Bloomberry Resorts Corp., the Philippines' major gaming operator, recently announced plans to launch its Solaire Resort North casino complex by May 25.

Located in Quezon City, this US$1 billion project aims to solidify Solaire’s position as a premier luxury entertainment destination. The company said the resort aims to provide a more premium experience for visitors from the metropolitan north.

Speaking at Thursday's shareholder meeting, Bloomberry Chairman Enrique Razon said it expects to take at least a year to achieve initial growth, with full growth planned for the second year. It is therefore expected that the resort will be fully operational by the end of the biennium.

Larson added: “We are currently conducting mock operations to ensure that every aspect of the hotel – from interior décor to gaming equipment and service – is of the highest quality level. North Morning Resort will introduce our signature five-star gaming Leisure and entertainment brands will further enhance the position of the Philippine gaming industry in regional competition.”

Razon reportedly mentioned that their triple offering, including Solaire at Casino, Solaire Resort North and Solaire Online, puts Bloomberry ahead of the competition and allows them to capitalize on the growing gaming in the Philippines and Asia Pacific. entertainment needs.

Solaire Resort North, covering an area of 1.5 hectares, will be the only luxury resort in Quezon City offering five-star facilities. The hotel has 526 guest rooms and suites, as well as 2,669 electronic gaming machines and 163 gaming tables spread across four casino floors.

According to the company's latest financial results, Bloomberry reported consolidated net profit of 9.5 billion pesos ($170 million) in 2023, an increase of 85% from 2022. Solaire's gross gaming revenue (GGR) was 58.3 billion pesos ($1.03 billion), a 16% increase from 2022's 50.1 billion pesos ($89 million).

At the same shareholder meeting, Razon also emphasized that the company’s performance will benefit from further growth in the Philippine economy as the company’s revenue mainly comes from the domestic market.

"With the World Tourism Organization predicting that Asia-Pacific tourism will accelerate its recovery to pre-pandemic levels in 2024, we also expect to benefit from an increase in inbound tourist arrivals," Larson added.