
The entrepreneur behind the Solaire Resort North casino complex in the Philippines has confirmed that the establishment is scheduled to open in March 2024.
Enrique Razon, Chairman and CEO of Bloomberry Resorts Corp, provided updates during the third-quarter earnings announcement in November, stating that construction was on track for completion by March 2024. The recent confirmation of the March 2024 opening was reported by the Philippine Star, citing an interview with Razon.
The project had experienced delays due to the Covid-19 pandemic, as mentioned by Razon in June 2020. The property is expected to require approximately 4,200 workers for operations, featuring a hotel tower with 550 rooms and a gaming area housing up to 200 gaming tables and 3,000 slot machines.
Bloomberry currently operates the Solaire Resort and Casino in Entertainment City Manila, as well as the Jeju Sun Hotel and Casino in Jeju, South Korea. The company has expressed its intention to build a third casino resort on Luzon, specifically in Paniman, Cavite, as disclosed in a filing to the Philippine Stock Exchange in May 2022.
In the third quarter of 2023, Bloomberry reported a year-on-year increase of 19.2 percent in net income attributable to shareholders, amounting to nearly PHP 1.86 billion (approximately US$33.4 million).
Having another Integrated Resort and Casino in the northern part of Metro Manila will help provide a good venue for players in that area. This could also provide another venue for its online gaming platform streaming from its land based casino area to provide more options to the online gaming market.