• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 3 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Bloomberry sets new revenue records in 2017 as Solaire continues to shine

Ben Blaschke by Ben Blaschke
Thu 5 Apr 2018 at 21:30
Print Friendly, PDF & Email
  • GGR up 17% in 2017 to Php44.93 billion
  • VIP volumes up 11%
  • Mass table drop up 21%
  • Record results at Solaire
  • Company EBITDA up 17% to Php12.35 billion
  • Net profit up 161% to Php6.06 billion
  • Low 4Q17 hold sees GGR fall 2%

Philippine casino operator Bloomberry Resorts Corporation reported record revenue in 2017, despite low hold at its flagship Solaire Resort & Casino negatively impacting the company’s fourth quarter results.

Gross gaming revenue grew 17% in 2017 to Php44.93 billion (US$863.6 million), aided by an 11% increase in VIP volumes, 21% growth in mass table drop and 29% boost in EGM coin-in at Solaire. Non-gaming revenues increased by 40% to also hit a record Php3.34 billion.

On a consolidated basis, less the Php11.55 billion in promotional allowances and contra accounts, Bloomberry reported Php33.38 billion in net gaming revenues, 19% higher year-on-year.

Solaire’s gross gaming revenues grew 16% to Php44.519 billion – the highest on record since opening – with Korean casino Jeju Sun contributing Php407 million.

Company EBITDA for the year was also up 17% to Php12.35 billion, while net profit grew 161% to Php6.06 billion (US$116.5 million) year-on-year including an 81% increase in Solaire’s profitability to Php6.269 billion. Jeju Sun reported reduced losses of Php207 million, an improvement on losses of Php1.14 billion in 2016.

“Going into our fifth year of operation has become even more exciting with our 2017 results in sync with the growth trajectories we have aimed for,” said Chairman and CEO Enrique Razon Jr.

“This is largely due to our top-notch management team and the thousands of Bloomberry and Solaire men and women, whose tireless drive and dedication keep us notches ahead.”

Gross gaming revenue in 4Q17 fell 2% year-on-year and 11% sequentially to Php10.27 billion due to a low hold rate of 1.95%. Despite the fall in GGR, Solaire posted a new record high for mass table drop while VIP volumes were up 17% year-on-year and mass table drop and EGM coin-in up 19% and 23% respectively.

On a sequential basis, VIP volumes were up 7% while mass tables were essentially flat.

Bloomberry reported Php2.111 billion in EBITDA for the quarter, down 39% quarter-on-quarter and 22% year-on-year. The low 1.95% VIP hold rate compared with a 2.85% VIP hold rate in the same period last year.

RelatedPosts

Philippines casino GGR up 630% quarter-on-quarter in 3Q20

PAGCOR: Manila’s Entertainment City casinos suffered combined 5.7% GGR decline in FY24

Tue 8 Apr 2025 at 13:55
Philippine tourist arrivals down 0.5% in 1Q25 on fewer visitors from South Korea, China

Philippine tourist arrivals down 0.5% in 1Q25 on fewer visitors from South Korea, China

Mon 7 Apr 2025 at 05:11
PhilWeb falls to US$10.5 million loss in FY24 on asset impairments

PhilWeb falls to US$10.5 million loss in FY24 on asset impairments

Fri 4 Apr 2025 at 03:51
Grand Korea Leisure’s casino revenue jumps almost 28% in March

Grand Korea Leisure’s casino revenue jumps almost 28% in March

Thu 3 Apr 2025 at 13:16
Load More
Tags: BloomberryBloomberry Resorts CorporationEbitdaEnrique K Razon JRenrique razon jrGGRManilaPhilippinesresultsrevenueSolaire
Share5Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – The real reason Philippines casino revenues are down

Editorial – The real reason Philippines casino revenues are down

by Ben Blaschke
Sun 30 Mar 2025 at 23:04

After enjoying a post-COVID surge in gaming revenues at its licensed casinos, the Philippines has hit a rocky patch. In...

Inside Thai IRs

Inside Thai IRs

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:59

No time to read this whole article? Here are the bullet points! With passage of Thailand’s Entertainment Complex Bill through...

Resorts World Las Vegas – Lighting up the north

Resorts World Las Vegas – Lighting up the north

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:52

Inside Asian Gaming recently visited Genting’s American icon Resorts World Las Vegas to take a closer look at a property...

A baccarat perspective

A baccarat perspective

by Ryan Hong-Wai Ho
Sun 30 Mar 2025 at 22:37

In the first of a two-part series, Ryan Ho explores how gaming innovations and market changes have shaped the prominence...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

by Newsdesk
Wed 9 Apr 2025 at 06:16

Star Entertainment Group confirmed Monday it had entered into a binding term sheet with US casino operator Bally’s Corp to take control of the company as part of a US$300 million (US$180 million) deal. The term sheet, comprising a multi-tranche...

China-owned contractor of Chow Tai Fook’s Baha Mar ordered to pay US$1.6 billion to original owner for “many acts of fraud”

New York appellate court dismisses China Construction America’s appeal in US$1.6 billion Baha Mar fraud case

by Ben Blaschke
Wed 9 Apr 2025 at 05:59

A New York court has dismissed an appeal by China Construction America, Inc (CCA) against a Supreme Court ruling in October requiring it to pay US$1.6 billion to the original owner of Bahamas casino resort Baha Mar for committing “many acts...

Trade union warns massively increased casino pokies tax in NSW will cost jobs

Pub baron Bruce Mathieson agrees additional AU$100 million Star investment, reduces Bally’s contribution to AU$200 million

by Ben Blaschke
Wed 9 Apr 2025 at 05:40

Star Entertainment Group’s largest individual shareholder Investment Holdings Pty Ltd has entered into a binding term sheet with US casino operator Bally’s Corp that will see it subscribe for AU$100 million (US$60 million) in convertible bonds, reducing in the process...

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

by Newsdesk
Wed 9 Apr 2025 at 05:35

Genting Group’s US flagship Resorts World Las Vegas (RWLV) has announced the appointment of casino industry veteran Greg Shulman as Executive Vice President of International Marketing. Continuing the property’s recent management overhaul, RWLV said Shulman will lead its international casino...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English