Operator News
Philippines – Invitation only mass gaming drives recovery at Solaire
By Phil - 7 March 2022
Bloomberry Resorts Corporation, whose subsidiaries own and operate Solaire Resort & Casino and Jeju Sun Hotel & Casino, saw its casino revenue double during the last quarter to the year ended December 31, 2021.
Total GGR at Solaire was P8bn, representing an increase of 50 per cent from P5.3bn in the fourth quarter of 2020 and a 13 per cent improvement from the previous quarter. Mass tables and EGM GGR, increased by 19 per cent and 30 per centon a sequential basis.
Solaire’s casino has been operating at a limited capacity consistent with the guidelines provided by PAGCOR. Throughout the year, Solaire maintained its invite-only policy for its gaming patrons. In 2021, total GGR at Solaire was P27.6bn, representing an increase of 22 per cent from P22.6bn in 2020. Solaire’s VIP GGR was P6.7bn, lower by 16 per cent year-on-year, while Mass table and EGM GGR were P11.3bn and P9.5bn, representing year-over-year increase of 54 per cent and 32 per cent, respectively
VIP GGR for the quarter was P1.7bn, representing a sequential decline of 17 per cent due to the closure of a number of big gaming promoters towards the end of the year. However, this still represents an increase of 40 per cent year-over-year. Fourth quarter mass table and EGM GGR were P3.2bn and P3.1bn, representing sequential improvements of 19 per cent and 32 per cent, respectively.
Enrique K. Razon Jr., Bloomberry Chairman and CEO, said: “The year 2021 demonstrated the resilience of our business amidst a pandemic characterized by a slowly recovering economy and the absence of tourism. Compared to 2020, it was a better year for Bloomberry as it was propped up by the domestic patronage which grew our mass gaming revenues by 43 per cent and EBITDA by 265 per cent. While we look forward to better days ahead, we remain equipped to operate under challenging circumstances if they materialize.” “Even as COVID-19 restrictions are eased around the world, Bloomberry will continue to uphold its market leading health standards for the safety of both guests and team members.”
