{"id":29766,"date":"2022-05-11T07:58:36","date_gmt":"2022-05-11T10:58:36","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=29766"},"modified":"2026-04-23T08:48:57","modified_gmt":"2026-04-23T11:48:57","slug":"bloomberry-signs-non-binding-agreement-with-ph-travel-and-leisure-corp","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bloomberry-signs-non-binding-agreement-with-ph-travel-and-leisure-corp","title":{"rendered":"Bloomberry signs non-binding agreement with PH Travel and Leisure Corp"},"content":{"rendered":"\n

Bloomberry Resorts Corporation has signed a term sheet with PH Travel and Leisure Corp for proposed investment in Lapulapu Leisure Inc.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0Bloomberry Resorts Corporation\u00a0has announced it has signed a non-binding agreement (term sheet) with PH Travel and Leisure Corp. (PHT). It plans to invest in Lapulapu Leisure<\/strong>,\u00a0which is developing the Emerald Bay Resort Hotel and Casino in Punta Engano, Lapu-Lapu City, Cebu, and Clark Grand Leisure Corp, which is developing The Base Resort Hotel and Casino in Clark in Pampanga.\u00a0<\/p>\n\n\n\n

According to Bloomberry, the term sheet is subject to several conditions including the execution of mutually acceptable definitive agreements, the approval of regulators and creditors, the completion of audited financial statements, corporate approvals, and cooperation on due diligence, among others.<\/p>\n\n\n\n

Last October, PH Resorts\u00a0pushed back the launch date\u00a0<\/strong>for Emerald Bay, mainly due to the Covid-19 pandemic. It now hopes to launch the first phase of the IR by the\u00a0first quarter of 2023<\/a>\u00a0instead of the third quarter of 2022.<\/p>\n\n\n\n

Delivering Bloomberry\u2019s annual report, CEO\u00a0Enrique Razon Jr<\/strong> said the company\u2019s Solaire North integrated resort development in Quezon City remains on track to open in the second half of 2023. Razon said\u00a0he has high hopes for the company\u2019s online gaming business<\/strong>\u00a0and expects revenue to continue to grow as the company expands.<\/p>\n\n\n\n

In its fourth-quarter results released in March, Bloomberry Resorts<\/a> reported a total GGR of PHP27.6bn (US$527.2m) for Solaire in 2021, an increase of 21.7 per cent from 2020. The company posted a net loss of PHP4.2bn for the full year<\/strong>, an improvement from a PHP8.3bn loss in 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bloomberry Resorts Corporation has signed a term sheet with PH Travel and Leisure Corp for proposed investment in Lapulapu Leisure Inc.<\/p>\n","protected":false},"author":176,"featured_media":29796,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Bloomberry Resorts Corporation has signed a non-binding term sheet with PH Travel and Leisure Corp to invest in Lapulapu Leisure Inc. and Clark Grand Leisure Corp, developers of the Emerald Bay and The Base integrated resorts in the Philippines. This strategic move, subject to regulatory and creditor approvals, signals Bloomberry's expansion while its Solaire North IR and online gaming business also show growth potential.","focusai_entities":"Bloomberry Resorts Corporation, PH Travel and Leisure Corp, Lapulapu Leisure Inc., Clark Grand Leisure Corp, Emerald Bay Resort Hotel and Casino, The Base Resort Hotel and Casino, Enrique Razon Jr.","focusai_location":"Philippines, Lapu-Lapu City, Cebu, Clark, Pampanga, Quezon City","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Approval Impact","query":"What specific regulatory hurdles and conditions precedent must Bloomberry Resorts Corporation satisfy to secure approval for this investment, and what is the projected timeline for such clearances?"},{"label":"Strategic Rationale & Synergies","query":"Beyond market expansion, what are the strategic synergies Bloomberry anticipates from integrating Lapulapu Leisure Inc. and Clark Grand Leisure Corp's assets into its existing portfolio, particularly concerning operational efficiencies and cross-selling opportunities?"}],"footnotes":""},"categories":[157,158,16333],"tags":[413],"class_list":["post-29766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-bloomberry"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=29766"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29766\/revisions"}],"predecessor-version":[{"id":29787,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29766\/revisions\/29787"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/29796"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=29766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}