Bloomberry opens Solaire Manila next month


Bloomberry Resorts Corp. (BLOOM:PH) is gearing up to open phase one of its USD $1.2 billion Integrated Resort Solaire Manila, on March 16. Located in the Manila Bay Entertainment City development, the property boasts a 500-room hotel and a casino. The Solaire IR will see the addition of another 300 rooms in two years time. Bloomberry is one of four licensees authorised to operate casinos in Entertainment City. The others include joint ventures between: Melco-Crown Entertainment (MPEL) and Belle Corp. (BEL:PH) – currently finalizing financing; Japanese magnate Kazuo Okada’s Entertainment Inc. and Tiger Resorts Leisure – still in negotiations; and Hong Kong subsidiary of Malaysian consortium Genting Bhd (3182.KU) and conglomerate Alliance Global Group Inc. (ALGGY). PAGCOR hopes annual gaming revenue will hit USD $10 billion once all four licensees have fully operational properties at Entertainment City.