Bloomberry Resorts Corp. said it is buying 279.78 hectares in Cavite for a planned golf course and casino complex.
The Razon-led casino group said it is acquiring the property at an estimated P7.55 billion or at P2,700 per square meter (sq.m.). The property is located in Paniman area in Ternate Cavity, and is owned by Boulevard Holdings Inc., Puerto Azul Land Inc. Ternate Development Corp. and Monte Sol Development Corp.
The transaction will be facilitated through Bloomberry’s recently-established unit Solaire Entertainment Property Holdings Inc. (SEPHI).
“SEPHI will buy only titled and cleared land,” Bloomberry said.
“SEPHI intends to develop the Paniman property into an integrated resort and entertainment complex with a world class casino, hotel, golf course, commercial, residential and mixed use development,” it added.
Bloomberry said the Paniman project will commence development after its Solaire North in Vertis project in Quezon City becomes operational.
The Paniman project will be Bloomberry’s fifth integrated gaming complex in the country — two in operation and three either under construction or on the drawing board.
In operation are the 18,600-sq.m. Solaire Resort and casino which boasts of 800 hotel keys, 361 gaming tables, 1883 slot machines, and 88 electronic table games.
Bloomberry also operatesJeju Sun Hotel and Casino in Korea. The property consists of a 202 hotel keys, 2,000 sq.m. of gaming operations with 36 tables and 20 electronic gaming machines.
Solaire North is eyed for opening between the end of this year and early next year. Solaire North sits on a 15.68-hectare property in Quezon City central business district, acquired by Bloomberry in 2015.
Last week, Bloomberry announced it was buying into Dennis Uy’s casino businesses – Emerald Bay Resort Hotel and Casino in Cebu, and the The Base Resort Hotel and Casino in Clark Pampanga.
