This project will be Blomberry’s second integrated resort in the Philippines
Bloomberry Resorts & Entertainment, operator of Solaire Resort and Casino in Manila is proceeding with its expansion Solaire North project in the hopes of post pandemic recovery in the next few years.
The Solaire North project will be the operator’s second integrated resort in the country which will be located in Quezon City, northern part of Metro Manila. The project will be a 1.5-hectare property to be named Solaire North.
“We believe that its opening will coincide with a meaningful up cycle that is typical after a period of economic weakness,” Chairman and CEO Enrique K. Razon said.
“We look to emerge from this crisis as a much stronger company,” he added.
Solaire North is expected to open in 2023.
Solaire has reported a net loss of P3.3 billion (US$66 million) for the first half of this year, compared to a profit of P4.7 billion (US$94 million) for the same period last year. A 95 percent drop in gross gaming revenue profit was also reported for just the first quarter of this year.
The gaming industry in the Philippines has been suspended since mid-March, following the order of regulator Philippine Amusement and Gaming Operator (PAGCOR) as a response to the government’s call to curb the spread of the coronavirus. Since then, Manila and the rest of the country has been in different quarantine stages, allowing several industries to operate on a limited capacity.
Land based casinos in the country’s Entertainment City, including Solaire North, have not officially announced any reopening dates but are in full preparation for eventual reopening depending on the government’s announcement. However, while in General Community Quarantine in mid-June, some casinos were allowed to perform a dry-run for limited and select guests.
About SiGMA Foundation:
SiGMA Foundation is the charitable arm of SiGMA Group, reflecting the company’s commitment to supporting those in need around the world with fund-raising activities.