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Bloomberry completes Solaire land purchase for P37.3b

Bloomberry Resorts Corp said it has completed the acquisition of the land plots on which its Solaire Resort & Casino is situated for P37.33 billion ($709.6 million).

The company said its Sureste Properties unit has fully paid the price to the Philippine Amusement and Gaming Corp and signed the deed.

The land includes two parcels in Entertainment City with an area of 3,733 sq. meters and 156,626 sq. meters respectively.

PAGCOR put the land up for auction in January, though failed to attract sufficient bidders under the law. This allowed it to negotiate the sale directly with Sureste.

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