Solaire Resort North, a new casino complex in Quezon City, northeast of Manila, is set to launch VIP operations in early September, the property’s promoter has confirmed to GGRAsia.
Philippines-listed Bloomberry Resorts Corp opened on May 25 the Solaire Resort North complex (pictured). The US$1.0-billion property features 526 rooms and suites, and its casino currently offers 2,669 electronic gaming machines and 163 tables across four levels, according to the firm.
A spokesperson for Bloomberry told GGRAsia on Friday that the company couldn’t confirm yet the number of tables that would be allocated to the new VIP areas.
GGRAsia has learnt that Solaire Resort North will have VIP gaming venues on its 36 and 37 floors. An opening ceremony is scheduled for the evening of September 8.
Bloomberry reported on Wednesday consolidated net income of just under PHP1.34 billion (US$23.7 million) for the three months to June 30. The company also runs the Solaire Resort & Casino in the Philippine capital Manila.
The firm’s second-quarter consolidated earnings before interest, taxation, depreciation, and amortisation (EBITDA) stood at just under PHP3.64 billion, down 26.2 percent sequentially, and 33.4-percent lower than a year earlier.
Enrique Razon, Bloomberry’s chairman and chief executive, said in prepared remarks issued with the latest results that the company was “pleased to report” that Solaire Resort North “recorded positive EBITDA of PHP250 million in its first 37 days of operations”.
He added: “We are in the early stages of the property’s ramp-up and are happy with the pace, especially as we compare it to the ramp of Solaire in Entertainment City over 11 years ago.”
Solaire Resort North generated mass table drop of PHP2.25 billion in its just over one month of contribution to the second quarter. Slots there produced coin-in of nearly PHP10.38 billion.
In a separate announcement on Wednesday, Bloomberry said it was establishing an “annual dividend policy”, in order to “further enhance shareholder value”.
The announcement noted: “The company anticipates that Solaire Resort North will augment cash flows generated by the group as it ramps up in the coming quarters.”
