Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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
   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

React to this article
Latest news
Date Title
09:34a RIO TINTO : starts exploration work at copper deposit in Kazakhstan
09:34a A new BlackBerry is coming to Malaysia
09:34a BLACKROCK INCOME STRATEGIES TRUST PLC - Statement re Disclosure of Portfolio Holdings
09:33a LG DISPLAY : to invest $803m in OLED
09:33a TELKOM SOC : to oppose unions' efforts
09:33a SAMSUNG ELECTRONICS : Investors lower Samsung Q2 expectations
09:33a TELKOM SOC : Maseko fraud case postponed
09:33aDJBOND REPORT : Treasurys Rally After Greeks Reject Bailout Proposal
09:33a First Business to Present at the KBW 2015 Community Bank Investor Conference on July 28
09:32a MIAX OPTIONS EXCHANGE : Announces Hiring of John Smollen as Its New Executive Vice President - Head of Exchange Traded Products and Strategic Relations
Latest news
Advertisement
Hot News 
INTERCEDE : Quarterly Revenue Doubles On Year Before, Outlook Positive
BILLINGTON : Set To Beat Market View After Strong First Half Trading
NISOURCE : Kevin T. Kabat to join NiSource Board of Directors
AVINGTRANS : Offloads Aldridge Site In West Midlands For GBP1.1 Million
EUROPA OIL & GAS () : Placing and Open Offer
Most Read News
06:16a Rolls-Royce cuts profit forecasts as new CEO takes helm
07/05DJBeijing's Effort to Halt Market Decline Yields Mixed Results
07/05 LIPPO MALLS INDONESIA RETAIL : Drawdown Of The Term Loan Facility And Use Of Proceeds
07/05 BIOTRON : 6 Jul 2015Independent Review of BIT225 Trial Data Supports Development in Combination with New HCV Drugs
12:36aDJOil Sinks on Greek Vote, Focus on Iranian Nuclear Deal
Most recommended articles
09:33aDJBOND REPORT : Treasurys Rally After Greeks Reject Bailout Proposal
09:31a Tunisia objects to HSBC settlement in Geneva
09:31aDJHUMANA : Cuts Guidance, Citing Medicare Advantage Admissions -- Update
09:31aDJU.S. Government Bonds Boosted by Greek Uncertainty
09:30aDJConditions Not Right for New Negotiations on Greek Bailout, Germany Says