• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 16 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Solaire GGR down 8% to US$256 million in 1Q24 on lower VIP and mass table volumes, domestic slots show growth

Ben Blaschke by Ben Blaschke
Tue 14 May 2024 at 11:39
More fun in the Philippines

Solaire Resort Entertainment City opened in 2013

18
SHARES
450
VIEWS
Print Friendly, PDF & Email

Bloomberry Resorts Corporation reported gross gaming revenues of Php14.8 billion (US$256 million) in the three months to 31 March 2024, down 8.1% year-on-year due to a decline in GGR in the VIP and mass table games segments at its Manila IR, Solaire Resort Entertainment City.

Releasing its Q1 results on Tuesday morning, Bloomberry revealed a 33.3% decline in VIP table revenues to Php4.27 billion (US$73.8 million), while mass tables fell 6.3% to Php4.58 billion (US$79.2 million).

However, slot machine GGR grew by 24.0% year-on-year to Php5.90 billion (US$102 million), with the company citing strong domestic demand which it said bodes well for the impending launch of its second IR, Solaire Resort North, in Quezon City this month.

In prepared comments, Bloomberry Chairman and CEO Enrique K Razon Jr said, “In the first quarter of 2024, Solaire in Entertainment City reported lower VIP and mass table game revenues that resulted in an 11% decline in consolidated net income (to Php2.6 billion or US$45 million). If net income were adjusted for Php279 million (US$4.8 million) of Solaire Resort North pre-operating expenses, net income would have declined by only 3%.

“We had a strong showing in the heavily domestic slot machines segment where revenue grew by 24% 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.”

Bloomberry’s consolidated net revenue in 1Q24 was Php12.5 billion (US$216 million), down 3% year-on-year but 5% higher than the December 2023 quarter.

This included Php2.2 billion (US$38 million) in non-gaming revenue, up 4% year-on-year, while the company’s Korean casino Jeju Sun saw GGR increase from Php1.2 million (US$20,700) in 4Q23 to Php15.6 million (US$269,580).

RelatedPosts

PAGCOR executive says technology advancements aiding rise in illegal online gaming operators

PAGCOR executive says technology advancements aiding rise in illegal online gaming operators

Mon 15 Sep 2025 at 22:25
Philippines’ maiden PIGO platform generates GGR of US$2.3 million in first six months of operation

DigiPlus said to be eying acquisition of land-based casino pending online gaming regs

Mon 15 Sep 2025 at 21:59
IAG EXPO: Interview with Light & Wonder’s Jamie Dorbian

IAG EXPO: Interview with Light & Wonder’s Jamie Dorbian

Sun 14 Sep 2025 at 17:33
IAG EXPO 2025: Interview with Paul Heretakis

IAG EXPO 2025: Interview with Paul Heretakis

Thu 11 Sep 2025 at 21:35
Load More
Tags: Bloomberry Resorts CorpEnrique K Razon JRgross gaming revenuePhilippinesslot machinesSolaire Resort Entertainment City
Share7Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

Police arrest 100 people after detecting 62 cases of illegal money exchange in joint Macau operation

Police arrest 100 people after detecting 62 cases of illegal money exchange in joint Macau operation

by Pierce Chan
Mon 15 Sep 2025 at 22:58

Police from Macau, Guangdong and Hong Kong detected 62 cases of illegal money exchange and apprehended around 100 people suspected of being part of money exchange gangs as part of a month-long joint operation codenamed “Thunderstorm 2025”. Authorities said that...

Melco wins sustainability awards for “Above and Beyond” strategy

Melco yet to price proposed new notes offering, looking to redeem outstanding 2026 notes

by Newsdesk
Mon 15 Sep 2025 at 22:49

Melco Resorts Finance Limited, the Melco Resorts & Entertainment subsidiary that operates City of Dreams Macau, Altira Macau and Mocha Clubs, is proposing to conduct an international offering of senior notes as part of its plan to redeem all outstanding...

PAGCOR executive says technology advancements aiding rise in illegal online gaming operators

PAGCOR executive says technology advancements aiding rise in illegal online gaming operators

by Newsdesk
Mon 15 Sep 2025 at 22:25

The rapid advancement of technology within the gaming industry is driving a proliferation of illegal online operators by creating an unstable environment in which legitimate businesses can struggle, according to PAGCOR Vice President for Human Resource and Development Group, Dr...

Comtrade Gaming to expand reach of in-house studio CG Games via partnership with Interwetten

Comtrade Gaming to expand reach of in-house studio CG Games via partnership with Interwetten

by Newsdesk
Mon 15 Sep 2025 at 22:05

Comtrade Gaming, a leading provider of advanced gaming technology, has announced a new partnership with online gaming provider Interwetten through which CG Games – Comtrade Gaming’s in-house game studio – will be integrated into Interwetten’s casino offering. This, Comtrade said,...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English