A leading entertainment corporation in the Philippines, Bloomberry Resorts, announced a substantial rise in their gross gaming revenue (GGR) for the third quarter of 2022. Hitting an impressive 13.4 billion Philippine pesos (roughly US$230 million), this marks a significant 89% leap compared to the corresponding period the previous year.
This accomplishment can be primarily credited to the robust results of Solaire Resort & Casino in the Philippines, a Bloomberry subsidiary. Solaire experienced considerable expansion across all gaming divisions, driven by a healthy resurgence in local demand as travel limitations relaxed in the area. Their high-roller segment, specifically, observed a remarkable 136% surge in gaming income compared to the prior year.
Enrique K. Razon Jr., Bloomberry’s Chairman and CEO, conveyed confidence in the company’s resurgence, noting that their gaming activity is approaching pre-pandemic figures. This upward trajectory, coupled with a boost in earnings, presents a hopeful outlook for Bloomberry Resorts as they continue to leverage the revival of tourism and leisure in the region.
Our robust local mass market entertainment sector fueled revenue expansion this period, achieving more than 95% of pre-outbreak figures for the initial nine months. This truly underscores the strength of domestic expenditure. We’re also observing a consistent rebound in our high-roller segment as global travel continues its resurgence.”
Razon Jr. continued, “As we concentrate on Solaire’s recovery, development at our second integrated resort destination, Solaire Resort North, remains on schedule.”
“We completed the structure last July and anticipate opening in the final quarter of 2024. We are certain that Solaire Resort North will broaden our footprint in this thriving domestic entertainment sector and cement our leading status.”
