The land is situated in a coastal community in Cavite, about 66 kilometers (41 miles) southwest of Metro Manila.
Philippines-based casino operator Bloomberry Resorts Corp is in the final stages of acquiring land for a new casino resort in Paniman, a coastal community in Cavite, about 66 kilometers (41 miles) southwest of Metro Manila.
“Bloomberry is in the process of completing the land acquisition in Paniman, Ternate, Cavite and developing the master plan for this project,” the company stated in a Wednesday filing.
While the timeline is yet to be finalized, the company expressed strong interest in developing and opening the Paniman project within the next five to 10 years.
The statement followed remarks from Alejandro Tengco, chairman and CEO of the Philippine Amusement and Gaming Corp (Pagcor), who revealed that “another Solaire property resort” is expected to launch “some time in the end of 2028.”
Bloomberry currently operates Solaire Resort & Casino in Manila, and in May opened Solaire Resort North, another gaming complex in Quezon City, northeast of the capital.
The US$1-billion Solaire Resort North is now launching VIP operations on floors 36 and 37, with a ceremony held on September 8.
In April, Bloomberry’s chairman and CEO, Enrique Razon, emphasized that the company’s focus is on fully ramping up operations at Solaire Resort North before initiating other projects, including the second phase of Solaire Resort & Casino in Manila and the Cavite development.
“Once Solaire North is fully ramped up, and both properties are generating a certain expectation that we have on cash flow… then we will probably launch the Paniman project,” said Razon, as cited by local media.