International edition
September 19, 2021

By the end of 2014

Bloomberry Resorts to double in size with new additions in Philippines

(Philippines).- Bloomberry Resorts said it will open the second phase of the Solaire Resorts and Casino project by the end of the year, doubling the number of rooms and gaming facilities. Bloomberry president Thomas Arasi said in an interview the company expects to increase foot traffic in Solaire from below 12,000 with the completion of USD 500-million expansion project.

We will more than double in size. We increase hotel rooms inventory in excess of 60 percent and increase our VIP gaming area by more than two-thirds and with several restaurants, we have a lot more meeting space,” Arasi said. Other non-gaming facilities under the first phase of the expansion are 5,000 square meters of retail area, a 1,800-seat Broadway-style theater, an expansive night club and a karaoke bar.

Bloomberry would have invested P50.23 billion in its integrated casino and entertainment development after completing the first phase.

Arasi said the opening of another integrated resort and casino would have a positive effect on the domestic gaming industry due to the clustering effect. “When City of Dreams Manila opens, there will be of course short-term competition. But [in the] medium-term and long-term, the Philippines’ gaming market and the Entertainment City are going to be stronger, appeal to more people and have more products and services by the fact that there will be three of us here,” Arasi said.

He said the opening of other gaming facilities in Entertainment City would put the Philippines in the top five critical masses of high-end integrated resort clusters in the world after Macau, Las Vegas, Altantic City.             

Bloomberry earlier reported that net income in the first half of the year amounted to P2.3 billion, a turnaround from a loss of P1.03 billion year-on-year.
First-half gross revenues hit P14.158 billion, more than three times of the P4.473 billion generated in the same period last year.

Net income in the second quarter soared over 37 times to P847 million from P23 million on year, while revenues surged 62 percent to P6.77 from P4.175 billion on year. Bloomberry, owned by port magnate Enrique Razon, opened Solaire in March 2013. It was the first integrated resort and casino project to operate in Entertainment City.

Three more are expected to open similar facilities, namely City of Dreams Manila of Melco Crown (Philippines) Resorts Corp. and Belle Corp., Resorts World Bayshore of Travellers International Hotel Group and Manila Bay Resorts of the Okada group.

What is your opinion about this article?
  • I like it
    %
    0 votos
  • I don't like it
    %
    0 votos
  • I have not thought about it
    %
    0 votos
Leave your comment
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.
Follow us on Facebook