Bloomberry Resorts Corp., the listed casino and resort operator of tycoon Enrique Razon Jr. that owns Solaire, said Monday net profit surged 85 percent last year to P9.5 billion, driven mainly by the strong domestic gaming market.
Net revenue was up 24 percent to P48.4 billion as gross gaming revenue at Solaire increased by 16 percent to P58.3 billion, nearly matching the level set in 2019. Gross gaming revenue was fueled by the domestic-focused mass tables and electronic gamng machines segments, who combined revenue was more than double the pre-pandemic level.
Solaire’s VIP rolling chip volume, mass table drop, and slot coin-in were P616.4 billion, P51.2 billion, and P356.7 billion, representing year-on-year increases of 28 percent, 35 percent, and 16 percent, respectively.
All segments benefited from strong domestic demand and further improvements in international visitation VIP, mass table, and EGM GGR were P19.5 billion, P18.2 billion, and P20.6 billion, representing growth of 18 percent, 8 percent, and 22 percent, respectively
Razon, chairman and chief executive officer of Bloomberry, said the company’s performance last year “reflect a resilient Philippine economy amid a challenging global economic landscape.” He added: “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.”
He said Bloomberry is optimistic of the prospects for this year, especially with the opening in Quezon City of the listed company’s second integrated resort and casino.
“The construction of Solaire Resort North 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,” Razon said.
