Bloomberry submits bid to purchase Solaire land plots

Bloomberry Resorts Corporation has submitted a bid to purchase 16 hectares of land where Solaire Resort & Casino and its expansion area is located.

In a filing to the Philippine Stock Exchange on Friday, Bloomberry said that the bid was submitted by its wholly-owned subsidiary, Sureste Properties Inc (SPI), which is the lessee of the land.

According to the filing, Sureste also submitted an offer to PAGCOR to purchase the subject land by negotiated sale, in the event the bid fails.

Earlier this month, PAGCOR launched its second auction for the land after the first invitation for bidding failed to garner any submissions. 

The two plots of land total 160,359 sqm, with minimum floor price for the land set at P37.2 billion (US$738 million).