Boulevard Holdings Inc. (BHI) has unveiled plans to incorporate casino business in its development plan for Puerto Azul.
The company also said it was pursuing the expansion of its tourism venture in Cebu.
In a disclosure to the Philippine Stock Exchange Thursday, BHI’s board approved the inclusion of gaming casino in the resort portion of the Puerto Azul leisure estate.
The board also approved the acquisition by BHI’s resort unit Friday Holdings Inc. of some parcels of land in Moalboal, Cebu—a tourist destination, especially for diving and beach activities.
BHI agreed to pay P707.62 million to acquire a 353,810-square-meter land in Moalboal, which is about a two-hour drive southwest from Cebu City.
The company earlier assumed the role of property lease manager for Cebu resort estate landowner Tri-Islands Corporate Holdings Inc. for the latter’s 300-hectare land in Barangay (village) Saavedra, Moalboal. This will be under a two-year “tryout” period.
BHI, which has been expanding rapidly in the tourism business, is now incorporating gaming in its property portfolio.
The company has yet to provide details on the inclusion of gaming in the Puerto Azul portfolio.—Doris C. Dumlao