Philippines-based casino operator Bloomberry Resorts Corp has confirmed that it is in the final stages of acquiring a plot of land for a new casino resort project in Paniman, a coastal community in Cavite, about 66 kilometres (41 miles) southwest of Metro Manila.
“Bloomberry is in the process of completing the land acquisition in Paniman, Ternate, Cavite and developing the master plan for this project,” stated the casino firm in a Wednesday filing.
“While the timeline has not been finalised, the Paniman development is definitely a project that the company is keen to develop and open in the next five to 10 years,” it added.
The commentary was issued in a filing regarding the project, after Alejandro Tengco, chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), said on Tuesday that “another Solaire property resort” would launch “some time in the end of 2028”.
Bloomberry runs Solaire Resort & Casino (pictured) in the Philippine capital Manila, and in May opened Solaire Resort North, another gaming complex in Quezon City, northeast of Manila.
As reported by GGRAsia, the US$1-billion Solaire Resort North was launching this month VIP operations on floors 36 and 37. A launch ceremony was held on September 8.
In April, Enrique Razon, Bloomberry’s chairman and chief executive, said the company would focus on ramping up the operations of Solaire Resort North before starting other projects, including Phase 2 of Solaire Resort & Casino, in Manila, and the Cavite project.
“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,” stated Mr Razon at the time, as cited by local media.
