Gaming firm Bloomberry Resort Corp. chalked up P578.3 million in revenue in the first 15 days of Solaire Manila Resort & Casino’s operations.
But for the first quarter, Bloomberry incurred a net loss of P1.06 billion, 688.6 percent higher year-on-year, due to higher pre-operating expenses as well as operating expenses and cost of sales during the first 15 days of operation.
Bloomberry launched the first entertainment complex in Pagcor City last March 16.
In the first quarter, gaming was the biggest contributor to revenue, amounting to P495.6 million. Its hotel, food and beverage outlets contributed P57.1 million while retail revenue from the first 15 days of commercial operation reached P1 million.
Other income consisted mainly of lease rentals, communication and transportation services.
After the opening of the first phase of its entertainment complex, Solaire said it would soon ramp up its gaming business. A number of junket operators have signed up to bring in foreign VIP players while numerous promotional programs and strategic marketing activities are ready to be launched, Bloomberry said.
Since opening day, Solaire’s hotel and food beverage outlets have become go-to destinations, becoming the byword for upscale service, amenities and excellent food and beverage choices. Bloomberry also announced that Solaire had adjusted its prices “to address concerns about being too pricey.”
By the middle of next year, Solaire will be ready to launch a new phase, consisting of an all-suite hotel tower, high-end retail area and a lyrical theater.