Billionaire Enrique Razon Jr. is expanding plans for a third Philippine casino following the success of his first two gaming hubs in Manila.

Razon now envisions a 300-hectare casino resort compared to earlier plans of 280 hectares, and his company Bloomberry is in the process of acquiring land, according to Chief Finance Officer Estella Occeña.

Bloomberry’s third Philippine casino will be in Cavite Province south of Manila. The project, which may open in as few as five years but could take as long as 10 years to be fully complete, will be Razon’s biggest gaming property in terms of size and his most ambitious. The tycoon envisions a golf course along with commercial, residential and mixed-used development.

The project’s cost will actually be smaller than what was spent for each of Bloomberry’s first two Philippine casinos, Occeña said in an e-mail to Forbes, although he didn’t give a figure. Bloomberry spent $1.2 billion to build Solaire Resort Entertainment City and 50 billion pesos ($897 million) to develop Solaire Resort North, which opened in June. Both casinos are in Manila.

Construction of the third casino is targeted to commence two years from now as Bloomberry is focusing on building up Solaire Resort North’s business in the next 24 months, Occeña said.

Occeña declined to comment how much of the 300 hectares has been acquired. But sources said Bloomberry has already paid about 4.5 billion pesos since 2022 when it committed to buying 280 hectares of land at 2,700 pesos per square meter from a group of sellers that included hotel operator Boulevard Holdings and developer Puerto Azul.

While Bloomberry has yet to draw up a masterplan, its “development cost will be nowhere near Solaire [Resort] North or Solaire [Resort] Entertainment City, it will be much lower,” Occeña said.

“We will not yet start the development of Cavite,” Occena says. “We are focused on the full ramp up of Solaire North, which may take about 24 months.”

Razon’s $1 billion Solaire Resort North has been on a hot streak since it opened in June and analysts forecast the venture to break even in its first year.

In its first month of operations, Solaire Resort North’s hotel operation was hitting 60% occupancy, Forbes reported in July. The hub’s restaurants were filled even on weekdays.

Besides Bloomberry, Razon is the controlling shareholder of Philippine-listed port giant ICTSI as well as privately held Prime Infrastructure Capital, with its portfolio of water utilities, gas and renewable energy assets. Razon has a net worth of about $12.2 billion, making him the second-richest Philippine tycoon, according to Forbes’ real-time data.