MANILA, Philippines - Bloomberry Resorts Corp., the owner of the $1.2-billion Solaire Resort and Casino along Manila Bay, expects the completion of a P21-billion expansion next year will draw more Asian tourists and high rollers.
Michael French, chief operating officer of Solaire, said majority of the company’s revenues currently come from the local market.
“Our goal is to switch that over time to more international, which is the whole idea of the Entertainment City, that is to bring in foreigners,†he said.
Solaire, which started commercial operations last March, has so far attracted one million visitors.
“Since opening day, the group immediately began generating revenues from Solaire’s gaming, hotel and food and beverage, and this has been rising steadily even as I speak,†said Bloomberry chairman Enrique Razon Jr.
Visitors hit 10,000 to 12,000 on a weekday, which peaks at 15,000 to 16,000 on a weekend, he said.
French said 2014 will be a stabilizing and building year, with more foreign guests expected to hit the gaming tables.
Razon said Phase 1-A expansion is 40-percent complete, with construction cost estimated to reach P7.8 billion by end-2013.
“We hope to inaugurate Phase 1-A in the third quarter of 2014. Total estimated cost for Phase 1-A is P20.5 billion,†he said.
Phase 1-A will allow Solaire to offer a 300-all-suite hotel, 3,900 parking slots, a shopping center with luxury brand stores and an entertainment theater.
Solaire will continue to cater to Asian gamers, officials said.
Razon said the company is focusing on attracting more Asian high rollers, which has been patronizing Solaire.
“The players are all Asian. It’s all about China and Southeast Asia and Taiwan and that is our market,†French said.
For this year, Bloomberry will spend $15 million for additional transportation equipment for hotel operations, security enhancements, additional slot machines, and other cage and engineering modifications.