CLAIMS TO FAME
- Trusted confidante of Bloomberry owner Enrique Razon Jr
- Serves as President, COO and Director of Solaire parent company Bloomberry
Joining Solaire Resort operator Bloomberry way back in 2013 – the same year the Manila IR first opened its doors – Tom Arasi is now part of the furniture in Entertainment City. And why wouldn’t he be?
Under his stewardship, Solaire has cemented its position as a clear market leader in Manila, fending off all efforts from rivals to steal away its market share. Arasi has done so by maintaining a strict dedication to quality, and it is an open secret that the other local operators look to Solaire to lead the way when it comes to the layout and offerings of its highly profitable gaming floor.
A similar attention to detail has been applied in Quezon City, where Bloomberry this year opened its second Solaire-branded IR in Solaire Resort North. Although it’s still early days, the early signs have been promising with the new IR turning EBITDA-positive within its first five weeks of operation despite a variety of gaming and non-gaming facilities having not yet launched during the period.
The broader Philippines market remains somewhat challenging and even Solaire Resort Entertainment City hasn’t been immune, with group-wide GGR down 4% and Adjusted EBITDA by 33% in the June quarter, largely on weakness in VIP.
But write-off the Philippines market at your peril. A multitude of factors point to the Philippines becoming entrenched as Asia’s long-term second-largest market after behemoth Macau. And where goes the Philippines, so goes market-leader Solaire.
For the full list of 2024 Asian Gaming Power 50 winners, click here.
