Premium Leisure Corp. targets equity stake in Melco Philippines

Philippine-listed casino investor Premium Leisure Corp. (PLC) is eyeing to have a stake in the ownership of Melco Resorts and Entertainment Philippines (Melco Philippines), operator of City of Dreams Manila.

In a disclosure to the Philippine Stock Exchange on Friday, Melco Philippines reported that there are discussions for PLC to become an equity holder of Melco Resorts and Entertainment Ltd.’s Philippine unit.

PLC, through its unit Premium Leisure and Amusement, Inc. (PLAI), is a co-licensee of City of Dreams Manila, one of the integrated resorts within the Philippine Amusement and Gaming Corporation’s Entertainment City.

In a statement, Melco mentioned “a potential transaction whereby PLC or its affiliated entities may become equity holders” of the casino operator, noting “certain affiliated entities of PLC are currently parties to an operating agreement with Melco” in the Philippines.

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