Billionaire Enrique Razon’s Bloomberry Resorts Corp., the operator of Solaire Resort and Casino, said Wednesday it plans to develop and open a hotel and casino project in Cavite province over the next five to 10 years.
Bloomberry said in a disclosure to the stock exchange it was in the process of completing the land acquisition in Paniman, Ternate, Cavite and developing masterplan for the project.
“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 ten years,” Bloomberry said.
It did not provide other details, including the capital investment required for the project and features of the hotel and casino.
Bloomberry reported in 2022 it would pay about P7.5 billion to acquire 279 hectares of land in Ternate, Cavite to build a mixed-use tourism resort with casinos, residences and a golf course.
It also studied plans to invest in casino projects of businessman Dennis Uy in Cebu and Pampanga. Talks between the two parties fell through in 2023.
Bloomberry opened its second casino and hotel, the $1-billion Solaire North in a 1.5-hectare property in Quezon City in May.
Solaire Resort North has 526 guest rooms and suites, 2,669 electronic gaming machines and 163 tables across four casino levels. It also houses various signature restaurants including Italian cuisine at Finestra Italian Steakhouse, Japanese delicacies at Yakumi and Chinese fare at Red Lantern.
The share price of Bloomberry rose 3.51 percent Wednesday to close at P7.97.
Be the first to comment