Hindi na ampaw! Ricky Razon buys Puerto Azul property from Panlilio in P7.5B deal, plans third casino resort

Ricky Razon

Ultra bilyonaryo Enrique K. Razon-led Bloomberry Resorts Corp. has inked an agreement with businessman Jocel Panlilio to acquire 280 hectares in the Puerto Azul Paniman area in Ternate, Cavite for P7.55 billion.
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Bloomberry, through a newly incorporated subsidiary Solaire Entertainment Property Holdings (SEPH), will acquire “titled and cleared” parcels of land from Boulevard Holdings, Puerto Azul Land, Ternate Development Corp. and Monte Sol Development Corp. at an average price of P2,700 per square meter.
The property will be transformed into an integrated resort and entertainment complex with a world class casino, hotel, golf course, commercial, residential and mixed used development.
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Bloomberry said construction of the project will start after its second casino, Solaire North in Vertis, Quezon City, has started its commercial operations.
Razon plans to open Solaire North next year, hoping to capitalize on the recovery of the gaming business from pandemic lows.
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The Puerto Azul transaction follows the deal entered into by Bloomberry with Davao-based businessman Dennis Uy’s casino resorts in Cebu and the former Clark Airbase in Pampanga.
The two resorts are the Emerald Bay Resort Hotel and Casino in Punta Engano, Lapu-Lapu City, Cebu and the Base Resort Hotel and Casino in Clark, Pampanga.
Targeted for opening in 2026, Emerald Bay will rise on a 12.4 hectare beachfront property which will offer 146 gaming tables, 729 gaming machines as well as hotel rooms.

https://bilyonaryo.com/2022/05/19/hindi-na-ampaw-ricky-razon-buys-puerto-azul-property-from-panlilio-in-p7-5b-deal-plans-third-casino-resort/business/