Bloomberry Resorts Corporation, whose subsidiaries own and operate Solaire Resort Entertainment City (SEC), Solaire Resort North (SN), and Jeju Sun Hotel & Casino (Jeju Sun), generated Gross Gaming Revenue (GGR) of P14.3bn, representing a decrease of one per cent from P14.5bn in the second quarter of 2024.
GGR was impacted by continued weakness in the VIP and premium mass segments, particularly in Solaire Resort Entertainment City (SEC). Solaire Resort North (SN) contributed P4.5bn in GGR for the quarter which compares to P1.1 billion generated between May 25 and June 30, 2024.
The combination of Mass tables and Electronic Gaming Machines (EGM) GGR across the company’s two Metro Manila properties continued to expand as it grew 18 per cent year-over-year.
Enrique K. Razon Jr., Bloomberry Chairman and CEO, commented, “It was a challenging second quarter for Bloomberry as softness persisted in Solaire Entertainment City’s VIP and premium mass segments. However, Solaire North saw further growth as mass gaming volumes and non-gaming revenue increased over the previous quarter. The gains in our second property contributed to the performance of our Metro Manila mass gaming and non-gaming revenue which rose 18% and 37% year-over-year, respectively.”
“Last June, our new online platform “MegaFUNalo!” was made available to the public on a soft-launch basis. In the coming months, we will introduce more content and enhancements to the platform that will strengthen its competitiveness.”
For the second quarter, total GGR at Solaire Resort Entertainment City was P9.8bn, representing a decline of 27 per cent from P13.3bn in the second quarter of 2024. GGR was negatively impacted by weaker volumes across all gaming segments and lower win rates in VIP tables and EGMs.
VIP rolling chip volume was P63.9bn, representing a year-over-year decline of 46 per cent. The VIP hold rate was 2.23 per cent against 3.17 per cent in the second quarter of 2024. VIP GGR was P1.4bn, declining by 62 per cent compared to P3.7bn in the same quarter last year.
Mass table drop was P7.9 billion, representing a year-over-year decline of 23%. The mass table hold rate was 49.2%, compared to 41.7% in the same period last year. Mass table GGR was P3.9 billion, down by 9% from P4.3 billion in the second quarter of 2024.
EGM coin-in was P81.2 billion, recording a 12% year-on-year decrease. The EGM hold rate was 5.5% compared to 5.7% in the second quarter of 2024. EGM GGR was P4.5 billion, lower by 16% compared to P5.3 billion in the same quarter last year.
Non-gaming revenue was P2.1 billion, up 2% from P2.0 billion in the same quarter last year. Net revenue was P8.2 billion, down 25% from P11.0 billion in the second quarter of 2024.
SEC generated EBITDA of P1.7 billion which was down 61% from P4.4 billion in the same quarter of last year.
(SN)
Solaire Resort North generated GGR of P4.5bn for the quarter which compares to GGR generated over the May 25 to June 30, 2024 period of P1.1bn. The property continues to gain traction, particularly in the Mass Table and EGM segments.
Solaire Korea’s Jeju Sun recorded gross gaming revenue of P2.5m, representing a decrease of P33.2m from P35.7m in the same quarter last year.
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Bloomberry Resorts Corporation, whose subsidiaries own and operate Solaire Resort Entertainment City (SEC), Solaire Resort North (SN), and Jeju Sun Hotel & Casino (Jeju Sun), generated Gross Gaming Revenue (GGR) of P14.3bn, representing a decrease of one per cent from P14.5bn in the second quarter of 2024. GGR was impacted by continued weakness in the…
The post Bloomberry hit by weakness in the VIP and premium mass segments appeared first on G3 Newswire.