CASINO

Bloomberry sees profit in five years; Melco PH eyes 2014 opening

TAGs: Casino News, melco crown philippines, Philippines, Solaire Manila

philippines-entertainment-city-casino-dealsExpansion and development plans are in full swing at Pagcor’s Entertainment City, at least as far as two of the four casino operators in the area are concerned.

Solaire Manila, the only integrated resort and casino that’s already open in Entertainment City, is looking to complete the second phase of its $1.2 billion project in the next 15 months. The hope, as far as Bloomberry Resorts Corp is concerned, is to finish the $480 million expansion in time for the company to turn a profit in less than five years.

Bloomberry chairman Enrique Razon Jr recently told reporters after a stockholder’s meeting that he was optimistic that the fully-funded project will be finished in the set time, allowing Solaire to have a decided advantage over its rivals who are all expected to be in just their infancy stages at that time. “Solaire is thick into the process of ramping up its gaming business and we are looking to open a new 308-suite hotel and more entertainment facilities by the third quarter of next year,” the Bloomberry big boss told Reuters.

As it stands, Solaire Manila’s visitation numbers are trending up since it opened its doors last March with an estimated visitation total during the weekend pegged between 15,000 and 16,000 visitors. Impressive numbers, but the totals still point to plenty of room for improvement, something Solaire is expecting once the resort’s second phase, which includes a new hotel, high-end retail and dining options, is completed.

Speaking of completions, one of Bloomberry’s rivals at Entertainment City, Melco Crown Philippines, is looking at completing its own integrated resort and casino – Belle Grande – soon, at least in time for a mid-2014 opening. That much was made evident by Melco Crown Philippine Resorts Corporate, who is now in the process of building and developing its own 950-room hotel complex with local company Belle Corporation, which will also include up to 240 gambling tables and 1,250 slot machos.

“We will open everything in one go in mid-2014,” Clarence Chung, chairman and president of Melco Philippines, told reporters last week about the company’s plans.

“The Chinese would definitely be one of the major targets and, obviously, we’re targeting the Southeast Asians,” Chung added before pointing out that with the company’s existing connections and VIP database in Macau, it would tap into its wealth of access to promote the soon-to-open integrated resort and casino.

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