Active Alliance Inc. (AAI) is in talks with state-run Philippine Amusement and Gaming Corp. (Pagcor) to lease additional land for its hotel project within a planned casino-entertainment complex in the Manila Bay area.
“Additional lease of adjacent land is being negotiated with Pagcor to allow for the expansion of hotel space that Pagcor now requires for the project,” AAI said in a disclosure to the Philippine Stock Exchange.

Pagcor has required major investors in its proposed Entertainment City project to put up a sizeable hotel as a prerequisite before they can commence their gaming operations.

Called Solaire Manila, Razon’s $1-billion world-class and five-star casino project is being constructed on 83,084 square meters of reclaimed land leased from Pagcor.

The first phase of the project is a 14-storey building complex with an 11-storey hotel on top of a three-level podium, and a 10-storey parking building with an 11th floor for machines and equipment.

About 73,484 square meters has been allotted for hotel, restaurants, retail, recreation and back-of-house facilities, while casino and gaming area will occupy approximately 22,268 square meters.

The first phase of the development is targeted to be completed before the end of the year. As of the second week of February, construction has reached the 12th floor.

AAI, which is set to be renamed Bloomberry Resorts Corp., recently formalized the acquisition of the hotel and casino business of ports magnate Enrique Razon, setting the stage for its backdoor listing in the local bourse.

AAI purchased 100 percent of Sureste Properties Inc. from its major shareholder Prime Metroline Corp. for P5.867 billion. PMTC owns Sureste Properties Inc., which in turn owns Bloomberry Resorts and Hotels Inc. Sureste owns the hotel project while Bloomberry owns the casino project being constructed at the Pagcor City in Manila.

“AAI will now actively pursue the hotel casino business at the Entertainment City Manila through its wholly owned subsidiary, Sureste and its wholly owned subsidiary, Bloomberry,” the company said.

Bloomberry is one of four groups that have been granted licenses to build hotels and casinos in the area.

The three other licensees are Belle Corp. of the Sy family; Travellers International Hotel Group Inc., a joint venture between Alliance Global Group Inc. and Genting Hong Kong; and Universal Entertainment.

Trading of AAI shares will resume Tuesday following the company’s submission of its comprehensive corporate disclosure on the backdoor listing of Razon’s hotel and casino business.

Its shares were last traded at P49.50 each on February 6.