Philippine business magnate Enrique K. Razon, Jr. shed on Thursday important details about his integrated resort operation’s plans to build a new Solaire-branded property in Quezon City
The businessman told reporters that Bloomberry Resorts Corp. is on track to commence construction on its new resort in mid-2019, business news outlet BW BusinessWorld writes.
First reports about Bloomberry’s plans to expand its Solaire brand beyond the capital Manila emerged in 2016. Last summer, the company confirmed that it intends to materialize those plans. Bloomberry currently operates Solaire Resort & Casino in Manila. The property was the first integrated resort to open doors as part of a government-spearheaded mega-scheme known as Entertainment City that aims to boost the city and the nation’s tourism industry.
Mr. Razon said Thursday that Bloomberry’s new property will be called Solaire North. The businessman went on to say that they have finalized the masterplan for the project. They are yet to estimate the total cost, but Mr. Razon told reporters that they expect to be done by mid-April or early May. An official announcement for the masterplan will then follow.
Bloomberry has secured all the necessary permits to proceed with the construction of the latest addition to its portfolio of properties, it also became known. That includes a Letter of No Objection (LONO) from Quezon City officials.
On Track for Mid-2019 Construction Start
Mr. Razon said that they will host a groundbreaking ceremony as soon as the site is cleared. Bloomberry targets June or July start of construction of what would operate as Solaire North.
The resort will feature a 40-story tower that will occupy a 1.5-hectare site inside the Vertis North complex. Solaire North will include hotels, food and beverage and entertainment facilities, and a casino. Bloomberry has said previously that it would look to capture mass market gamblers from Quezon City and the nearby Pampanga and Bulacan provinces.
Details about the new integrated resort are revealed amid a bitter dispute between the Quezon City local government unit and the Philippine gambling regulator PAGCOR over a proposed introduction of a casino entry fee for residents of the city.
Last month, Quezon City officials passed an ordinance that gave the green light to Bloomberry’s project but included a requirement that city residents be charged a levy in order to be allowed access to Solaire North’s gaming floor.
PAGCOR argued that Quezon City’s local government unit had no authority to impose such a fee or to regulate games of chance in any other way. Mr. Razon said Thursday that they would not involve themselves in the row and that they have been given the nod to move forward with their project.
Aside from domestic expansion, Bloomberry is also eyeing Japan’s nascent casino market. Mr. Razon said that they are looking for locations and are in talks with Japanese businesses for potential partnerships. The company also currently owns the Jeju Sun Hotel and Casino on South Korea’s Jeju Island.
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