September 12, 2024 | 12:00am
MANILA, Philippines — Bloomberry Resorts Corp. of tycoon Enrique Razon Jr. has commenced preparations for its third Solaire casino resort in the country to be opened in the next five to 10 years.
In a stock exchange filing, Bloomberry said it is currently in the process of completing the land acquisition for the project in the Paniman area in Ternate, Cavite.
Bloomberry said the masterplan for the integrated resort project is also still being developed.
“While the timeline has not been finalized, the Paniman development is definitely a project that the company is keen to develop and open in the next five to 10 years,” the company said.
In early 2023, Bloomberry disclosed that it signed an agreement with a group of land sellers in Cavite to acquire a property to develop the casino resort.
The Paniman property is targeted to be developed into an integrated resort and entertainment complex with a world class casino, hotel, golf course, commercial, residential and mixed-use component.
Bloomberry earlier said the development of the Paniman project is expected to start after the start of the commercial operations of Solaire Resort North in Quezon City.
The $1-billion Solaire Resort North held its grand opening on May 25, becoming the first and only five-star integrated resort serving northern Metro Manila and adjacent provinces.
The Paniman projects will be Razon’s third casino after Solaire Resort Entertainment City in Parañaque and the recently opened $1-billion integrated resort in Quezon City.
Abroad, it has the Jeju Sun Hotel & Casino in Korea.
Solaire Resort Entertainment City, the first integrated destination resort on an 8.3-hectare site in Manila’s Entertainment City, features 793 luxurious resort-style accommodations in two distinctive towers.
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