Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Bloomberry to Open Resort-Casino Development on March 16

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/06/2013 | 08:01am CEST
   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 [email protected]

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
07:29a AMERICA MOVIL DE CV : Joint Venture between AMX and JCDecaux
07:29a ALPIQ : inaugurates hydropower plant in the Swiss canton of Glarus
07:28a SAISON INFORMATION SYSTEMS : SCSK Asia Pacific Becomes Certified HULFT Partner
07:26aDJGlobal Markets Higher; Australia Is the Exception -- Update
07:24a SUNCORP : Vero and Tower enter into Scheme Implementation Agreement
07:24a TWR : Tower signs scheme implementation agreement with suncorp
07:24a SUNCORP : Dividend/Distribution - SUNPE
07:24a SUNCORP : appoints Chief Program Excellence Officer
07:24a SUNCORP : update on proposed Tower Limited acquisition
07:24a SUNCORP : Dividend/Distribution - SUNPC
Latest news
Advertisement
Hot News 
0.19%Global Markets Higher; Australia Is the Exception -- Update
0.25%Santos Inks Strategic Relationship with ENN, Hony
Most Read News
12:41a CARLOS GHOSN : Nissan says CEO Ghosn's salary rose 2.5 percent last year
06/26 Oil up for fourth day on short-covering, supply glut caps gains
06/26 U.S. finds Canada softwood lumber dumped, sets preliminary duties
06/26 NATIONAL AUSTRALIA BANK : realestate.com.au and NAB form strategic partnership to boost home loan offering for Australian homebuyers
06/26 TALLGRASS ENERGY PARTNERS LP : Clogged oil arteries slow U.S. shale rush to record output
Most recommended articles
01:26aDJGlobal Markets Higher; Australia Is the Exception -- Update
01:18a WITH ALPHABET, GOOGLE FACES A DAUNTING CHALLENGE : organizing itself
01:17aDJNEWS HIGHLIGHTS : Top Global Markets News of the Day
01:15a TAKATA : Japan's Takata apologizes to victims of faulty air bags
01:13a In disaster's wake, BP doubles down on deepwater despite surging shale