• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Philippine casino operator Bloomberry in US$1.4bln loan

Apr 12, 2018 Newsdesk Latest News, Philippines, Top of the deck  


Philippine casino operator Bloomberry in US$1.4bln loan

Bloomberry Resorts and Hotels Inc, a unit of Philippine casino investor Bloomberry Resorts Corp, has taken out a PHP73.5 billion (US$1.41 billion) loan with a syndicate of seven Philippine banks.

A Wednesday filing by the parent, which is the promoter of the Solaire Resort and Casino (pictured) in Manila, said part of the proceeds would be used for “investments and working capital requirements” of Bloomberry Resorts and Hotels.

The group has already announced a slate investment commitments, including a new casino resort at Quezon City north of Metro Manila, and reiterated in its annual results published earlier this month, plans for a tourism resort near Incheon in South Korea. Bloomberry Resorts has also expressed interest in obtaining a Japan casino licence, and in a possible Vietnam investment.

The group was the only bidder in an auction process – initiated in January by the country’s casino regulator, the Philippine Amusment and Gaming Corp (Pagcor) – for the land on which Solaire stands. Pagcor has since announced a new auction for that land, with proposal submission scheduled for April 17. The minimum bid price is PHP37.23 billion.

Bloomberry unit Sureste Properties Inc provided surety for the freshly-announced loan, which involved BDO Capital and Investment Corp as the lead arranger and sole book runner.

The deal has also refinanced all the existing loans of Bloomberry Resorts and Hotels and Sureste Properties, said the filing.


  • tweet
Related articles
  • Border casino op Donaco posts positive EBITDA for Jul-Dec
    Border casino op...

    Feb 26, 2021  

  • Suncity listco US$24mln cash under China property disposal
    Suncity listco US$24mln cash under...

    Feb 22, 2021  

More news
  • Aristocrat to launch EGM-based responsible gaming features
    Aristocrat to launch EGM-based...

    Feb 26, 2021  

  • Suncity to open clubs at Londoner Macao, Lisboa Palace
    Suncity to open clubs at Londoner...

    Feb 26, 2021  


Latest News

Aristocrat to launch EGM-based responsible gaming features

Aristocrat to launch EGM-based responsible gaming features

Feb 26, 2021  

Casino slot machine maker and digital games provider Aristocrat Leisure Ltd says it plans to launch in the first quarter this year a new product with responsible gaming features, which has already...
Read More
Suncity to open clubs at Londoner Macao, Lisboa Palace

Suncity to open clubs at Londoner Macao, Lisboa Palace

Feb 26, 2021  

Tech supplier Crane ups forecast for 2021 core sales

Tech supplier Crane ups forecast for 2021 core sales

Feb 26, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day


US$53.4 million

Adjusted EBITDA reported by Asian casino operator Melco Resorts and Entertainment for the fourth quarter of 2020



Most Popular

  • Macau casino GGR soared in final days of CNY: brokeragesMacau casino GGR soared in final days of CNY: brokerages February 23, 2021
  • Pansy Ho sells off more stock in MGM Resorts for US$36mlnPansy Ho sells off more stock in MGM Resorts for US$36mln February 23, 2021
  • Macau removes last mainland cities from its quarantine listMacau removes last mainland cities from its quarantine list February 23, 2021
  • Macau VIP challenged by changes in China: Galaxy Ent bossMacau VIP challenged by changes in China: Galaxy Ent boss February 25, 2021
  • Galaxy Macau Phase 3 MICE to launch in stages says execGalaxy Macau Phase 3 MICE to launch in stages says exec February 24, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us