{"id":777013688,"date":"2024-03-05T08:25:38","date_gmt":"2024-03-05T11:25:38","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777013688"},"modified":"2026-04-22T12:22:21","modified_gmt":"2026-04-22T15:22:21","slug":"bloomberry-resorts-posts-net-income-of-us170m-for-2023","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bloomberry-resorts-posts-net-income-of-us170m-for-2023","title":{"rendered":"Bloomberry Resorts posts net income of US$170m for 2023"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Consolidated net income was PHP9.5bn (US$170m).<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">The Philippines.- Casino operator<strong>\u00a0Bloomberry\u00a0<\/strong>has shared its\u00a0<strong>financial results\u00a0<\/strong>for the year 2023. It reported net income of PHP9.5bn (US$170m), up 85 per cent\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/bloomberry-resorts-posts-net-income-of-us93-6m-for-2022\" target=\"_blank\" rel=\"noreferrer noopener\">year-on-year<\/a>. 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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Gross gaming revenue (GGR) at Solaire Resort and Casino\u00a0in the Metro Manila region was PHP58.3bn (US$1.03bn), up 16 per cent from 2022 and<strong> 97 per cent of the 2019 level<\/strong>. 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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Solaire\u2019s VIP rolling chip volume, mass table drop and slot coin-in were PHP616.4bn (US$11.0bn), PHP51.2bn (US$914m) and PHP356.7bn (US$6.37bn), representing year-over-year increases of 28 per cent, 35 per cent and 16 per cent, respectively.\u00a0The casino operator said all segments benefited from strong domestic demand and improvements in international visitation<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">VIP, mass table, and EGM GGR were PHP19.5bn (US$348m), PHP18.2bn (US$325m) and PHP20.6bn (US$368m), representing year-over-year growth of 18 per cent, 8 per cent and 22 per cent, respectively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As for the fourth quarter of 2023, the company reported consolidated net revenue of PHP11.9bn (US$212m), up 3 per cent year-on-year. GGR at Solaire was PHP13.8bn (US$246m), down 6 per cent year-on-year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Enrique K. Razon Junior<\/strong>,<strong>&nbsp;<\/strong>Bloomberry chairman and CEO, said: \u201cI am pleased to report our financial and operating results for 2023, which reflect a resilient Philippine economy amid a challenging global economic landscape.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Driven by a strong domestic market, our annual EBITDA and Net Profit grew by 35 per cent and 85 per cent year-over-year, respectively. Our mass table games, electronic gaming machines and non-gaming segments performed remarkably as revenues in these areas breached 2019 pre-pandemic levels by a significant margin.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;We have high hopes for 2024, especially as we open our second integrated resort in the thriving metropolis of Quezon City.&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/bloomberrys-solaire-north-ir-to-boost-earnings-analysts-say\" rel=\"noreferrer noopener\">The construction of Solaire Resort North<\/a>&nbsp;is almost complete, and we plan to launch late in May of this year. Solaire Resort North will massively enhance our luxury gaming and entertainment portfolio and solidify our standing as the leading integrated resort developer and operator in the Philippines.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consolidated net income was PHP9.5bn (US$170m).<\/p>\n","protected":false},"author":176,"featured_media":29713,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Bloomberry reported robust 2023 financial results, with consolidated net income surging 85% year-on-year to PHP9.5bn and GGR at Solaire Resort and Casino increasing 16% to PHP58.3bn, primarily driven by strong domestic mass market performance. The company anticipates further growth with the planned May 2024 launch of Solaire Resort North in Quezon City, aiming to expand its luxury gaming and entertainment portfolio and solidify its market leadership in the Philippines.","focusai_entities":"Bloomberry, Solaire Resort and Casino, Solaire Resort North, Enrique K. Razon Junior","focusai_location":"The Philippines, Metro Manila, Quezon City","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Solaire North Impact","query":"What is the projected incremental GGR and EBITDA contribution from Solaire Resort North in its first full year of operation, and how will it impact Bloomberry's market share in the Philippines' integrated resort sector?"},{"label":"Domestic Demand Strategy","query":"Given the sustained strength of domestic demand, what specific strategies is Bloomberry implementing to further capitalize on this segment, and what are the projections for international visitation recovery in 2024?"}],"footnotes":""},"categories":[163,16333],"tags":[15417],"class_list":["post-777013688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-bloomberry-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777013688"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013688\/revisions"}],"predecessor-version":[{"id":777013709,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013688\/revisions\/777013709"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/29713"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777013688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}