Bloomberry unit wins bid for Solaire land plots

Philippine casino operator Bloomberry Resorts Corp. on Friday announced it had won the bid for a 16-hectare plot of land in Entertainment City.

The land plot is the location for Bloomberry’s Solaire Resort & Casino, which was put up for sale by Pagcor earlier this year.

According to a filing from the operator to the Philippine Stock Exchange, Bloomberry paid P37.3 billion (US$723.4 million) for the lot, P100 million more than the floor price set by Pagcor earlier this year.

Bloomberry was the sole offerer for the property after two failed biddings.

The company says it expects to complete the transaction, sign the deed of absolute sale and pay the balance of the purchase price within 45 days.