Bloomberry Resorts has put back the opening date for its Philippines IR to 2023 after construction was halted due to Covid-19 measures.
The Philippines.- Bloomberry Resorts has confirmed that its Solaire North IR project, which was originally scheduled for completion by 2022, will now not open until 2023.
The Solaire North IR project in Quezon City will be Bloomberry’s second IR in the Philippines, after Solaire Resort and Casino in Parañaque City. The project has faced delays in construction because of the Covid-19 pandemic.
Enrique Razon Jr., chief executive officer (CEO) of Bloomberry Resorts, said the IR will be finished in time for a potentially strong economic recovery on the return of international travel and tourism.
He said: “The further easing of quarantine restrictions and the implementation of travel bubbles within the region will be indispensable to our near- term recovery.”
In March, Bloomberry saw a notable improvement in operating revenue for the fourth quarter of 2020 with an adjusted property EBITDA of PHP129.3bn.
The company also reported full-year net revenue of PHP17.8bn, down 62 per cent year-on-year.
Solaire Resort and Casino remains closed until further notice
Solaire Resort and Casino remains closed in compliance with the enhanced community quarantine measures implemented by the government.
The Philippines’ president Rodrigo Duterte has placed Metro Manila under Modified Enhanced Community Quarantine (MECQ) until April 30.