Tag Archives: Bloomberry
Philippines – Bloomberry planning second Soliare-style casino in the Philippines
Bloomberry Resorts owner Enrique Razon has confirmed the company will start work on its second casino in the Philippines next year with a P1.9bn development in Quezon City following a smilar model to its first resort; Solaire. The announcement of casino development in Quezon City, the most populous city in the Philippines and one of…
Cyprus – House Plenum approves casino legislation
The Cypriot Parliament approves legislation to grant the Republic of Cyprus’ first legal casino, with the tender process expected to conclude shortly, despite a challenge to the bidding process. March 10 saw the Cyprus’ House Plenum approve the regulations for the first completely legal casino in the Republic of Cyprus with 28 votes in favour,…
Cyprus – Cypriot tender process down to three casino groups
The Cypriot government has been wooed by the Far East in its quest to select a casino operator to run its resort casino along with up to four satellite venues. It has now picked the three casino operators who will make it through to the final stage of its tender process, whittling them down from…
Philippines – Philippine operators predict rebound in 2016
Mirroring the spectacular nosedive by Macau’s casino sector, decline in the Philippine gaming market has seen share prices for local operators slashed by half. First Metro Investment Corp. (FMIC) believes that tightly aligned to the Macau sector, the Philippine slump is set to continue. In a report, FMIC said: “Listed Philippine casino and hotel operators…
Argentina – Bloomberry looks to take Solaire to Buenos Aires
Bloomberry Resorts a company based in the Philippines could enter the Latin American market with a new casino in Argentina. Bloomberry told the Philippine Stock Exchange yesterday that: “Solaire de Argentina has a proposal to establish an integrated resort in Argentina, but it is still pending evaluation and action of government agencies and regulators in…
Philippines – Bloomberry posts loss despite Solaire’s revenue growth
Rising costs have seen Philippine casino operator Bloomberry Resorts post a net loss of P786.55m (US$17m) for the second quarter to June. The good news was that GGR over the three months increased by nine per cent to 5.986bn pesos, offset by increasing 59 per cent to P6.27bn. The cost have risen due to expansion…
Philippines – Philippine stocks plummet due to Chinese crackdowns
Macau hasn’t been the only place hit by China’s crackdown on corruption and austerity with operators in Manila’s Entertainment City losing market value. Melco Crown and Bloomberry Resorts have both been hit hard with JPMorgan Chase & Co. predicting that profits will fall across the Philippines by 56 per cent in 2016. Shares in Bloomberry,…
South Korea – Bloomberry secures land for Korean project
Philippine’s operator Bloomberry Resorts has confirmed it will develop a casino and entertainment complex in South Korea, marking its first overseas project. The project will carry the Soliare brand that Bloomberry utilised with the $1.2bn Solaire casino resort in Manila. Bloomberry stated: “Bloomberry Resorts has signed a four real estate agreement with several landowners for…
Philippines –Philippines falls short of PAGCOR’s predictions in 2013
Gaming revenue in the Philippines fell short of expectations missing estimates by 12 per cent in 2013 due to a fall in tourist levels from mainland China and Hong Kong. Cristino Naguiat, Chairman of the state-run Philippine Amusement and Gaming Corporation (PAGCOR) said that the country, recorded gaming revenue of $2.2bn in 2013, 10 per cent more…
