We write with respect to the news article posted in various sites on July 18, 2024. In the attached article entitled “SMIC plans casino-resort north of Manila, sources say” posted in BusinessWorld (online edition), it was reported in part that:
“THE PHILIPPINES’ most valuable company, SM Investments Corp. (SMIC), is planning to invest at least $300 million in an integrated casino and resort north of Manila, two sources with knowledge of the matter said on Wednesday.
Premium Leisure, a unit of SM’s Belle Corp. unit, has applied for a license to build and operate a casino and resort in Clark, a former US military air base turned into a leisure and business hub, in Pampanga province, the sources said.
‘Aside from the casino, there will be a convention center and a hotel,’ one of the sources told Reuters.
. . . .”
_____________
This is to confirm that the gaming-focused investment companies of Premium Leisure Corp., Belle's subsidiary, has applied for a gaming license from government regulators. However, as information on potential investments, much less plans, of any specific project, specifically within Clark City in Central Luzon, are still too preliminary at this point, especially considering that the application for license has yet to be acted on, we are still in no position to make any confirmation thereon. We will, of course, make the appropriate disclosures once investment decisions have been made firm. |