Bloomberry to expand presence in e-gaming space

MANILA, Philippines — Bloomberry Resorts Corp. of tycoon Enrique Razon Jr. is preparing to launch an online platform that will expand its presence in the electronic gaming space.

Bloomberry, owner and operator of the Solaire Resort Entertainment City, Solaire Resort North and Jeju Sun Hotel & Casino, said that the company is currently developing a new online platform that targets a broader audience.

The online platform, it said, “will compete directly with offerings of other electronic gaming license holders, including BingoPlus, the online casino brand developed by DigiPlus Interactive Corp.”

DigiPlus, a digital entertainment company chaired by Eusebio Tanco, has been experiencing consistent financial growth and increasing investor confidence due to its robust market presence as well as immersive and culturally resonant gaming experiences.

Its growing portfolio of digital offerings include BingoPlus, the Philippines’ first government-approved online bingo platform.

Bloomberry said that Solaire and a number of its competitors in the Philippines were allowed by the Philippine Amusement and Gaming Corp. to accept bets via the internet through online gaming websites during the pandemic.

In April 2021, the company launched Solaire Online, which now competes with similar offerings by integrated resort operators, among others, in Entertainment City, Clark and Cebu.

“The company believes that Solaire can continue to compete effectively against its competitors with its captured mass and VIP customers in the Philippines and across Asia, as well as through its superior product and excellent service,” Bloomberry said.

“The company’s properties and online offerings appeal to the preferences of all segments of the Philippine gaming market, which are expected to grow significantly over the years ahead,” it said.

In 2024, Bloomberry posted a net income of P2.6 billion, 72.6 percent lower than the P9.5 billion recorded in the previous year.

The profit drop was attributed to a significantly higher depreciation and interest expense associated with Solaire Resort North as well as a P706.3 million one-off gross receipts tax charge relating to a P72-billion syndicated refinancing facility last year.

In the fourth quarter, the company incurred a net loss of P920.2 million, a turnaround from a net income of P1.3 billion in the same period in 2023.

Consolidated net revenue for the full year, meanwhile, rose by 10 percent to P53.1 billion from the previous year’s P48.4 billion.

Gross gaming revenue  stood at P61.7 billion, up by six percent from P58.3 billion in 2023, driven primarily by the GGR contributed by Solaire Resort North, which recorded 221 days of operations for the year.

Bloomberry said that the $1-billion Solaire Resort North continues to gain traction in daily foot traffic and revenue since its grand opening in May 2024.