Ricky Razon bent on opening QC casino by end-2023 as Bloombery’s hot streak continues

Bloomberry Resorts Corp. sustained its winning streak in the first nine months of the year, swinging to a P4 billion profit from a P3 billion loss in the same period last year.

Total gross gaming revenue (GGR) jumped 89 percent to P13.4 billion.

Solaire’s VIP, mass table, and EGM GGR reached P11.8 billion, P12.3 billion, and P11.3 billion, representing year-over-year growth of 131 percent, 53 percent and 75 percent, respectively.

Solaire Korea’s Jeju Sun reported nil gaming revenue in the third quarter as operations at the property were suspended. Jeju Sun reopened with limited gaming operations last October 3.

For the third quarter, Bloomberry swung to a net profit of P1.5 billion from a net loss of P1.1 billion in the same period a year ago.

Solaire’s VIP, mass table, and EGM GGR were P11.8 billion, P12.3 billion, and P11.3 billion, representing year-over-year growth of 131 percent, 53 percent, and 75 percent, respectively.

The combined GGR performance of the domestic-focused mass tables and slots segments have recovered to well over 95% of 2019 levels.

Also remarkable is the performance of the slots segment where coin- in has far exceeded pre-pandemic volumes.

Consolidated net revenue jumped 78 percent to P27.3 billion.

Enrique K. Razon Jr., Bloomberry chairman and CEO, said, “Against a global economic backdrop of rising inflation and interest rates, our business saw third quarter gaming volumes further improve toward pre- pandemic levels. Continued growth during the quarter drove nine-month revenues from our predominantly domestic mass gaming segments to well over 95 percent of January to September 2019 values, demonstrating the resilience of local discretionary consumption. Our VIP segment experienced progressive recovery as it benefited from gradually improving international traffic.”

“While we remain focused on the recovery of Solaire in Entertainment City, work continues unimpeded on our second integrated resort, Solaire Resort North. We topped-off the structure last July and we remain on schedule to open by the fourth quarter of next year. We believe that once opened, Solaire Resort North will be able to expand and strengthen our foothold in this burgeoning domestic gaming market.”