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Philippines

Casinos

Macau casino operator Melco Crown Entertainment and Philippine property developer Belle Corp have signed a “memorandum of agreement” to develop a $1 billion casino resort in Manila.

Under the agreement, Melco, owned by Australian billionaire James Packer and Hong Kong businessman Lawrence Ho, and Belle, owned by the Philippines’ richest man Henry Sy, will jointly develop and manage the 100-hectare casino resort in Manila’s gaming hub at Aseana Boulevard in Parañaque City, according to Reuters.

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