Belle Corp talks with multiple operators to expand Clark casino
Belle Corp has confirmed it is in active discussions with a number of potential operators for a planned casino resort in Clark, as it looks to expand beyond its existing footprint in Manila.
In a filing to the Philippine Stock Exchange, the company said talks were ongoing with several operators following the permit of a provisional licence for an integrated resort project in the Clark Special Economic Zone. The development, which is expected to involve an investment of at least $300 million, would mark a major step in Belle’s push into what it sees as an emerging gaming and tourism hub.
The licence was issued by the Philippine Amusement and Gaming Corp (PAGCOR), the country’s gaming regulator, to Belle’s operating units, including Sinophil Leisure and Resorts Corp and Foundation Capital Resources Inc, both under its subsidiary Premium Leisure Corp.
The approval allows the group to move ahead with plans to develop and operate a new casino resort, although key details remain dependent on securing an operating partner.
Talks with multiple operators
Reports over the weekend stress that Belle had talks with three to four international casino operators, including Melco Resorts & Entertainment, its long-time partner in City of Dreams Manila. The company itself has not named any of the parties involved, but confirmed that discussions are ongoing and said more details will be shared once agreements are in place.
Clark, about a two-hour drive north of Manila, is gaining attention as a growing centre for tourism and entertainment. With improving infrastructure and easy access to the capital, it has become an appealing location for large-scale developments. Much of this interest is tied to MICE (meetings, incentives, conferences and exhibitions) tourism, a segment seen as a key driver of future growth in the area.
Belle said it views Clark as both a developing MICE destination and a potential gaming hub within the region. The company is also seeking regulatory approval to include both itself and Premium Leisure as co-licensees on the project, a request that remains under review.
A co-licencing model likely
According to comments attributed to its chief executive, Armin Antonio Raquel-Santos, the development is expected to follow a co-licencing model. Under such an arrangement, a selected operator would manage the gaming component of the resort, while Belle would retain control of the land and lease it out, alongside sharing in gaming revenues.
The final design and scope of the resort are likely to depend on the eventual partner. Belle indicated that a revised development plan will be submitted once an operator is confirmed, combining partner’s requirements and specifications.
The company is targeting a launch within two to three years of an operator being formally engaged, suggesting that construction timelines will be closely tied to the outcome of the current negotiations.
Belle’s move comes as it continues to benefit from its existing interests in Manila. In the first quarter of 2026, its share of gaming revenue from City of Dreams Manila rose by 12.3 per cent year-on-year to PHP 485.7 million ($8.0 million). Whether the deal will be finalised or not will depend largely on execution and partner selection. But, for now, the project remains at an early stage.
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