Philippines casino operator Bloomberry Resorts Corp says it is hoping to complete the cost plan for Quezon City integrated resort Solaire North by mid-May, but a proposed June groundbreaking remains subject to the granting of all regulatory approvals.
The update, filed on Monday, follows comments by Chairman and CEO Enrique Razon Jr last week stating the company was on track break ground before 3Q19.
Aside from the need to complete the cost plan for the project, which it is “currently working on”, Bloomberry added that “the ground breaking and construction of Solaire North are subject to the securing of relevant permits before any construction can begin.
“The company, through its subsidiaries Bloomberry Resorts and Hotels, Inc. (BRHI) and Sureste Properties Inc (SPI), will proceed with the project once such permits have been secured.”
Bloomberry said it was also awaiting the relevant regulatory approvals to begin construction of a US$308 million cruise ship port near its original Solaire Resort & Casino in Parañaque City. Phase 1 of the port, which Bloomberry hopes to have operational by 2021, will take 18 to 24 months to complete from the start of construction, the company said.