Bloomberry to spend P51B to expand Solaire Resort & Casino

Bloomberry Resorts Corp. is investing nearly P51 billion to complete the expansion of Solaire Resorts & Casino by November, company officials said Thursday.

 

As the ongoing expansion – called "Phase 1A" – swings into full gear, Bloomberry is also planning the second phase of Solaire's development.

 

The $500-million Phase 1-A is on-track for opening in the fourth quarter, chairman and CEO Enrique Razon told stockholders of Bloomberry during the annual meeting in Parañaque City on Thursday.

 

"Work is in full swing, and we are set to open in the fourth quarter, on time and on budget," he said.

 

Phase 1-A includes a 312-room, all-suite hotel tower, 10,000 square meters of high-end retail area, a 1,760-seat lyrical theater and more restaurants.

 

It will also add 65 VIP gaming tables and 223 electronic gaming machines.

 

For Phase 1-A, president and COO Thomas Arasi said the total cost for the expansion is expected at P22.524 billion.

 

"Upon completion, Bloomberry will have invested P50.912 billion in Phase 1 and Phase 1-A combined," he said.

 

"Construction is continuing nicely, and we remain confident that we will open and commence operations in the fourth quarter," he added. 
 

Phase 2 planning is also under way.

 

"The Phase 2... We have a rough plan for the property, and if the market justifies it, we'll start developing it," Razon said.

 

Asked how much it will cost, he said, "It will be bigger than Phase 1 and 1-A."

 

Phase 2 will encompass 1,500 rooms in three new hotel towers, 15,000-capacity events arena, additional 100,000 square meter retail space, 300 gaming tables and 1,300 electronic gaming machines.

 

The plan is to bring in new hotel brands, said Razon, who declined to identify the brands at this point. – VS, GMA News