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Nov 14, 2016 @ 19:07

EKR’s winning streak: High rollers push Bloomberry’s revenues to record

 

High-rollers put in more money at Solaire Resorts and Casino in the third quarter of this year with VIP volume reaching an all-time high.

Solaire operator Bloomberry Resorts Corp. booked a net income of P1.42 billion in July to September, reversing the P189 million net loss in the same period last year.

The turnaround was attributed to Jeju Sun HOtel & Casino’s return to profitability.

Solaire produced the best ever quarterly VIP volume, mass table drop and EGM coin-in , growing by 61 percent, 10 percent and 16 percent, respectively.
For the nine months ending September this year, VIP volume grew 36 percent.

As a result, gross gaming revenues rose 14 percent year-on-year in the nine-month period to an all-time high P28.03 billion.

The company’s non-gaming revenues grew 24 percent to a record P1.72 billion, mainly on the back of significant improvements from its hotel, food and beverage and retail segments.

“Our one- mindedness to manage costs and capital will see us maintaining this growth trajectory up to the end of the year. We are confident that the effects of these initiatives will carry on into the coming year, but we will nonetheless continue to be discerning and persevere in making Solaire the premium go-to Philippine destination,” Bloomberry chairman and CEO Enrique K. Razon Jr. said.

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