The game has definitely changed.
After only 15 days of operation, Bloomberry Resort Corp’s Solaire Manila has earned Php578.3 million in revenues, according to a disclosure the casino operator made to the Philippines Stock Exchange.
For the first quarter of the year, Bloomberry did report a net loss of Php1.06 billion, 688.6 percent higher than its numbers in the first three months of 2012. But take that with a dose of perspective because the net loss can be attributed to higher pre-operating expenses leading up to the resort’s highly anticipated opening last March 15. Plus, operating expenses after opening, as well as cost of sales (Php32.2 million), interest and financing charges (Php42.4 million), and foreign exchange losses (Php38.2 million) during the first 15 days it opened to close out March also attributed to the rise in net losses.
CalvinAyre.com reached out to representatives from Bloomberry Resorts for comments but has yet to receive a reply at press time.
Breaking down its revenue pie, the biggest chunk came out from its gaming business with Php495.6 million in revenues, representing 85.6 percent of the total revenue it earned in the last two weeks of March. Meanwhile, its hotel and dining outlets accounted for Php57.1 million in revenue or 9.8 percent of its total revenues. Retail sales, lease of rentals, and communication and transportation services also contributed in the total revenue generated by the casino operator in its first 15 days of operation.
Now that it’s gotten the early day jitters seemingly out of the way, Bloomberry is moving forward with improving Solaire’s gambling business. Junket operators have already been lined up, which will target a steady stream of foreign VIP players to play in the casino. Promotional programs have also been started, as well as strategic marketing activities, all of which are targeted to increase the establishment’s profile both in the Philippines and in the entire Asian region.
