Philippines-based casino operator Bloomberry Resorts Corp is finalizing the acquisition of land for a new casino resort in Paniman, a coastal community in Cavite, 66 kilometers (41 miles) southwest of Metro Manila.
“Bloomberry is completing the land acquisition in Paniman, Ternate, Cavite, and developing the master plan for the project,” the casino firm announced in a Wednesday filing. Although the timeline is yet to be confirmed, the company is eager to develop and open the Paniman resort within the next five to 10 years, it added.
The statement was issued following comments by Alejandro Tengco, chairman and chief executive of the Philippine Amusement and Gaming Corp (PAGCOR), who on Tuesday mentioned that “another Solaire property resort” would open “sometime by the end of 2028.”
Bloomberry currently operates Solaire Resort & Casino in Manila and recently opened Solaire Resort North, another gaming complex in Quezon City, northeast of the capital. The US$1-billion Solaire Resort North began VIP operations this month on its 36th and 37th floors, with a launch ceremony held on September 8.
In April, Enrique Razon, Bloomberry’s chairman and chief executive, stated that the company would focus on optimizing Solaire Resort North before launching new projects, including Phase 2 of Solaire Resort & Casino in Manila and the Cavite project. “Once Solaire North reaches our expected cash flow targets, we will likely proceed with the Paniman project,” Razon said, as reported by local media.
This will be a good development for the south part of Metro Manila to help decongest Entertainment City. The casino resort in Cavite could also feature a world class golf course to help boost tourism in the area.