Philippines-listed Sinophil Corp is changing its name to Premium Leisure Corp, the company said in a filing. The move is part of an ongoing realignment of assets by parent company Bell Corp, a partner at the $1.26 billion City of Dreams Manila casino resort in the Philippine capital.
The changes will be made official after being voted on at the Sinophil’s regular shareholders’ meeting scheduled for July 18.
Earlier this month, Bell announced in a filing with the Manila Stock Exchange that it would reorganize its gaming assets under Sinophil. That includes investing in Sinophil a 100% stake in Bell’s premium Leisure and Amnesty Inc and a 34.5% stake in Pacific Online Systems Inc, an online lottery system company. 안전한 파워볼사이트
Premium Leisure and Amuse is part of a consortium that holds a gaming license for casino resort city of dreams Manila. Another partner is Melco Crown (Philippines) Resorts Corporation, a subsidiary of Macau-based Melco Crown Entertainment.
Mr. Bell said the casino resort currently receives allocations for 365 game tables, 1,680 slot machines, and 1,680 electronic table games from Philippine regulators and licensee Pagcor. The property will open in Manila’s Entertainment City in October next year. It will be operated by the Philippine Melco Crown.
Belle’s wealth reorganization is expected to be completed in August or around August this year.
Bell is controlled by the SM group led by Henry Sai, patriarch of the richest family in the Philippines.
