Now it's flying. The 40% of my portfolio sleeping in BLOOM for more than a year now is waking up and roaring like a Dragon. Just break the 13 pesos and climbing. I like BLOOM for the reason that I don't gamble in the true sense of the word. I don't lose but those patrons definitely will - reality is, I am not happy with it but in trading unlike gambling you don't trade based on emotion. If you lose, get over it and carry on.
Second phase makes Solaire more profitable. I like the fact that Razon is taking care of Solaire personally. He was able to make Solaire one of the best entertainment city in Manila if not in Asia. It is already making money for him - a dividend would definitely follow soon. I just need to hold a little longer. I know it will earn me a good return of investment and help me live a comfortable life after I retire from my work - ah, what a dream.
From Interaksyon.com:
In its 2013 annual report handed out to shareholders, Bloomberry president Thomas Arasi was quoted as saying that the Phase 2 expansion of Solaire will add three new hotel towers with 1,500 rooms, an events arena capable of accommodating up to 15,000 people, approximately 100,000 square meters of additional meetings, incentives, conferences and exhibitions (MICE) and retail space, and approximately 35 new food and beverage outlets.
The expansion will also increase the total number of table games to approximately 650 and electronic gaming machines to approximately 3,000. Upon completion of Phase 1A, Solaire will have 360 gaming tables and 1,711 electronic gaming machines.
All of these things will be in place before year ends which will help Solaire boost its profit. Hold longer but do not fall in love with this stock.
BLOOM at 13.70!
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