{"id":777016076,"date":"2024-06-03T08:30:47","date_gmt":"2024-06-03T11:30:47","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777016076"},"modified":"2026-04-22T09:36:38","modified_gmt":"2026-04-22T12:36:38","slug":"solaire-north-ir-to-reach-ebitda-breakeven-by-q3-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/solaire-north-ir-to-reach-ebitda-breakeven-by-q3-analysts-say","title":{"rendered":"Solaire North IR to reach EBITDA breakeven by Q3, analysts say"},"content":{"rendered":"\n

Analysts at \u00a0Morgan Stanley Asia say the integrated resort could generate\u00a0PHP800m (US$13.7m) in positive EBITDA this year.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- A report by Morgan Stanley Asia has indicated that\u00a0Solaire Resort North<\/strong>, an integrated resort (IR)\u00a0opened by Bloomberry Resorts in Quezon City<\/a>,\u00a0could break even on earnings before interest, taxation, depreciation, and amortization (EBITDA) by the third quarter. They said the IR is projected to generate PHP800m (US$13.7m) in EBITDA this year and PHP9.1bn in 2025.<\/p>\n\n\n\n

The\u00a0US$1bn\u00a0development, launched on May 25, features 526 rooms and suites. The casino has 2,669 electronic gaming machines and 163 tables across four levels.\u00a0Its proximity to the Entertainment City casino zone in Manila has sparked concerns about potential cannibalisation. However, Morgan Stanley suggests Bloomberry Resorts may benefit from the shift in market dynamics at the expense of other operators in Entertainment City.<\/p>\n\n\n\n

They say between 18 per cent and 34 per cent of Entertainment City’s EBITDA could be eroded with City of Dreams Manila and Okada Manila possibly the most affected IRs. Clark would also be a “feeder market” for Solaire Resort North.<\/p>\n\n\n\n

Morgan Stanley noted that Solaire Resort North is expected to introduce more offerings via its VIP floor in July and new food and drink facilities in September.<\/p>\n\n\n\n

In April, Bloomberry chairman and CEO Enrique K. Razon Junior<\/strong> said he expected the IR  to achieve full operational capacity by 2026<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts at \u00a0Morgan Stanley Asia say the integrated resort could generate\u00a0PHP800m (US$13.7m) in positive EBITDA this year.<\/p>\n","protected":false},"author":176,"featured_media":17719,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Morgan Stanley Asia projects Solaire Resort North, Bloomberry Resorts' new integrated resort in Quezon City, will achieve EBITDA break-even by Q3 2024, generating PHP800m this year and PHP9.1bn in 2025. The US$1bn development is expected to shift market dynamics, potentially eroding 18-34% of Entertainment City's EBITDA, primarily impacting competitors like City of Dreams Manila and Okada Manila.","focusai_entities":"Morgan Stanley Asia, Solaire Resort North, Bloomberry Resorts, City of Dreams Manila, Okada Manila, Enrique K. Razon Junior","focusai_location":"Philippines, Quezon City, Manila, Clark","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.98), marketing_crm (0.7), investor_analyst (0.99), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Market Cannibalization Impact","query":"What specific strategies are City of Dreams Manila and Okada Manila implementing to mitigate the projected 18-34% EBITDA erosion from Solaire Resort North's market entry?"},{"label":"Bloomberry Growth Drivers","query":"Beyond initial market share capture, what are the long-term growth drivers for Solaire Resort North to achieve full operational capacity by 2026 and sustain PHP9.1bn EBITDA in 2025?"}],"footnotes":""},"categories":[157,16333],"tags":[15417,23632],"class_list":["post-777016076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-bloomberry-resorts","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016076","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=777016076"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016076\/revisions"}],"predecessor-version":[{"id":777016079,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016076\/revisions\/777016079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17719"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777016076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777016076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777016076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}