Bloomberry Resorts and Hotels Inc (BHRI) has obtained a license from the Philippine Amusement and Gaming Corp (Pagcor) to operate a casino at the 90-hectare Entertainment City complex near Manila Bay, the company said on Thursday.
It said in a disclosure to the Philippine Stock Exchange Pagcor approved its application to operate the Solaire Resort & Casino, an integrated casino, resorts and entertainment complex.
BHRI received the notice from Pagcor on Thursday, the company said in its disclosure.
BHRI is a subsidiary of Bloomberry Resorts Corp owned by ports magnate Enrique Razon, who also owns International Container Terminal Services Inc.
BHRI applied for the issuance of a regular casino gaming license with Pagcor last April 22 after the group opened the integrated casino, resorts and entertainment complex in March 2013.
It was the second gaming license issued by Pagcor after it approved the application of Melco Crown Resorts Corp to operate its City of Dreams—Manila.
Two other integrated casino applications are awaiting approval: The Manila Bay Resorts of Tiger Resorts & Entertainment Inc. (subsidiary of Japan-based Universal Entertainment Corp.), and the Resorts World Bayshore of Travellers International Hotel Group Inc. (joint venture of Andrew Tan-led Alliance Global Group Inc. and Genting Hong Kong Ltd.).
Bloomberry is also working to present a master plan of its $1-billion Solaire project in South Korea as part of its application for a gaming license.
Solaire Korea will be an interconnected gaming resort complex in the 20.96-hectare Silmi Island adjacent to the 12.2-hectare Muui Island.
Last year, Bloomberry booked P4.07 billion net income which is nearly double the P24.03 billion recorded in 2013 mostly on strong sales in gaming, hotel and food and beverages, retail, and interest income, among others.
Bloomberry was incorporated in 1999. It is engaged in development and operations of integrated resorts, casino, entertainment and tourism complex known as Solaire Resort & Casino.