Bloomberry bought the site where the property will be located from the Philippine National Housing Authority in 2015. The resort will be developed at Vertis North Complex in Quezon City. The company targets 2022 opening of the hotel, casino, and entertainment complex. Now, as Bloomberry has secured financing for its new property, it will be looking to commence construction by mid-2019. The bank will thus co-finance 28.7% of the total allocation for the previously announced PHP40 billion loan syndication. PNB revealed that it has signed an omnibus loan and security agreement with the company’s subsidiaries Bloomberry Resorts and Hotels Inc. It was the first of four integrated resorts approved to be developed within Entertainment City, a larger development project in the capital Manila spearheaded by the Philippine government that aims to enhance the nation’s tourism product and increase international visits.īloomberry is now looking to expand the Solaire brand with a casino resort in Quezon City. The $1.2 billion hotel and casino resort swung its doors open in 2013. The property will be the first of its kind in the Northern Metro Manila region.īloomberry currently operates Solaire Resort & Casino. $767 million) to fund the development of an integrated resort in Quezon City. News about PNB extending a loan to the Philippine hotel and casino operator emerge shortly after Bloomberry confirmed that it has secured a PHP40 billion loan (approx. Bloomberry will use the loan to partially fund the construction of its second Solaire-branded casino resort. $219.7 million) loan to gambling and hospitality company Bloomberry Resorts Corp., local newspaper The Philippine Star reports. The Philippine National Bank (PNB) has extended a PHP11.5 billion (approx.

The Philippine National Bank has become one of the lenders supporting Bloomberry in its bid to build a second Solaire casino resort

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