Bloomberry readies new casino expansion program
Integrated resort operator Bloomberry Resorts Corp. is planning a new phase of expansion for Solaire Resort & Casino, one envisioned to catapult its entertainment hub in the Philippines into one of the world’s largest and possibly set up shop in new offshore markets like Japan.
In an annual report to stockholders, Bloomberry president Thomas Arasi said that after the $500-million phase 1A expansion of Solaire, which will open later this year and expand its manpower base to 5,600 from 4,300, planning has started for further expansion of the resort.
The expansion will include the construction of three new hotel towers with 1,500 additional guest rooms, a 15,000-seater events area and 100,000 additional square meters of space for retail and meetings, incentives, conventions and exhibitions/events (MICE) and about 35 new food and beverage outlets.
This phase 2 expansion will also expand Solaire’s gaming tables to 650 from 360 (after the completion of phase 1A ) while electronic gaming machines will increase to 3,000 from 1,711.
“Once this expansion has been completed, Solaire will rank among the largest and most comprehensive integrated resorts in the world,” Arasi said.
Bloomberry chair Enrique Razon told reporters after the stockholders’ meeting that expansion of Solaire would be bigger than phase 1 and phase 1A but the timing of construction would depend on market demand.
At present, work is in full swing for phase 1A expansion, for which the company invested an additional $500 million. The new wing was expected to open in November this year, Razon said.
This phase 1A expansion includes a 312-room all-suite boutique hotel tower, a retail promenade anchored on 40 luxury brand shops, a 1,700-seat performance theater, more food and beverage offerings, a nightclub, KTV, whisky bar, spa, gym and salon. There will also be an additional 220 slot machines and 65 VIP gaming tables. The projected gaming and non-gaming traffic is expected to be amply provided for with new parking facilities with approximately 3,100 parking spaces.
Razon said this 1A phase of expansion could easily jack up the share of revenues from foreign junket operators to 70 percent from around half at present.
On Bloomberry’s aspiration to expand to offshore markets, Razon said the group was now in talks with potential Japanese partners to bid for a gaming license in Japan once the wealthy Asian nation has passed an enabling law on gaming. Doris C. Dumlao
