According to a Philippine Stock Exchange filing on Tuesday, Solaire de Argentina SA has recruited Oscar Alberto Ghezzi to head up an effort to explore the possibility of establishing an integrated resort-casino in Argentina. Bloomberry Resorts Corp. created the subsidiary and Ghezzi, head of Federacion Empresaria Hotelera Gastronomica de la Republica Argentina, has been appointed president.
According to Filipino billionaire and Bloomberry Resorts chairman Enrique Razon Jr., the Latin America proposal that follows his South Korean casino venture is pending evaluation by regulators and government agencies in Argentina. While regulatory approval for the integrated resort-casino has yet to be secured, a website, www.solairedeargentina.com, has already been created. The company has yet to disclose the proposed resort site which is located somewhere in the capitol city of Buenos Aires. Argentina is thought to be the leading casino gaming market in the region with 79 establishments in South America but only two in Buenos Aires currently.
Looking to expand its business overseas, the Philippine casino operator is slated to open its first overseas casino on Jeju Island, Korea. The venture will re-open Jeju Sun Hotel & Casino this month as part of phase one of a multi-stage refurbishment plan that began in May and is estimated to be completed by December. Bloomberry owns 96.23 percent of Jeju Sun, including 86.23 percent held through subsidiary Solaire Korea Co. Ltd.
Taiwan and Japan are also being considered by Razon as locations for possible integrated resorts, when and if gambling is legalized. Razon said, “Bloomberry is upbeat about the gaming market not only in the Philippines but also in Asia as more governments take a closer look into the economic potential of the integrated resort and gaming business,” Mr. Razon said in a speech delivered to shareholders in June.