Philippines

Bloomberry Resorts would see its debt levels rise and a reduction in return on invested capital in the short term if it buys the land on which its Solaire Resort & Casino is based, though longer term it may improve valuations, according to Morgan Stanley.

The owners of Resorts World Manila is planning to introduce the country’s first Ritz Carlton Hotel by redeveloping its Maxims Hotel, local media reports.

According to sources, real-estate mogul Andrew Tan, chairman and CEO of Alliance Global, the company that partially owns Travellers International Hotel Group, deemed it to be the right time for the luxury hotel brand to enter the market as a result of the country’s improving economic status.

Sources say the rebranding will happen sometime within the next three years.

The Asian Poker Tour (APT) has announced it has signed a new three-year exclusive agreement to run its tournaments at Resorts World Manila.

APT and Resorts World Manila’s partnership first dates back to 2010. Since that time, APT has held 18 international poker events at RWM including the monumental APT-RWM Iron Man Poker Challenge back in 2013.

Earlier this year, RWM hosted APT’s biggest event to-date, the APT Championships 2017 Philippines, which ran for 12 days and attracted 733 players representing 36 nationalities.

The Philippine Amusement and Gaming Corporation (PAGCOR) is launching an auction for two parcels of land currently occupied by Bloomberry’s Solaire Resort and Casino.

Philippines-listed Travellers International, operator of Resorts World Manila, reported a loss of P407.9 million for the third quarter of 2017.

Bloomberry Resorts Corporation (BLOOM PM), owner and operator of the Solaire Resort & Casino and Jeju Sun Hotel & Casino, posted record Q3 mass table drop and gross gambling revenue from electronic gaming machines, while VIP volumes slipped.

Offshore gambling operators made up of 25 percent of all office leasing transactions in the nine months to September 2017, according to a report from Colliers International.

Universal Entertainment Corp has announced its plans to start operating its all-weather beach club, nightclub and space, Cove Manila, starting in December.

81 Chinese nationals were arrested on Tuesday for their alleged involvement in illegal gambling operations.

The Caraga police has intensified its campaign against illegal gambling in the region, with anti-gambling operations up 125 percent year-on-year.

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