Philippines-based casino operator Bloomberry Resorts Corp is finalizing its acquisition of land for a new casino resort in Paniman. This coastal community is in Ternate, Cavite, located 66 kilometers (41 miles) southwest of Metro Manila.
In a Wednesday filing, the company announced, “Bloomberry is completing the land acquisition in Paniman, Ternate, Cavite, and developing the master plan for the project.” Although the company has not confirmed a specific timeline, it emphasized its eagerness to develop and open the Paniman resort. The firm aims to do so within the next five to 10 years.
The company issued this statement after Alejandro Tengco, chairman and chief executive of the Philippine Amusement and Gaming Corp (PAGCOR), made relevant comments on Tuesday. Tengco stated that “another Solaire property resort” would likely open “sometime by the end of 2028.”
Currently, Bloomberry operates Solaire Resort & Casino in Manila. Additionally, the company recently launched Solaire Resort North. This large-scale gaming and hospitality complex is in Quezon City, northeast of the capital. The US$1-billion Solaire Resort North began VIP operations this month. It opened its 36th and 37th floors to guests. A formal launch ceremony was held on September 8.
Earlier in April, Bloomberry’s chairman and CEO, Enrique Razon, stated that the company would first focus on optimizing Solaire Resort North. Only after that would it move forward with new projects. These include Phase 2 of Solaire Resort & Casino in Manila and the upcoming Cavite resort. He explained, “Once Solaire North reaches our expected cash flow targets, we will likely proceed with the Paniman project,” as reported by local media.
This upcoming development in Cavite could greatly benefit the southern part of Metro Manila. It may help decongest Entertainment City, which currently houses most of the capital’s large-scale integrated resorts. Moreover, the planned Cavite casino resort could feature a world-class golf course. This addition would further boost tourism and provide economic uplift to the region.
