Melco Resorts & Entertainment has ended its review of strategic alternatives and will not sell its 50% stake in City of Dreams Manila, chief executive Lawrence Ho said. The company said it may reassess the position in future; Manila’s gross gaming revenue at the resort fell 26% in the December quarter of 2025.
Melco’s decision keeps its existing ownership of the Manila resort in place and closes the current sale process.
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City of Dreams Manila management is considering entering online gaming in the Philippines, citing Seaport Research Partners. The brokerage based its assessment on discussions with Melco Resorts & Entertainment management at the 2026 Seaport Annual Summer Conference.
Entertainment City integrated resorts in Metro Manila generated more than PHP37.47 billion in gross gaming revenue in the three months to 31 March 2026, according to PAGCOR data. The total fell 11.1% year on year, while electronic gaming revenue across the Philippines declined 22.4% to PHP39.90 billion.
Belle said gaming income from its share of City of Dreams Manila reached PHP485.7 million in the three months to 31 March 2026, up 12.3% year on year. The company also reported PHP588 million in leasing income, unchanged year on year, and total revenue of nearly PHP1.42 billion.
Belle Corp reported revenue of Php1.42 billion for the three months to 31 March 2026, up 9% year on year, in a filing with the Philippine Stock Exchange. Its share of gaming revenue from City of Dreams Manila rose 12% to Php486 million, while land and building lease revenue remained at Php588 million.
CreditSights maintained its tactical outperform recommendation on Wynn Macau’s US-dollar bonds despite weaker third-quarter earnings. It cited leverage of 5.3 times gross and 4.3 times net as of September, and expected higher capital expenditure in financial year 2027 to weigh on cash flow.
Wynn Macau Ltd's U.S. dollar bonds remain a tactical outperform recommendation at CreditSights Inc, even after weaker third-quarter earnings and with capital spending expected to rise in 2027. The analysts said the anticipated capital spending pressure in financial year 2027 was a key reason for the tactical qualification.