Bloomberry Resorts’ president and chief operating officer says the company is preparing for the opening of its second integrated resort<\/p>\n\n\n\n\n\n\n\n
The Philippines.-\u00a0Bloomberry Resorts<\/strong>\u00a0expects to open Solaire Resort North in Quezon City in late May. President and COO Thomas Arasi<\/strong> confirmed the plan at the ASEAN Gaming Summit,\u00a0<\/strong><\/p>\n\n\n\n Analysts at Morgan Stanley Asia<\/a>\u00a0<\/strong>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\u2019s market presence and revenue potential.\u00a0The\u00a0US$1bn<\/strong>\u00a0development will have a hotel, gaming, restaurants and bars, meeting facilities and retail spaces like Solaire Resort & Casino in Entertainment City. .\u00a0<\/p>\n\n\n\n For full year 2023,\u00a0Bloomberry<\/a>\u00a0<\/strong>reported net income of PHP9.5bn (US$170m), up 85 per cent\u00a0year-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 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<\/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","protected":false},"excerpt":{"rendered":" Bloomberry Resorts’ president and chief operating officer says the company is preparing for the opening of its second integrated resort<\/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 Resorts is preparing for the late May opening of its US$1bn Solaire Resort North in Quezon City, Philippines, which will significantly expand its gaming capacity with 150 mass tables and 2,500 slot machines. This expansion follows a strong 2023 performance, with GGR at its existing Solaire Resort & Casino reaching 97% of 2019 levels, primarily driven by robust domestic mass market demand. The new integrated resort is poised to enhance Bloomberry's market presence and revenue potential.","focusai_entities":"Bloomberry Resorts, Thomas Arasi, Morgan Stanley Asia, Solaire Resort North, Solaire Resort & Casino","focusai_location":"The Philippines, Quezon City, Metro Manila, Entertainment City","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Solaire North ROI?","query":"What is the projected return on investment (ROI) for the US$1bn Solaire Resort North, and how quickly is Bloomberry Resorts forecasting EBITDA contribution from its new gaming and non-gaming verticals?"},{"label":"Market Cannibalization Risk?","query":"To what extent does Bloomberry Resorts anticipate potential cannibalization of GGR from its existing Solaire Resort & Casino by the new Solaire Resort North, particularly within the domestic mass market segment?"}],"footnotes":""},"categories":[157,16333],"tags":[15417],"class_list":["post-777014087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-bloomberry-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014087","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=777014087"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014087\/revisions"}],"predecessor-version":[{"id":777014112,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014087\/revisions\/777014112"}],"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=777014087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}