Manila’s Solaire Resort and Casino saw its gross gaming revenue climb 14% to a record Php50.97 billion in the 12 months to 31 December 2018, driven by across the board gains in the VIP, mass and EGM segments.
The results, announced by parent company Bloomberry Resorts Corporation on Tuesday, included a new high in VIP volume of Php810.23 billion, up 2% on 2017 levels, with VIP revenue gaining 5% to reach Php21.82 billion.
Likewise, mass table drop and EGM coin-in at Solaire reached record highs of Php44.89 billion and Php211.89 billion, representing year-on-year growth of 22% and 15% respectively. The uptick in mass came on the back of a 14% increase in visitation throughout the year to 6.65 million people.
Mass table revenues were Php15.26 billion, up 27% year-on-year, while EGM revenue was Php13.90 billion, representing an 18% increase.
In the fourth quarter of 2018, total GGR at Solaire was Php13.231 billion, 29% higher than the GGR recorded in the same period in 2017. VIP, mass tables, and EGM GGR recorded year-on-year increases of 53%, 18%, and 10% respectively.
Group-wide, consolidated net revenue reached Php38.22 billion in 2018, rising 16% year-on-year, while EBITDA grew 21% to Php14.90 billion.
Bloomberry’s Korean operation, Jeju Sun, reported a 19% year-on-year increase in annual gaming revenues to Php484 million, helping the company’s consolidated gaming revenues reach Php48.23 billion, an increase of 14% against consolidated gaming revenues in 2017.
In the non-gaming segment, Bloomberry again recorded record revenue in 2018 of Php6.62 billion, driven by higher hotel occupancy at Solaire, a greater frequency of productions in the Theatre at Solaire and increased rental income from new tenants at The Shoppes.
Hotel occupancy at Solaire in 2018 was 92.6%, representing a 1.9% increase from the 90.7% occupancy in 2017, the company said.
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