It is owned by Melco Resorts and Entertainment (Philippines) Corporation, a Philippine subsidiary of Melco Resorts & Entertainment Limited (NASDAQ: "MLCO"), the parent company of Melco Resorts Leisure (PHP) Corporation that together with SM Investments Corporation, Belle Corporation and Premium Leisure Amusement, Inc. developed the integrated resort. Melco Resorts Leisure (PHP) Corporation manages and operates City of Dreams Manila. The US$1.3 billion resort complex had its soft opening on December 14, 2014 and its grand opening on February 2, 2015 with live performances from local and international acts such as Gary Valenciano, Zsa Zsa Padilla, Ne-Yo and Kelly Rowland dubbed as the "Concert of Dreams" to mark its grand launch. City of Dreams Manila is a sister resort to City of Dreams in Macau. It is the second of four billion dollar casinos to rise in Manila's gaming strip after Solaire Resort & Casino which opened in March 2013.
The resort consists of six hotel towers with 938 rooms, which includes a Nobu Hotel, Nuwa (formerly Crown Towers) and a Hyatt Regency Hotel (rebranded from Hyatt). It has 289 gaming tables, 1,620 slot machines and 176 electronic table games. A feature of the casino resort is the dome-like structure called Fortune Egg. City of Dreams features a 60,000–80,000 sq.m. shopping strip called The Shops at The Boulevard, where K-Golf, an indoor golf simulator is also located. A theme park is also located within the property called DreamPlay built in collaboration with DreamWorks Animation.
A new entertainment area, The Garage features local and international restaurants along with a VR Zone Arcade, a partnership with Bandai Namco Amusement.