Solaire Manila on track to open by Q1 2013
MANILA, Philippines - Integrated gaming and entertainment complex Solaire Manila is on track to open at the Philippine Amusement and Gaming Corp.'s (Pagcor) Entertainment City by the first quarter of 2013, according to Bloomberry Resorts Corp.
Michael French, Bloomberry president and chief operating officer, said construction on Solaire Manila was now over 80 percent completed and it is expected to open by early next year.
"We intend to be a major destination in Manila... We think that the gaming market is quite good in Manila. Supply builds demand instead of demand building supply," he said.
French welcomed the entry of more gaming operators in the Philippines, saying it will be better for the industry as a whole. He noted the success of Resorts World in Newport City, saying "it has not taken away revenues form existing Pagcor casinos."
Bloomberry is completing the building of 700 hotel rooms in time for the casino's opening. The hotel will be under the group's own Solaire brand, which will cater to the high-end market.
French said Bloomberry is looking to expand its hotel operations beyond the minimum requirements, and it has already started the groundwork for expansion.
The company expects to add 300 more guest rooms and retail space at Solaire Manila, a year after its opening.
Bloomberry, a property company led by ports magnate Enrique Razon, owns Solaire Manila through its subsidiary Sureste Properties Inc.