City of Dreams Manila to see significant growth says Ocier

Philippine-based City of Dreams Manila is expecting significant growth this year as it reaps the benefits of gaming promotions and full year operations, says Willy Ocier.

In an interview with The Philippine Star, the Belle Corp. vice chairman said prospects for the gaming sector in 2016 are positive. “I think we will be achieving very, very good growth. I’m not sure of the percentage but it will be a big jump (this year) because we are now fully open,” said Ocier.

Ocier also said the property has been able to control costs as a result of Melco Crown’s management performance. “Management has gotten their feet wet already. They know the business. So we’re very optimistic. Volume is ramping up. We’re not trying to catch up with Solaire,” he said.

According to Melco Crown Philippines, casino revenues in 16Q1 increased 108 percent to P4.05 billion from P1.95 billion in 2015. “The increase in total net operating revenues was primarily due to the ramp up of resort operations since the opening in December 2014,” it said in a filing.