By Michael Beer of Citigroup
As Bloomberry Resorts‘ new $700m Solaire Resort and Casino nears completion, Manila Bay will finally showcase its potential within the regional gaming arena. Reflecting the heightened enthusiasm around the project launch as well as continued interest in gaming in east Asia, Bloomberry’s shares have risen over 30 per cent in just the past five months. Read more
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The four big casino complexes rising along the scenic Manila Bay in the Philippines haven’t opened their doors yet, four years after the government awarded the exclusive licenses as part of the country’s ambitious plan to cash in on Asia’s gambling and tourism boom.
But that has not stopped Enrique Razon Jr, the 52-year old chief executive of the country’s biggest port operator, from almost doubling his net worth in just a matter of months after a public offering of shares in his Bloomberry Resorts and Hotels, a holder of one of the lucrative, limited-edition permits. Read more