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Bloomberry is planning an expansion of its operations with a second IR Solaire North in Quezon City after Sureste purchased land from the national housing authority in 2015. Excavation work began in July 2019, but was halted due to Covid. Construction work resumed in June 2020 and it is expected to be completed by end 2022 or early 2023. Bay Tower has 488 hotel rooms and suites, 15 restaurants and bars and casino with 1,650 slots and 295 tables and 88 electronic table games.


Travellers International Hotel Group Inc. Te area will include 4,000 residential units which will be developed by Megaworld Corporation.


Macau casino junket boss Alvin Chau, who controls Suncity Group Holdings, is a key backer of the project via Suntrust Home Developers which is 51 per cent owned by Suncity Group Holdings. Westside City Resort and Suntrust Home Developers entered into a co-developer agreement to develop a portion of Westside City.


Te development is set to cost US$700m and the casino should include 400 gaming tables and 1,200 slots across VIP and mass gaming. Any planned development has been halted due to the Covid crisis but is expected to begin anytime soon. Te casino is now expected to open in late 2022 to early 2023.


Te gaming sector in the Philippines recorded overall GGR of P256.4bn last year and a huge percentage (P167.1bn) of this was generated by Entertainment City. For the first six months of 2020 the total industry GGR was P55.3bn of which Entertainment City accounted for P35.7bn


Entertainment City is the huge gaming and entertainment complex developed by PAGCOR on reclamation land in the Manila Bay area.


To date four IR projects have been approved and each has an investment commitment of at least US$1bn. Te Entertainment City resort will have


almost 10,000 hotel rooms to accommodate up to a million tourists annually when fully completed.


Each licensee much construct a minimum of 800 hotel rooms and IR must have a minimum of 250,000sq.m of gross floor area and the gaming area cannot exceed more than 7.5 per cent of the gross floor area. Each should have a thematic attraction and at least 20,000sq.m of retail space.


Te four IRs are the City of Dreams Manila, Solaire Resort and Casino, Okada Manila and Resorts World Manila (although this last property is located near Manila Airport it is considered part of Entertainment City for licensing purposes).


Resorts World Manila was opened by Travellers International Hotel Group back in 2009 and was the first licensed integrated tourism resort located in Newport City in the Manila airport area. Travellers is a joint venture partnership between Alliance Global Group Inc (AGI) and Genting Hong Kong Limited (GHK).


Te resort houses seven hotel brands with 3,400 rooms; a MICE facility through the Marriott Grand Ballroom, the country’s largest ballroom; 1,500 seat performing arts theatre; four screen cinema, mall and various entertainment areas. Te casino is made up of 355 gaming tables and 2,053 slots machines and 100 electronic table


game machines (ETGs). Total revenues for Travellers in 2019 amounted to P28.3bn, a 38 per cent growth on the previous year, of which P27.6bn was GGR divided between P16bn mass gaming and P11.6bn VIP.


RWM reported Q2 2020 gaming revenues of just P565m, a 91 per cent drop from P6.64bn for the same period in 2019. H1 2020 results were P6.1bn (compared to P13.5bn in H1 2019).


Solaire Manila (Bloomberry Corp/BHRI) was the first IR to open back in 2013 and has 800 rooms in the Bay Tower and Sky Tower buildings. Te resort offers a 1,740-seater theatre, retail and dining.


Te group is planning an expansion of its operations with a second IR Solaire North in Quezon City after Sureste purchased land from the national housing authority in 2015. Excavation work began in July 2019 but was halted due to Covid. Construction work resumed in June 2020 and it is expected to be completed by end 2022 or early 2023. Bay Tower has 488 hotel rooms and suites, 15 restaurants and bars and casino with 1,650 slots and 295 tables and 88 electronic table games.


Sky Tower features 312 rooms plus 10 additional VIP gaming salons with 230 slots, 66 tables. In 2018 the Cigar Bar and Poker Room opened, a high-end poker area with eight gaming tables. It was later renamed the Baccarat Room and Bar. In February 2019 Solaire opened the Philippines first electronic table game stadium called Players Stadium with 360sq.m surround screen.


In 2019 GGR in Solaire hit P59.8bn, a 17 per cent growth on the previous year. VIP tables saw a GGR of P26.2bn, slots P16.8bn and mass tables with P16.7bn. Te casino saw 6.6 million visitors during the year. Q2 (ending June 2020) GGR for the Philippine operations was P686.6m compared to P14.6bn for the same period in 2019, a decrease of 95 per cent. Of this P122m was from VIP tables (P6.1bn in Q2 2019); P304m mass table gaming (P4bn in Q2 2019) and P261m from slots (P4.3bn in Q2 2019).


Hotel, food and drinks revenue amounted to P218.8m in Q2 2020, a decrease of 79 per cent from the same period last year.


NEWSWIRE / INTERACTIVE / MARKET DATA P65


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