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
   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
<1m ago STARHUB : confirms disruption to broadband, digital voice services
<1m ago AMERICAN TOWER : Bharti Airtel finalises American Tower sale for Nigerian assets
<1m ago VODAFONE : The Slow Death Of The USB Mobile Broadband Dongle
<1m ago SUNEDISON : wins deal to develop 1 GW of solar power in Brazil
<1m ago SUNEDISON : TerraForm sells $350M stock for First Wind acquisition
<1m ago LOCKHEED MARTIN : Opens Commercial Space Headquarters In Denver, CO
<1m ago ANALOG DEVICES : ADI) Pops 5.51% for November 26
<1m ago BLUEFIELD SOLAR INCOME FUND : to expand Hardingham solar power facility
<1m ago PROVIDENCE RESOURCES : IIROC Trade Halt - Providence Resources Corp.
<1m ago F&C UK REAL ESTATE INVESTMENTS : s) in Company
Latest news
Advertisement
Hot News 
DIXONS CARPHONE : *citigroup raises carphone warehouse price target to 480 (430) pence - 'buy'
IMPAX ASSET MANAGEMENT : Raises Dividend As Pretax Profit Rises
DRIVER : Shares Hit Seven Week High After Big Oman Contract Win
GLOBAL BIOENERGIES : Successful First Trial in Its Industrial Pilot
AUGEAN : Capital Markets Day
Most Read News
1d ago GOPRO : Hero 3 Christmas Discount Covered in New Price Guide at ReelGifts.com
1d ago APPLE : Global tablets expected to slow in 2015, led by iPad shipment downturn
1d agoDJWAL MART STORES : Cuts Nearly 30 Directors and Midlevel Managers in China--Spokesman
5h ago LEGAL & GENERAL : £2.5bn TRW Pension Scheme bulk annuity contract'
2h ago Low expectations for oil output cut as OPEC meets
Most recommended articles
7m ago EXCLUSIVE : France, Italy, Belgium may break budget rules, EU to revisit in March
7m agoDJGold Slips; Dealers Cautious Ahead of Swiss Vote
8m ago Futures modestly lower ahead of OPEC meeting
8m agoDJHamas Terror Network Uncovered in Israel
8m ago Investors keenly await remarks from incoming finance minister
Dynamic quotes  
ON
| OFF