Philippine-listed casino operator Bloomberry Resorts Corp. bagged two parcels of Philippine Amusement and Gaming Corporation (PAGCOR) land where integrated resort Solaire Resort and Casino has been standing.

In a disclosure to the Philippine Stock Exchange, Bloomberry announced that it won the bidding for the 16-hectare lot after pitching PHP37.33 billion ($714 million) for the twin properties within PAGCOR Entertainment City.

Sureste Properties Inc. (SPI), a wholly-owned unit of Bloomberry, accepted the notice of award from PAGCOR after the latest bidding. Bloomberry said SPI has plans to complete the transaction, sign the Deed of Absolute Sale and pay the balance of the purchase price within 45 days.

PAGCOR has been wanting to privatize two Entertainment City lots with a combined area of 160,359 square meters (1.73 million square feet) since in 2017. The starting bidding price for the twin lots is PHP37.23 billion (US$726.6 million), to be paid in cash.