Singapore’s Temasek buys stake in Philippine casino

Belle GrandeSingapore’s state investment fund Temasek Holdings said in a filing to the Securities and Exchange Commission earlier in June that it has acquired a 5.02 per cent stake in Melco Crown (Philippines) Resorts Corp., a subsidiary of Macao-based Melco Crown Entertainment Ltd. which is currently developing  the $1-billion Belle Grande Manila Bay resort-casino.

Temasek said the acquisition was undertaken through its units Temasek Fullerton Alpha Pte. Ltd., Swordfish Investments Pte. Ltd. and Fullerton Fund Management Co.

Belle Grande, which will rise on a 6.2-hectare site in a state-run Entertainment City complex in Manila, is scheduled to be completed by mid-2014. The complex is expected to have over 250,000 square meters of gross floor area, including 17,000 square meters of gaming space and 20,000 square meters of retail and restaurant facilities. It will also have 920 hotel rooms.

Singapore's state investment fund Temasek Holdings said in a filing to the Securities and Exchange Commission earlier in June that it has acquired a 5.02 per cent stake in Melco Crown (Philippines) Resorts Corp., a subsidiary of Macao-based Melco Crown Entertainment Ltd. which is currently developing  the $1-billion Belle Grande Manila Bay resort-casino. Temasek said the acquisition was undertaken through its units Temasek Fullerton Alpha Pte. Ltd., Swordfish Investments Pte. Ltd. and Fullerton Fund Management Co. Belle Grande, which will rise on a 6.2-hectare site in a state-run Entertainment City complex in Manila, is scheduled to be completed by mid-2014. The...

Belle GrandeSingapore’s state investment fund Temasek Holdings said in a filing to the Securities and Exchange Commission earlier in June that it has acquired a 5.02 per cent stake in Melco Crown (Philippines) Resorts Corp., a subsidiary of Macao-based Melco Crown Entertainment Ltd. which is currently developing  the $1-billion Belle Grande Manila Bay resort-casino.

Temasek said the acquisition was undertaken through its units Temasek Fullerton Alpha Pte. Ltd., Swordfish Investments Pte. Ltd. and Fullerton Fund Management Co.

Belle Grande, which will rise on a 6.2-hectare site in a state-run Entertainment City complex in Manila, is scheduled to be completed by mid-2014. The complex is expected to have over 250,000 square meters of gross floor area, including 17,000 square meters of gaming space and 20,000 square meters of retail and restaurant facilities. It will also have 920 hotel rooms.

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