Belle Takes in MCE for its Integrated Resort Project
(05 July 2012, Pasay City, Philippines) It has been announced that Belle Corporation (Belle),one of the affiliates of SM Investments Corp, together with Belle’s 100%-owned subsidiary, Premium Leisure and Amusement, Inc. (PLAI), signed on 05 July 2012, 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. 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.
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.
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For further information, please contact:
Ms. Corazon P. Guidote
Senior Vice President for Investor Relations
SM Investments Corporation
Date: Thursday, July 5, 2012