Solaire Resort’s FY23 GGR Hits 97% of Pre-Pandemic Levels
Bloomberry Resorts Corporation, which owns and operates Solaire Resort Entertainment City, has reported consolidated net revenue of Php11.9 billion ($212 million) in Q42023 for the Manila-based integrated destination resort that spreads across an 8.3-hectare site.
Bloomberry Resorts Corporation
Solaire Resort Entertainment City,
Php11.9 billion
$212 million
Q42023
The figure, which marks a 3% year-on-year rise compared to 2022’s fourth quarter, was partially generated with the help of improved non-gaming revenue.
3% year-on-year rise
improved non-gaming revenue
At the same time, Bloomberry also announced that, during FY2023, Solaire’s total gross gaming revenue has made a spectacular comeback at P58.3 billion ($1.04 billion), marking a 16% increase from FY22 while reaching 97% of 2019’s numbers.
FY2023
total gross gaming revenue
comeback
P58.3 billion ($1.04 billion)
16% increase
while
97%
2019’s numbers
The rise was explained through a mix of mass tables focused on domestic players and Electronic Gaming Machines segments that reached 116% of the pre-COVID figures.
mass tables focused
Electronic Gaming Machines
116%
pre-COVID figures
Highlights of Q4 2023 for Solaire
The resort, which also features a casino and is located just five minutes away from SM Mall of Asia, also reached a consolidated net income of P1.3 billion ($23.19 million), which represented an 11% increase compared to the P1.1 billion ($19.62 million) income recorded during the same quarter of 2022.
P1.3 billion
$23.19 million
11% increase
P1.1 billion
$19.62 million
Solaire also reached a gross gaming revenue of P13.8 billion ($242.21 million), which marks a 6% decrease on a YoY.
P13.8 billion
($242.21 million
6% decrease
VIP, mass tables, and EGM gross gaming revenue were situated at P4.4 billion ($75.50 million), P4.1 billion ($73.15 million), and P5.4 billion ($96.34 million), showcasing YoY drops of 7%, 8%, and 4%, respectively
($75.50 million
P4.1 billion
$73.15 million
P5.4 billion
$96.34 million
7%, 8%,
4%,
The resort scored a consolidated EBITDA of P3.9 billion ($69.58 million), signaling a 0.3% YoY decrease.
consolidated EBITDA
P3.9 billion ($69.58 million)
0.3% YoY decrease
FY23 Highlights
As for FY23, Solaire recorded a 24% rise in the consolidated net revenue figure to P48.4 billion ($863.55 million) from the P38.9 billion ($694 million) reached in FY22.
24% rise
P48.4 billion
$863.55 million
P38.9 billion
$694 million
At the same time, the consolidated EBITDA was P19.3 billion ($344.35 million), marking a 35% YoY increase.
P19.3 billion
$344.35 million
35% YoY increase
The popular resort also recorded a consolidated net income of P9.5 billion ($169.49 million), showing an important 85% spike from P5.1 billion ($90.99 million) in FY22.
P9.5 billion
$169.49 million
85% spike
P5.1 billion
$90.99 million
With the help of global visitors and strong domestic support, Solaire’s VIP rolling chip volume registered a 28% rise to P616.4 billion ($10.99 billion), while the mass table drop at P51.2 billion ($913.51 million) marked a 35% rise.
28% rise
P616.4 billion
$10.99 billion
P51.2 billion
$913.51 million
35% rise
The slot coin-in reached P356.7 billion ($6.36 billion). The figure represents a 16% YoY increase. Bloomberry’s chairman and chief executive officer, Enrique K Razon Jr., expressed his pleasure to report their financial and operating results for last year, “which reflect a resilient Philippine economy amid a challenging global economic landscape.”
P356.7 billion
$6.36 billion
16% YoY increase
Bloomberry’s chairman and chief executive officer, Enrique K Razon Jr
