City of Dreams Manila prepares reopening

Integrated resorts and casino City of Dreams Manila is preparing to reopen its gaming facility with a 30-percent capacity this month.

Shareholder Melco International Development Ltd. said Monday in a disclosure to the Hong Kong Stock Exchange the Philippine Amusement and Gaming Corp. allowed licensed casino operators in areas covered by the so-called general community quarantine to resume limited operations.

“On 24 August 2020, the Philippine government allowed PAGCOR-licensed casinos in areas covered by the general community quarantine to operate at 30-percent operational capacity,” Melco International said.

“City of Dreams Manila is preparing for the resumption of its normal operations in accordance with the terms and conditions of this new guideline,” it said.

City of Dreams Manila and other PAGCOR-licensed casino operators suspended their operations after the government placed Metro Manila and other parts of the country under enhanced community quarantine in mid-March to prevent the spread of the coronavirus pandemic.

City of Dreams Manila said in July it was allowed by PAGCOR to undertake a dry run/trial run of its gaming and hospitality operations for a limited period and with only a limited number of participants strictly adhering to the new guidelines on social distancing, hygiene and sanitation procedures imposed by the government.

City of Dreams Manila said total operating revenues amounted to $7.2 million in the second quarter, a steep 95-percent drop from $176.1 million recorded in the same period last year.

Revenues from mass market table games decreased to $7.5 million in the second quarter of 2020 from $192.8 million in the second quarter of 2019. Revenues from gaming machines also declined to $30.4 million from $945.1 million a year ago.

Total non-gaming revenues fell to $1.4 million in the second quarter from $31.8 million a year earlier.

City of Dreams Manila is one of the four licensed gaming firms allowed to operate within Pagcor Entertainment City in Parañaque.

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Article originally posted by Manila Standard last August 31, 2020 8:05pm and written by Jenniffer B. Austria.