Solaire Resort North, the new integrated resort scheduled to open its doors on 25 May according to local media reports, should be fully ramped within two years, according to Enrique Razon Jr – Chairman and CEO of the property’s owner, Bloomberry Resorts Corp.
Razon was speaking at Bloomberry’s annual stockholders meeting late last week with the highly anticipated resort in Quezon City, to the north of Metro Manila, representing the company’s second IR after Solaire Resort Entertainment City.
“It will take at least a year to ramp it up and probably for full ramp up sometime within the second year,” said Razon, as quoted by multiple local media outlets. “So, at the end of two years it should be fully ramped up.
“Solaire Resort North will introduce our signature five-star brand of gaming leisure entertainment to a broader market within the country and elevate the regional competitiveness of the Philippine gaming industry.”
Covering 1.3 hectares of land in Quezon City, Solaire Resort North will introduce 526 guest rooms and suites plus a casino with 2,669 electronic gaming machines and 163 tables and various non-gaming attractions.
It is expected to build on Solaire Resort Entertainment City’s market-leading position, however Razon said the company would not begin development of a third IR planned for Cavite in Manila’s south until the Quezon City IR is fully ramped.
“Once Solaire North is fully ramped up and most properties are fully generating a certain expectation that we have on cash flow, once that expectation is reached or met, then we will probably launch the [Cavite] project,” he said.
“The focus now will be on ramping up Solaire North first before we start any new projects.”
Razon added that the addition of Solaire Resort North, along with its recently launched remote gaming offering, places Bloomberry “in a very strong position to take advantage of increasing demand for gaming entertainment in the Philippines and within the Asia-Pacific region.”
Inside Asian Gaming announced last week that its annual Asian Gaming Power 50 Black Tie Gala Dinner would be held at Solaire Resort North on 8 November this year.
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