Solaire Resort reports record gaming revenue

Solaire Resort has reported gross gaming revenue of PHP6.8bn (US$123.57m) for January.

The Philippines.- Solaire Resort hit a milestone in January, achieving record GGR of PHP6.8bn (US$123.57m) in what was the resort’s 10th anniversary. The result follows Bloomberry Resorts’ return to profitability in the fourth quarter of 2022. Profits of PHP5.1bn (US$92.28m) were driven by an 84 per cent year-on-year rise in gaming revenue at Solaire Resort (PHP14.7bn).

The strong January results came from the local market and Korean players based in the Philippines, as the resort had not yet attracted a significant number of mainland Chinese gamblers and junket operations, with China only reopening travel on January 8. The result points towards a positive first quarter and a good start for the opening of Solaire Resort North in the first quarter of next year. 

Last July, Enrique Razon Jr said that the Solaire North IR could potentially open in the fourth quarter of 2023. However, during the presentation of the financial results for the year 2022, Razon Jr said that the IR in Quezon City will open next year.

To celebrate its 10th anniversary this year, the resort has planned a series of celebratory activities, including a Sting concert, an artist residency and special restaurant menus. GGR for Solaire Resort was PHP50.12bn (US$905.17m) in 2022, up 81 per cent from PHP27.6bn in 2021.