Solaire operator books P3.3 billion net income in first quarter, up 26 percent
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Solaire operator books P3.3 billion net income in first quarter, up 26 percent
MANILA -- Solaire Resort operator Bloomberry Resorts Corporation made P3.3 billion in net income in the first quarter of 2025, up 26 percent, boosted by a one-time non-cash gain from refinancing its P40 billion syndicated loan.
MANILA -- Solaire Resort operator Bloomberry Resorts Corporation made P3.3 billion in net income in the first quarter of 2025, up 26 percent, boosted by a one-time non-cash gain from refinancing its P40 billion syndicated loan.
Stripping out that one-time non-cash gain, core net income slumped 83 percent to P446 million.
Stripping out that one-time non-cash gain, core net income slumped 83 percent to P446 million.
Gross gaming revenue grew 14 percent to P16.8 billion mainly due to the contributions of the newly-opened Solaire Resort North in Quezon City.
Gross gaming revenue grew 14 percent to P16.8 billion mainly due to the contributions of the newly-opened Solaire Resort North in Quezon City.
The company said mass market business continued to expand, as the combined mass tables and electronic gaming machines across both Metro Manila properties grew by 29 percent.
The company said mass market business continued to expand, as the combined mass tables and electronic gaming machines across both Metro Manila properties grew by 29 percent.
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These helped offset lower volumes and hold rates in the VIP segment.
These helped offset lower volumes and hold rates in the VIP segment.
Non-gaming revenue, meanwhile, was up 35 percent to P2.96 billion.
Non-gaming revenue, meanwhile, was up 35 percent to P2.96 billion.
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