Melco Resorts & Entertainment is exploring new possibilities for its City of Dreams Manila property, according to a company announcement.
Melco Resorts & Entertainment is exploring new possibilities for its City of Dreams Manila property, according to a company announcement released on February 27, 2025.
The casino operator has hired CBRE Capital Advisors and Moelis & Company as financial advisors to help evaluate different options for the Manila resort.
"Melco has retained CBRE Capital Advisors, Inc. and Moelis & Company LLC as financial advisors to assist in the process of exploring potential strategic alternatives for City of Dreams Manila," the company stated in its announcement.
Will Selling ‘City of Dreams’ Manila Be The Option?
Melco Resorts Leisure, a Melco subsidiary, currently runs City of Dreams Manila through an operating agreement with PremiumLeisure and Amusement, Inc. and other Melco subsidiaries.
Analysts earlier suggested for Melco to sell the City of Dreams property if it was pursuing its plans to build an entertainment complex in Thailand.
“Outside Macau, the Philippines (City of Dreams Manila) continues to generate cash but lacks real growth dynamics due to increasing Manila competition, while Cyprus has been a disappointment partly due [the conflicts in] Russia and Israel,” analyst Vitaly Umansky said in a late January note.
No Decision For City of Dreams Property Yet
While options to sell the property, find a partner, or change its ownership setup have been floated, the company says no decision has been made for the future of these properties.
"There is no guarantee this will lead to any deal," Melco stated, adding that updates will be given only if needed.
What are Melco’s Financial Results For 2024?
This announcement comes as Melco reports mixed financial results. The company posted a PHP2.42 billion (USD 43.5 million) profit in 2024, recovering from a PHP18.9 billion (USD 326.9 million) loss in 2023. However, its fourth-quarter earnings declined despite revenue growth.
The review hints that Melco is rethinking its investments in Asia and Europe to boost profits. Industry watchers are looking at Melco’s future plans, as City of Dreams Manila remains a major player in Philippine gaming.
Read related article: Casino of City of Dreams Sri Lanka to Open in Q3 2025
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