Bloomberry Resorts & Entertainment has pushed back the planned opening of its integrated resort in Quezon city to 2023 due to construction delays caused by Covid.
Dubbed Solaire North, the resort had been scheduled to open in 2022. The new property will be Bloomberry’s second in the Philippines after its IR in Entertainment City.
Bloomberry defers completion of QC casino hotel (Manila Standard)
Bloomberry Resorts has hit back at a lawsuit filed against the company's chairman in New York by the Philippines unit of Global Gaming Asset Management as "shameless" forum shopping and said it will vigorously defend case.
A unit of Global Gaming Asset Managers is suing Bloomberry Resorts Chairman Enrique Razon in a New York court, claiming he illegally terminated a management accord for the Solaire Resort & Casino and is hiding assets in the U.S. to avoid payment of an arbitration award.
Bloomberry Resorts' Solaire Resort & Casino is marking its eighth birthday, with Chief Operating Officer Thomas Arasi saying that the "challenges we faced have made us more resilient during great adversity and uncertainty."
Bloomberry Resorts said its recovery is “well underway” after posting positive EBITDA for Q4 due to strength in the local mass market.
Bloomberry Resorts posted a positive EBITDA of PHP129.3 million in Q4 as revenue rose 22 percent from the prior quarter, driven by the local mass market.
The Singapore Court of Appeals has rejected an appeal by Bloomberry Resorts against an award granted to Global Gaming and Asset Management in a long-running legal dispute.
Operators in Entertainment City had already begun to complain about the impact of rising competition on their margins even prior to the Covid-19 crisis.
Bloomberry Cultural Foundation has donated PHP50 million ($1 million) to construct the first hospital in San Andres, a remote area of Quezon.
Bloomberry Resorts chief Enrique Razon is spearheading efforts to bring Moderna’s coronavirus vaccine to the Philippines, consolidating orders from the wealthy class, business organizations, and other interested parties.
Bloomberry Resorts said its Bloomberry Resorts and Hotels unit signed, with a syndicate of banks, an amendment to the P73.5 billion ($1.5 billion) Omnibus Loan and Security Agreement for an additional facility in the principal amount of P20 billion. The facility was oversubscribed.