Philippines-based casino operator Bloomberry Resorts Corp, who operates the Solaire-branded casino resorts, confirmed it is in the final stages of acquiring land for a new casino project in Paniman, Ternate, Cavite, about 66 kilometers southwest of Metro Manila. The development marks the company’s third Solaire property and is expected to open within the next five to ten years.
“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,” Bloomberry said in a filing on Wednesday.
The announcement followed remarks from Alejandro Tengco, chairman of the Philippine Amusement and Gaming Corp (Pagcor), who suggested that the new casino, Solaire Puerto Azul, could open as early as 2028. This would be Bloomberry’s third casino project, after its flagship Solaire Resort & Casino in Parañaque and the recently opened Solaire Resort North in Quezon City.
Solaire Resort North, a $1 billion gaming complex, launched its VIP operations earlier this month, with a ceremony held on September 8. The venue features exclusive VIP gaming on its 36th and 37th floors.
Bloomberry chairman and CEO Enrique Razon has emphasized the company’s focus on ramping up operations at Solaire Resort North before launching new projects. “Once Solaire North is fully ramped up, and both properties are generating a certain expectation that we have on cash flow… then we will probably launch the Paniman project,” Razon said earlier this year.
Original article: https://www.yogonet.com/international/news/2024/09/13/78470-bloomberry-confirms-plans-for-new-solairebranded-casino-in-cavite-philippines
