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 agoDJOracle Team USA Picks Bermuda for 2017 America's Cup
3m ago MINISTRY OF FINANCE OF REPUBLIC OF INDONESIA : 4 Government’s Focuses for Oil Fuel Subsidy Saving
4m ago 5BANC SPLIT : Announces Quarterly Dividends on Class C Preferred Shares and Class B Capital Shares
8m ago GUILDFORD COAL : Appendix 3Z - Final Directors Interest Notice
8m ago ABBVIE : Acquires Manufacturing Facility in Singapore; Further Expands Capabilities in Asia
8m ago OILTANKING PARTNERS : SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of Oiltanking Partners, L.P. in Connection with the Sale of the Company
10m ago BIG 8 SPLIT INC. : Announces Quarterly Dividends on Preferred Shares and Capital Shares
11m ago Carriers suspend US West Coast port congestion surcharges
11m ago China's Nov manufacturing PMI at six-month low: HSBC (China Nov manufacturing PMI at six month low)
13m ago ELLSWORTH FUND : Issue price announced for the 2014 year-end dividend Nov 20, 2014
Latest news
Advertisement
Hot News 
CARBIOS : Depolymerizes 90% of PLA Material in 48 Hours with Its Innovative Enzymatic Process
WILMINGTON : Charles Brady Buys 1.3 Million Shares (DIRECTOR DEALINGS)
NIGHTHAWK ENERGY : Production and Drilling Update
CAPITAL GEARING : Availability of Half-yearly Report
SPRUE AEGIS : Expects To Beat Market Expectations On Strong Second Half
Most Read News
1h ago Under Senate glare, Goldman rejects commodity manipulation
3h ago Takata executive warns about ability to fix deadly air bag flaw
3h ago MORGAN STANLEY : Oil Price Plunge Tells Morgan Stanley OPEC Action Is More Likely
3h ago DTE ENERGY : announces expansion in Bluestone system
3h ago Takata executive warns about ability to fix deadly air bag flaw
Most recommended articles
1m agoDJOracle Team USA Picks Bermuda for 2017 America's Cup
14m agoDJObama's Immigration Plan Seen Affecting Wages, Job Moves
18m agoDJKeppel Telecommunications, Keppel Land JV to Buy Data Center in Netherlands
42m agoDJKorea Gas Seeks to Sell Part of LNG Canada Stake
56m agoDJSingapore Technologies Engineering Announces Senior Management Changes
Dynamic quotes  
ON
| OFF