Solaire Resort & Casino Is Ready To Take Over The Hotel And Casino Industry

Solaire Resort & CasinoSolaire Resort & Casino, originally known as Solaire Manila, is a resort complex. It includes a five-star hotel with approximately 500 rooms. Solaire was also the first hotel and casino to be established in the Entertainment City (also known as the Bagong Nayong Pilipino – Entertainment City or formerly Manila Bay Tourism City). It was opened in 2013. It was also the tallest structure in the Manila Bay area outside Metro Manila.

Solaire Resort & Casino is the first expansion to break ground in the publicly-owned Entertainment City. The area has 120 hectares and has been named by the Philippine Economic Zone Authority as a special economic zone. Solaire is run by Bloomberry Resorts and Hotels Incorporated. It is a subsidiary of Sureste Properties, Inc., or previously called Bloombury Investments Holdings Inc. “Ports King” Enrique K. Razon Jr. is the chairman of Sureste Properties, Inc. and he is one of the richest Filipinos today, according to Forbes. Razon gave the Solaire project an investment of $1.2 billion.

How Solaire Resort & Casino Was Conceptualized?

pagcorSince the founding of Resorts World Manila in 2009, the Philippine Government wanted to establish more casino-resort complex to boost tourism in the country. In 2009, the Philippine Amusement and Gaming Corporation (PAGCOR) awarded the project to Bloomberry Resorts and Hotels Incorporated. The project was initially called “Solaire Manila” and ground-breaking took place in 2010. In 2012, Solaire Manila was renamed “Solaire Resort & Casino”. Phase 1 was completed the following year, 2013. On March 16, 2013, Philippine President Benigno Aquino III, PAGCOR Chairman Cristino Naguiat, owner Enrique Razon Jr. and former Paranaque Mayor Florencio Bernabe, Jr. were in the inauguration and button pressing ceremony.

The Development Of Solaire Resort & Casino

The Solaire Resort & Casino covered a total of 8.3 hectares. It houses a five-star luxury hotel with 488 rooms and a grand ballroom with 1,000 seating capacity. The complex also has 18,500 square meters of gaming area. The gaming area of the complex has 1,200 slot machines and 300 gaming tables. Solaire Resort & Casino boasts world-class convention facilities, along with entertainment, dining, leisure and retail centers. Also, the Phase 1A construction has begun. It includes the second parking building, a 1800-seating capacity Broadway and a retail space of 60,000 square meters. The project will also add another 308 rooms, restaurants and a night club. It is estimated that the Phase 1A project will be completed by 2014.

All The Casino Fun You Need You Can Get At Solaire Resort & Casino

Solaire Resort & Casino is the first complex to be established in the Entertainment City along the Philippines’ Manila Bay. The First Phase includes nearly 500 luxurious suites, appointed rooms and baysisde villas. Also, it has excellent resort-style pool facilities, and bars and entertainment lounges. Solaire also have a top-of-the-line meeting hub and ballroom, along with a fully equipped spa and fitness center.

Solaire also boasts a world-class dining experience at their signature quick serve restaurants. Solaire has some of the world’s top class chefs to showcase a comprehensive set of skills for customers. They will also provide a great selection of authentic local and international cuisine to cater to every client. Solaire will give customers the Las Vegas experience, which is why they do not have to travel all the way to the US just to enjoy the gambling experience.

Solaire’s 18,500 square meters casino area has two gaming spaces, which include the premium VIP salons along with a casino and entertainment bar with an outdoor theme. Solaire also offers a wide range of casino games and the most popular slot games today like Blackjack, Baccarat, Pontoon plus many more. Since its unveiling, Solaire has become one of the most prominent names in the gambling industry, and it continues to grow in terms of clients and revenues.

The Solaire Incident With Global Gaming Asset Management

In the late part of 2013, Enrique Razon, Jr. kicked out Solaire’s casino operator, the Global Gaming Philippines LLC (GGAM). GGAM is the local unit of the Las Vegas-based management services provider. According to a disclosure by the Bloomberry Resorts Corp. to the Philippine Stock Exchange (PSE), GGAM has not spent a material time in the Solaire management. According to the disclosure, it has also failed to accomplish its obligations under the agreement.

GGAM is a subsidiary of casino operator Global Gaming Asset Management, with has markets in Las Vegas. Bloomberry said that there are existing members of the management team that are capable of supervising Solaire and will continue the effective management of the company without GGAM. Bloomberry replaced Michael French, Solaire’s chief operating officer and the representative of GGAM for the company. On the other hand, GGAM denied the allegations made by the Razon-led Bloomberry.

Under the agreement between Solaire and GGAM, GGAM will provide the planning, technical and the advisory services to the Solaire project throughout its construction until the fit-out phase. Then, it will offer management services to the development of the company when it enters the commercial phase.

The Greatest Achievements Of Metrobank

metrobankMetrobank (also known as Metropolitan Bank and Trust Company) is the Philippine’s second largest bank. It has a wide range of offering related to financial services such as banking and insurance. Metrobank is owned by business tycoon Georgy Ty. Ty is included in Forbes’ list of top 50 richest Filipinos.

How Metrobank Became A Powerhouse In The Banking Business?

George TyIn 1962, Metrobank was founded by a group of businessmen in Binondo. The first branch of the bank was opened in Divisoria, in 1963. In the succeeding four years, Metrobank has established its first provincial branch in Davao. Ty devoted his career to making Metrobank worthy. Every day for 40 years, he starts to work at exactly 8am to set an example for others.

Philippine Savings BankIn the year 1977, the Central bank gave permission to Metrobank to operate a Foreign Currency Deposit Unit (FCDU). Also in the same year, the branches and the offices of the company reached 100, and the bank inaugurated its new Head Office located at the Metrobank Plaza in Makati. Later in 1981, the Central Bank has allowed Metrobank to operate as a universal bank. As Metrobank was granted the universal banking operation, it has entered new ventures. It has acquired the Philippine Savings Bank’s majority ownership. At that time, Philippine Savings Bank was the second largest bank in the Philippines.

In addition, it partnered with the Thomas Cook Group and established a joint travel agency in 1986. Metrobank’s interests have further expanded by partnering with Japan’s Toyota Motor Corporation. Later in 1988, Toyota Motor Philippines was established. Metrobank also entered several joint ventures with different popular organizations like Sumitomo Mitsui Banking Corporation to establish the Sumigin Metro Investment Corporation. It has also entered a partnership with Austrialia’s National Mutual Holdings Ltd. to establish Philippine AXA Life Insurance Corporation.

Subsidiaries And Affiliates Of Metrobank

Metrobank has affiliates and subsidiaries both local and international. Included on this list are:

Local

•    First Metro Investment Corporation
•    First Metro Securities Brokerage Corporation
•    First Metro Travelex
•    Metrobank Card Corporation
•    Orix Metro Leasing and Finance Corporation
•    Philippine AXA Life Insurance Corporation
•    Philippine Charter Insurance Corporation
•    Philippine Savings Bank
•    SMBC Metro Investment Corporation
•    Toyota Cubao
•    Toyota Financial Services Philippines Corporation
•    Toyota Manila Bay Corporation
•    Toyota Motor Philippines Corporation

International

•    First Metro International Investment Corporation Ltd HK
•    MBTC Exchange Service GmbH – Vienna
•    MB Remittance Center HK
•    Metro Remittance Center SA – Spain
•    Metro Remittance (Italia) SpA
•    Metro Remittance Singapore Pte Ltd
•    Metro Remittance (UK) Limited
Metrobank also expanded overseas. In the later part of the 1990,  Metrobank established branches and offices located in Tokyo, Seoul, Taichung and London. Likewise, it was the first bank to be granted the Japanese Ministry of Finance’s banking license. It also became the first Philippine Bank in Korea. In 2001, Metrobank opened its branch in Shanghai, making it the first ever Philippine bank in China. Metrobank inaugurated its completely-run Metropolitan Bank (China) Limited in 2010. It was the first bank headquarters to be put up in Nanjing. This new bank serves as the hub for the operations of Metrobank in China. It has three branches located in Shanghai and Nanjing.

Metrobank established the famous slogan, “You’re in good hands.”

Metrobank’s Top Competitors In The Philippines

Being the second largest bank in the Philippines, Metrobank is always trying to fend off competition in order to maintain its status as one of the country’s largest banks. Its major competitors in the banking world are Banco de Oro (BDO) owned by the Philippines’ richest man, Henry Sy, and the Bank of the Philippine Islands (BPI) owned by the influential Ayala clan. Other competitors include Rizal Commercial Banking Corporation (RCBC) and Philippine National Bank (PNB), owned by business mogul Lucio Tan.

Metrobank always strives to fulfill its vision to become the best bank for its stakeholders ranging from the customers to the society. Metrobank has a strong workforce committed to service excellence, quality of products, firm work ethics and good governance. Metrobank respects the international best practices, alongside meticulous strategic planning. This is to further improve the revenue quality and to increase the shareholder value by consistently reinforcing a strategy geared toward the commitment of its customers and interests.

Metrobank’s Mission Statement For Customers

Metrobank always aims to be the best universal bank, dedicated to the creation and the provision of the best value for their core constituents consisting of their clients, shareholders, employees and the societies whom they serve. They also ought to exert every effort to transform opportunities and expand their business interests into ways to help their constituents know their goals and objectives.

Metrobank recognizes its responsibility to their shareholders and they will exercise careful management to constantly offer them with fair returns and optimize their investment value. They also ought to remain dedicated to making significant contributions for the social as well as the economic development of the societies in which they serve.

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