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Melco Crown Philippines Reports Successful Earnings for 2016

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Melco Crown Philippines is a roaring success, despite the drama surrounding Crown Resorts in the last year. The project, a brain child of James Packer and Lawrence Yau Lung Ho, began in 2016 amidst troubles in other markets. Packer, involved with Mariah Carey at the time, was concerned about the outcome of the location in Manila.

Melco Crown Philippines - Australia

Packer sells off Melco Crown Philippines Stake

Part of the fall of Packer’s international ventures came about in the Macau casino. Due to China’s anti-corruption initiative, 18 Melco Crown employees were detained in October 2016. The government has been reforming the Macau casino industry to try and stop gambling crimes. However, this would be the beginning of the end for Crown Resorts’ plans to expand their chain.

Packer and other Crown Resorts executives decided to focus on their domestic operations. This included selling their stake in the City of Dreams Macau resort. Plans for a Barangaroo resort are still in talks with the Australian government. However, plans for a Las Vegas location have officially ended, as Crown Resorts have sold off their property on the high-status Vegas strip.

The Chinese government, while having good intentions, seems to have driven gamblers out of Macau. In January and February of 2017, 25% more tourists visited the Melco Crown Philippines than previous years. More so, the success of the Philippines’ casino resort is expected to rise further. After all, Manila is an excellent destination for Chinese and Kiwi gamblers looking for a great experience.