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  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexEconomic EventsPress releases

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 "Economy & Forex"
10:41p NORTH WALES CRUSADERS : Bloomfield commits to crusaders
10:41p NATIONALS PREVIEW : Mens Division 2 and 3
10:36p ICYMI : NAM Spotlight Senator Corker’s Vote on the Budget as Critical to Achieving Tax Reform
10:31p CHELLIE PINGREE : Trump Administrations Withdraws New Protections for American Farmers
10:26p CALIFORNIA ATTORNEY GENERAL OFFICE : Attorney General Becerra Sues U.S. Interior Department To Ensure California Receives Its Fair Share from Mineral Extraction Fees on Federal Lands
10:26p U S DEPARTMENT OF TREASURY : Treasury International Capital Data For August
10:22p TSX edges higher on financial shares, Bombardier
10:21p MEXICO CONSIDERS NEW LAWS ON INVESTOR SECURITY IF NAFTA DIES : minister
10:21p NCGA NATIONAL CORN GROWERS ASSOCIATION : Road Tripping with E85
10:21p COMMUNITY HIGH SCHOOL DISTRICT 155 : CLS Variety Show
Latest news "Economy & Forex"
Advertisement