Solaire North is top priority of Bloomberry, says Razon

BLOOMBERRY Resorts Corp. said ursday it will focus on ramping up the operations of its Solaire North Resort in Quezon City before pursuing other projects.

Billionaire Enrique K. Razon Jr., chairman and CEO of Bloomberry, also said it would take a year before Solaire North could ramp up its operations.

“And probably full ramp up sometime within the second year. So then, in two years, it (operations) should be fully ramped up,” Razon said during the company’s stockholders’ meeting.

He said the company wants to focus on Solaire North before turning its attention to its expansion plans, such as the second phase of Solaire Resort and Casino in Entertainment City in Parañaque and its huge property in Paniman beach in Puerto Azul in Ternate, Cavite.

“There’s no specific timeline (for Solaire’s second phase expansion). All depends on how the market goes over the next several years. But the focus now will be on ramping up of Solaire North first before we start any new projects,” Razon said.

“Once Solaire North is fully ramped up, and both properties (Solaire and Solaire North) are generating a certain expectation that we have on cash flow… once that expectation is reached or met, then we will probably launch the Paniman project.”

Razon also said Solaire’s operations are back in full swing.

“Apart from further ramping up gaming operations from 2022, activity in our resort businesses has picked up significantly. Occupancy at the Bay and Sky Towers reached 79.8 percent, a new F&B [food and beverage] concept and more retail outlets were rolled out at the Shoppes, and the new Solaire Grand Ballroom was opened.”

Meanwhile, the $1-billion Solaire Resort North, the first of its kind in Quezon City, will open in late May, according to the company.

The new Quezon City gambling facility stands at 38 floors, offering a view of the urban landscape and the metropolis.

“From a decade ago when we opened Solaire Resort Entertainment City, it has always been our mission to provide a fresh yet indulgent brand of luxury that has not been experienced in the Philippines before,” Razon said.

He said Bloomberry’s investment in Quezon City has created 4,200 direct employment opportunities.

“With Solaire Resort North, we uphold the same mission in the hope that the property’ presence and operation will support Quezon City’s endeavors to enhance and promote tourism, generate employment for Filipinos, and further attract opportunities for economic and social investments. At the same time, we anticipate that our presence in Quezon City will positively impact our growth, widen our market footprint, and reinforce our brand’s strength.”

The facility is the only luxury resort with five-star facilities and amenities in Quezon City. It will have 526 guest rooms and suites, 2,669 electronic gaming machines and 163 tables across four casino levels.