Bloomberry subsidiary bids for casino land

Two parcels of land where the Solaire Resort and Casino is located have received a bid from a Bloomberry Resorts subsidiary.

Philippines.- Bloomberry Resorts released a filing in which it revealed that its subsidiary Sureste Properties Inc. has submitted a bid to acquire two parcels of land of the Solaire Resort and Casino in Manila. The company is already a lessee of the land but is set to purchase it, according to the document introduced on Friday.

“Sureste Properties Inc, a wholly owned subsidiary of Bloomberry Resorts Corp, submitted today a bid to purchase the 16 hectares of land in Entertainment City where Solaire Resort and Casino and its expansion area is located,” said Bloomberry.

This is the second auction that the Philippine Amusement and Gaming Corp (Pagcor) has launched after conducting a failed one in November as “no bidder submitted a bid,” according to Bloomberry. This time it seems it will finally sell the land, although the outcome of the auction has yet to be announced.

Furthermore, if the auction fails again, Bloomberry Resorts said that Sureste Properties also submitted to Pagcor an offer to purchase the land in question by negotiated sale.