GGRAsia – K-pop star Psy now Solaire Resort brand ambassador

K-pop star Psy now Solaire Resort brand ambassador

Nov 27, 2024 Newsdesk Industry Talk, Latest News, Philippines

Philippines-listed Bloomberry Resorts Corp has announced South Korean rapper Psy (pictured, left) as the brand ambassador for the group’s two casino resorts in the country.

The company runs Solaire Resort & Casino in the Philippine capital Manila, and in May opened Solaire Resort North, a gaming complex in Quezon City, northeast of Manila.

The partnership follows Psy’s recent “full-house performance” at The Theatre at Solaire Resort & Casino on September 14, which the company said showcased the K-pop star’s popularity in the Philippines.

The announcement cited Cyrus Sherafat (pictured, right), Solaire Resort executive vice president and head of gaming, as saying: “We are delighted to welcome Psy as our brand ambassador. His artistry and charisma resonate with audiences not just in Korea but around the world.”

Mr Sherafat said the partnership with Psy showed the group’s “commitment to delivering unforgettable experiences” to its guests and deepens the “engagement with the vibrant Korean community in the Philippines”.

According to the release, Psy’s role as brand ambassador will encompass various promotional activities, “with the aim of enhancing Solaire Resort’s cultural and entertainment offerings”.

South Korea remains the Philippines’ top source market for foreign tourists, with nearly 1.32 million arrivals in the first 10 months of 2024, accounting for nearly 27.0 percent of the total. The tally from that market was up by 11.4 percent year-on-year.

A number of investment analysts have suggested that, so far this year, the VIP segment at the country’s casinos was led by South Korean punters.

Bloomberry Resorts posted a consolidated net loss of under PHP470.2 million (US$8.0 million) for the three months to September 30, compared with a PHP1.95-billion profit a year earlier.

The firm reported consolidated net revenue of PHP13.67 billion in the third quarter, down 27.2 percent from the prior-year quarter. Operating costs and expenses for the period rose by 55.2-percent year-on-year, to PHP11.67 billion.