Bloomberry’s Solaire North IR to open in late May
Bloomberry Resorts’ president and chief operating officer says the company is preparing for the opening of its second integrated resort
The Philippines.- Bloomberry Resorts expects to open Solaire Resort North in Quezon City in late May. President and COO Thomas Arasi confirmed the plan at the ASEAN Gaming Summit,
Analysts at Morgan Stanley Asia have said the integrated resort is expected to have 150 mass tables and 2,500 slot machines in the first half of 2024, improving Bloomberry’s market presence and revenue potential. The US$1bn development will have a hotel, gaming, restaurants and bars, meeting facilities and retail spaces like Solaire Resort & Casino in Entertainment City. .
For full year 2023, Bloomberry reported net income of PHP9.5bn (US$170m), up 85 per cent year-on-year. Consolidated net revenue was PHP48.4bn (US$864m), up 24 per cent while consolidated EBITDA reached PHP19.3bn (US$345m), up 35 per cent. Consolidated net income was PHP9.5bn (US$170m), up 85 per cent.
Gross gaming revenue (GGR) at Solaire Resort and Casino in the Metro Manila region was PHP58.3bn (US$1.03bn), up 16 per cent from 2022 and 97 per cent of the 2019 level. GGR was driven by domestic-focused mass tables and electronic gaming machines, which on a combined basis, reached 116 per cent of pre-pandemic levels.
