The chairman and chief executive of Philippine casino developer and promoter Bloomberry Resorts Corporation expects operations at Soleir Resorts North, a new casino complex in Quezon City scheduled to open in May, to be "fully strengthened" by 2026.

"After two years it will be fully strengthened," Enrique Rajon (file photo) said at his annual shareholders' meeting on Thursday, as cited by local media.

Bloomberry's first and only real estate in the Philippines so far, Soler Resort & Casino in Manila Entertainment City, opened in 2013. It also operates Jeju Sun Hotel & Casino in Jeju, Korea.

Rajon also reportedly said he would focus on increasing operations at Soler Resort North before launching other projects, including the Phase 2 project at Soler Resort & Casino and the planned casino project at the coastal community of Paniman in Cabité, about 66 kilometers (41 miles) southwest of Metro Manila.

"There is no specific timeline. It all depends on how the market develops over the next few years," he was quoted as saying.

"If Solare North fully expands and both properties generate expectations for cash flow, we'll probably start the Paniman project," Rajon said, as quoted by Business Mirror media.

"The next few years will be a compelling case for growth," he added. "The government expects the Philippine economy, where we generate most of our revenue and profitability, to grow 6-7% in 2024 and 6.5-7.5% in 2025."

In March, Bloomberry confirmed its May opening schedule, describing Soler Resort North as a $1 billion plan covering 1.5 hectares (3.7 acres) and "standing on the 38th floor."

"We will have 163 tables across 526 luxurious rooms and suites, 2,669 electronic game consoles and four casino floors," Soler Resort North said 홀짜게임