Bloomberry Resorts Corp., operator of Solaire Resort and Casino, announced plans to officially launch its online gambling business by late May or early June, a move seen as a strategic expansion to diversify revenue streams and solidify its market leadership in the Philippine gaming sector.
Chairman Enrique K. Razon Jr. revealed the timeline during the firm’s annual stockholders’ meeting on Thursday, saying that the online platform is undergoing final testing. The new offering will complement Solaire’s existing online operations and extend the brand’s reach to players nationwide.
“With our best-in-class integrated resort products and expanded exposure to online gaming, we have an unrivaled and highly diverse portfolio of revenue sources,” Razon said. “This will solidify our position as the top gaming firm in the Philippines and the region.”
The online initiative is part of a broader tactical strategy that includes revitalizing revenue at Solaire Entertainment City, accelerating profitability at the recently opened Solaire North in Quezon City, and expanding the company’s mass market exposure through electronic gaming products.
Despite a challenging financial year marked by a 72 percent drop in consolidated net income to ₱2.62 billion, Bloomberry is leveraging its long-term assets to drive growth. The decline was attributed to higher depreciation and interest expenses linked to Solaire North, as well as a ₱706.3 million one-off gross receipts tax charge on its ₱72 billion refinancing facility.
In the fourth quarter alone, the firm posted a net loss of ₱920.2 million, reversing a ₱1.3 billion net income in the same period a year prior. However, the company reported a ₱37.7 billion increase in land value, boosting total equity through a ₱28.7 billion revaluation increment.
Gross gaming revenue (GGR) rose 6 percent year-on-year to ₱61.7 billion, driven by Solaire North’s partial-year contributions and robust performance from the mass market segment, which outpaced the VIP business with a 19 percent gain in mass table games and electronic gaming machines.
As Bloomberry leans into digital gaming and targets mass market growth, analysts will be watching closely to see whether the company’s investments can translate into a rebound in profitability and sustain its regional dominance in integrated gaming and entertainment.
