Bloomberry Resorts Corp. (Bloomberry), subsidiaries of which own and operate Solaire Resort & Casino (Solaire) and Jeju Sun Hotel & Casino (Jeju Sun), reported favorable unaudited consolidated financial results for the three and six months ended 30 June 2022.
“Our performance in the second quarter indicates a sustained recovery in all segments of our Philippine operations. Strong demand from the domestic mass market is pushing revenues closer to pre-pandemic levels and spurring the continued improvement of earning before income tax, depreciation and amortization (EBITDA) and net income,” Bloomberry chairperson and CEO Enrique K. Razon Jr. said.
“Absent the emergence of new Covid-19 variants that could disrupt our gains, we see the scope for further recovery as regional travel starts to pick up in the coming months. In the meantime, we will grow our market leadership by continuing to operate Solaire at the highest levels of service and health security.”
Gaming performance
In the second quarter of 2022, Metro Manila remained under the lowest alert level — Alert Level 1.
Throughout the reporting period, Solaire’s gaming segments operated at capacities consistent with guidelines set forth by state-owned Philippine Amusement and Gaming Corp. and the Inter-Agency Task Force for the Management of Emerging Infectious Diseases.
Total gross gaming revenue at Solaire was P13.1 billion, representing an increase of 131 percent from P5.7 billion in the second quarter of last year. Easing of restrictions throughout the quarter furthered the recovery of gaming revenues. Compared to the previous quarter, GGR at Solaire improved by 47 percent. GGR at Solaire in the first half was P22.0 billion, 76 percent higher than the P12.6 billion recorded in the first half of 2021.