Bloomberry Resorts Corporation (BLOOM PM), owner and operator of the Solaire Resort & Casino and Jeju Sun Hotel & Casino, posted record Q3 mass table drop and gross gambling revenue from electronic gaming machines, while VIP volumes slipped. Total gross gaming revenue at Solaire in the Philippines increased by 16.6 percent to P11.5 billion as […]
Bloomberry Resorts Chairman and CEO Enrique Razon said he’s confident about the future for the Philippines’ casinos as tourist arrivals gain and infrastructure improves. “You know, with more properties coming online, it should increase the size of the (Philippine) market. I think medium- to long-term, everybody’s going to do great,” he told CNBC in an […]
Philippine casino operator Bloomberry Resorts saw an increase in Chinese visitors last month, suggesting President Rodrigo Duterte’s lean towards Beijing has started to benefit business, local media reports. According to Bloomberry chairman Enrique Razon, Chinese arrivals at its Solaire casino in Manila rose nearly 140 percent in November and 80 percent in October compared with […]
Philippine casino operator Bloomberry Resorts said it is considering selling its Jeju business, which could “eliminate the drag on its operations.” The casino operator made the comments in a media clarification filing to the Philippine Stock Exchange last week. Bloomberry said it was “in the thick of discussions to sell the Jeju business, thereby eliminating […]
The anticipated high rollers entering the Philippines will still mainly come from Southeast Asia, not China, news website Rappler reports. “Our high rollers in the past two years did not come from China. They come mainly from Southeast Asia. They are still around…that will still continue,” Bloomberry Resorts CEO Enrique Razon Jr said in an […]
Philippines-based casino operator Bloomberry Resorts Corp reported a net loss of PHP189.5 million ($4.1 million) in 15Q3, compared to a net profit of PHP991.7 million in the prior year period. The third quarter net loss was “a significant quarter-on-quarter improvement” from a net loss of PHP787 million reported in 15Q2, the company said. “Our investments […]
Bloomberry Resorts Corp., whose stock is the worst-performing major counter in the Philippines this year, expects its losses to narrow as revenue is growing, Bloomberg cited CEO Enrique Razon as saying in an interview in Manila. He said the company’s earnings will improve and it plans to provision by year-end for all unpaid credit extended […]
Bloomberry Resorts, the owner of the Solaire Resort & Casino in Manila, would be interested in possible opportunities in Taiwan if the government there approves regulation legalizing casinos. Chairman Enrique Razon told local media at the company’s shareholders’ meeting that the company also continues to monitor developments in Japan, where a bill is currently being […]
Bloomberry Resorts Corporation, owner and operator of the Solaire Resort & Casino, is looking north for future expansion. Its latest casino venture, which will be using the Solaire brand, is slated to be in Quezon City, the northern part of Manila, as part of a strategy to capture the untapped mass gaming sector there. Owner, […]
Bloomberry Resorts plans to start construction of a $308-million cruise port in Parañaque City in the third quarter of the year, local media reported chairman and CEO Enrique Razon as saying on the sidelines of the group’s annual shareholder meeting.
Solaire Resort & Casino, owned by Bloomberry Resorts, was the first IR to open its doors in Entertainment City. The $1.2 billion property, on an 8.2 hectare site, made its debut in March 2013 and expanded with the opening of the Sky Tower in late 2014. The company is now looking at further expansion with a resort in Quezon City, adjacent to Manila.
The Philippines, tipped at the beginning of the year to be the region’s best-performing gambling market, is still likely to outperform its peers despite heavy second-quarter losses among operators, slumping stocks and ongoing project delays, analysts say.Manila’s Entertainment City gaming hub had been expected to be a key beneficiary from the VIP exodus from Macau, however, losses across the industry mounted in Q2, with JP Morgan predicting in a June report that profit across the sector would be down 56 percent this year.