Razon’s Bloomberry Resorts Corp Gears Up for Puerto Azul Resort and Casino

Enrique K. Razon Jr.’s Bloomberry Resorts Corp has announced his plans to invest in Puerto Azul in Ternate, Cavite from Boulevard Holdings Inc. (Jose Marcel Panlilio), where his company will be constructing another integrated resort and casino.

Bloomberry Resorts Corp. and Boulevard Holdings Inc. have signed an agreement for the sale of 279.77 hectares of land in the Paniman area in Ternate, Cavite at an average price of P2,700 per square meter. The deal was signed between Solaire Entertainment Property Holdings Inc. (SEPHI), a subsidiary of Bloomberry, and a group of landowners comprising Boulevard Holdings, Puerto Azul Land Inc., Ternate Development Corp., and Monte Sol Development Corp.

“SEPHI intends to develop the Paniman property into an integrated resort and entertainment complex with a world-class casino, hotel, golf course, commercial, residential, and mixed-use development. This Paniman Project is expected to commence after the Solaire North in Vertis, Quezon City has started its commercial operations,” the company states.

Razon is also gearing up and restarting the construction for a 40-story integrated gaming and resort facility called Solaire North in Vertis, Quezon City which will be completed by the end of 2022 or early 2023. Together with the newly renovated Solaire Club in Entertainment City in Parañaque, this will expand Bloomberry’s gaming footprint and be ready for the anticipated post-pandemic mass and regional premium mass demand.

For the first quarter, Bloomberry said it had a consolidated net income of P679.4 million which is a significant increase in income from a P780.8-million net loss last year and P1.3-billion net loss in the fourth quarter.

Consolidated net revenue grew 30 percent to P7.26 billion from last year’s P5.52 billion, while total gross gaming revenues (GGR) at Solaire reached P8.9 billion, representing an increase of 30 percent from P6.9 billion last year.

Source: BusinessMirror