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De omzet van Solaire daalde met 11 procent, ondanks een stijging van het aantal slots met 24 procent

By - 14 Mei 2024

Strong domestic demand at its Solaire casino in the Philippines has pushed Bloomberry’s slot revenue 24 per cent higher however lower VIP and mass table revenue dragged first quarter net income down 11 per cent year-on-year to P2.6bn.

Total Gross Gaming Revenues (GGR) at Solaire was P14.8bn, representing a decrease of eight per cent from P16bn in the first quarter of 2023. GGR was negatively impacted by lower VIP rolling chip and mass table drop volumes, which was partly offset by strong growth in EGM coin-in and GGR

VIP and mass tables GGR in the first quarter were P4.3bn and P4.6bn, representing year-over-year declines of 33 per cent and six per cent, respectively. EGM GGR was P5.9bn, increasing by 24 per cent year-over-year. Solaire’s VIP rolling chip volume and mass table drop were P106.9bn and P11.1bn, representing year-over-year declines of 36 per cent, and eight per cent, respectively. The domestic-focused Electronic Gaming Machine (EGM) segment recorded a 17 per cent year-on-year increase in coin-in.

Enrique K. Razon Jr., Bloomberry Chairman and CEO, commented, “In the first quarter of 2024, Solaire in Entertainment City reported lower VIP and mass table game revenues that resulted in an 11 percent decline in consolidated net income. If net income were adjusted for P279 million of Solaire Resort North pre-operating expenses, net income would have declined by only three percent.”

“We had a strong showing in the heavily domestic slot machines segment where revenue grew by 24 percent year-over-year. This strong local demand heightens our anticipation for our second property which will open on May 25. By increasing our mass table offerings and effectively doubling our slot machine capacity, Solaire Resort North will put Bloomberry in a prime position to gain market share.”

Solaire Korea’s Jeju Sun recorded gross gaming revenue of P15.6m in the first quarter, representing an increase of P14.5m from P1.2m in the previous quarter.

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