Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Bloomberry to Open Resort-Casino Development on March 16

02/06/2013 | 02:01am US/Eastern
Recommend:
0
   By Cris Larano 
 

MANILA--Bloomberry Resorts Corp. (BLOOM.PH) Wednesday said it will open on March 16 the first phase of Solaire Manila, its integrated resort and casino development in Entertainment City, the Philippines' answer to the Las Vegas Strip.

It said it has hired about 400 people for the 500-room hotel and casino.

Many of the most modern "gaming equipment and facilities are installed and will be used in Solaire Manila," Bloomberry said in a filing to the stock exchange.

It said it will finish the second phase adding 300 more rooms in 2 years' time. It said it will have spent $1.2 billion on the project once completed.

Bloomberry is one of four licensed to operate casinos in Entertainment City, a 100 hectare development on land reclaimed from Manila Bay.

The other licensees are Tiger Resorts Leisure and Entertainment Inc. of Japanese tycoon Kazuo Okada; a partnership of Belle Corp. (>> Belle Corporation) and Melco Crown Entertainment Ltd. (>> Melco Crown Entertainment Ltd (ADR)); and a joint venture of Genting Hong Kong Ltd. (>> Genting Hong Kong Limited)--an associate of Malaysia-based gaming giant Genting Bhd (3182.KU)--and conglomerate Alliance Global Group Inc. (ALGGY).

State gaming agency Philippine Amusements and Gaming Corp. expects Entertainment City to push annual gaming revenue to as much as $10 billion after developments by the four are completed by 2016, from around $2 billion last year.

Write to Cris Larano at cris.larano@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Recommend :
0
React to this article
Latest news
Date Title
<1m ago STUDIES CONDUCTED AT WESTERN CAROLINA UNIVERSITY ON ADDICTION RESEARCH RECENTLY REPORTED (COCAINE USE DISORDER PREVALENCE : From Current DSM-IV to...
1m ago BALL : Students to Launch the Future of Colorado Aerospace on Saturday, July 26
2m ago PANISH SHEA & BOYLE :  LLP Announces $3.1 Million Jury Verdict for Woman Injured In Low Impact Collision
3m ago New Epidemiology Study Findings Recently Were Reported by Researchers at Columbia University (Concordance Between Gambling Disorder Diagnoses in the...
3m ago NXP Semiconductors Reports Second Quarter 2014 Results
3m ago FARMERS CAPITAL BANK : Announces Second Quarter Earnings
3m ago Chengda Renews Strategic Relationship with Intergraph®
3m ago EBAY : Prices $3.5 Billion Senior Unsecured Notes Offering
4m ago Minister Ritz Highlights Importance of Canada-US Agricultural Trade at Major Economic Summit
4m ago BERNARD MADOFF : Judge dismisses suit claiming JPMorgan knew of Madoff fraud
Latest news
Advertisement
Hot News 
EUROPEAN ISLAMIC INVESTMENT BANK : Euro Islamic Inv Bnk - Proposed appointment of CFO and Executive Director
PENNA CONSULTING : Quarterly Revenue And Profit Ahead Of Expectations
RAPIDCLOUD : To Acquire Exxelnet For GBP950,000 In Cash And Shares
WEDNESDAY'S ETF MOVERS : Xbi, soxx
SERABI GOLD : Declaration of commercial production at Palito and second quarter operations update
Most Read News
56m ago QUALCOMM : struggles to collect royalties in China, stock falls
46m ago AT&T : new device financing plan weighs on revenue
8m ago FACEBOOK : beats Wall Street targets, stock hits record high
1h ago Talisman Energy says approached by Spain's Repsol about deal
1h ago NOVO NORDISK A/S : New Colitis Study Results from Novo Nordisk Described (Predictive validity and immune cell involvement in the pathogenesis of piroxicam-accelerated...
Most recommended articles
6d agoDJU.S. Industrial Production-Historical
4m ago BERNARD MADOFF : Judge dismisses suit claiming JPMorgan knew of Madoff fraud
8m ago FACEBOOK : beats Wall Street targets, stock hits record high
9m ago EUR/JPY TECHNICAL ANALYSIS : Selloff Stalls at Channel Floor
9m ago GBP/JPY TECHNICAL ANALYSIS : Range-Bound Trade Continues
Dynamic quotes  
ON
| OFF