In the Philippines, civic leaders in Quezon City are reportedly still discussing the merits of an application from Bloomberry Resorts Corporation that would allow the firm to bring a new integrated casino resort to the community’s under-construction Ayala Malls Vertis North retail complex.
According to a Friday report from GGRAsia citing an earlier story from the Philippine Daily Inquirer newspaper, the 111.1-acre Ayala Malls Vertis North development is due to be completed in 2022 and Bloomberry Resorts Corporation would like the scheme to eventually feature a Solaire-branded gambling venue aimed at mass-market players from the northern suburbs of metropolitan Manila.
Joy Belmonte, Vice-Mayor for Quezon City, told the newspaper that officials were currently formulating regulations for the envisioned integrated casino resort, which is a process that had so far incurred very little criticism from the local leadership of the Catholic Church.
Belmonte told the newspaper…
“I understand the benefits economically. We talked with some councilors and we came up with a gambling regulatory ordinance in Quezon City.”
Bloomberry Resorts Corp is already responsible via its Bloomberry Resorts and Hotels Incorporated subsidiary for the Philippines’ Solaire Resort and Casino and earlier declared that its planned Quezon City facility is due to occupy some 3.7 acres of land in order to offer range of amenities such as a casino, restaurants and multiple meeting facilities.
Enrique Razon (pictured), Chairman and Chief Executive Officer for Bloomberry, used his firm’s most recent annual financial results to detail that the casino operator is hoping to break ground on its planned Quezon City facility ‘this year.’ This revelation purportedly came a month after the Manila-listed enterprise had managed to secure loans worth around $765.7 million that it subsequently proclaimed would be utilized ‘to partially finance the design, construction and development of an integrated hotel and gaming resort’ in Quezon City.