Melco Crown in talks to invest in Manila casino

Hong Kong businessman Lawrence Lo and Australian billionaire James Packer are looking at a potential $1b investment.

A Bloomberg report quoted Cristino Naguiat, chairman of the Philippine Amusement & Gaming Corp., as saying, “I think they’re serious,” when he talked about Melco Crown Entertainment and their ongoing discussions.

The report said, “Four companies won licenses in 1998 to operate casinos in a gambling and entertainment complex the government plans to build in Manila,” with each Philippine licensee agreeing to invest $1 billion over five years.

View the report here.