June 24, 2013

Solaire Phase1-A to be completed by 3Q2014

Bloomberry chairman Enrique Razon Jr. said Solaire Resort and Casino Phase 1-A expansion is 40% complete, with construction cost estimated to reach P7.8 B by end-2013.

Total estimated cost for Phase 1-A is P20.5 B. The company hopes to inaugurate Phase 1-A in the third quarter of 2014.

Phase 1-A will allow Solaire to offer a 300-all-suite hotel, 3,900 parking slots, a shopping center with luxury brand stores and an entertainment theater.

For this year, Bloomberry will spend $15 M for additional transportation equipment for hotel operations, security enhancements, additional slot machines, and other cage and engineering modifications. - WealthSec