night, I noticed they were lighting every room or something? basta lahat ng floors and rooms may light. Is that the final light for the interiors? kasi if it is, mukhang di masyadong maganda.

At parang nawawala ang pagiging gold nya pag may ilaw na.

At parang nawawala ang pagiging gold nya pag may ilaw na.

Correct! Parang naging office building. lol :nuts::ohno::nuts::ohno::nuts:

Sa totoo lang, parang ang pangit naman kasi ng all gold. tas parang walang ka design design, GOLD BOX lang that's it.

^^ Golden Shoe Boxes :lol:

Ginawa man lang sanang parang Wynn ang shape. Box kung box talaga ang SM.

Ginawa man lang sanang parang Wynn ang shape. Box kung box talaga ang SM.

Gold naman.

It's alright. We know that SM proliferated boxy malls and buildings in various areas, so we are now used to it. (Although recently, they've started reinventing their malls not to be left behind by others with classier designs.) They should have erected the SM Coin instead of these glowing boxes.

tuloy pa ba 'yong egg shaped structure or pyramid?

Yon na lang ang makapagpaganda siguro.