A $1 billion casino resort, Bloomberry, has officially opened in the Philippines
According to Bloomberry, the 38-story resort features 2,669 slot machines and 163 table games spread across four levels, covering a total area of approximately 13,000 square meters. The resort offers 526 rooms, including suites.
The opening ceremony was attended by President Ferdinand Marcos Jr. and Alejandro Tengco, the chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR). The president stated that the government aims to position the Philippines as a premier tourist destination.
"We are gradually witnessing how hotels, restaurants, leisure spots, and tourist attractions are steadily working to revive travel, welcoming 5.45 million tourists in 2023. This is more than double the 2.65 million visitors recorded in 2022. I am confident that Solaire Resort North will support our desire to capitalize on this advantage and enhance our standing in the global hospitality sector," said the Philippine president.
Alejandro Tengco noted that the opening of the casino resort marks a new era for both the gaming and tourism industries in the country. He added that the regulator will continue to work towards creating more jobs and better opportunities for Filipinos, particularly those employed in tourism and leisure.
Solaire Resort North is Bloomberry's second casino resort in the Philippines, following the opening of Solaire Resort & Casino in Entertainment City, Manila, in 2013. The company also operates the Jeju Sun Hotel & Casino in Jeju, South Korea.
In 2023, Bloomberry reported an 85% increase in net consolidated profit, reaching $170 million (₱15.6 billion). In March, Maybank Securities Inc. indicated that the new property could contribute an additional 9% to the company's gross gaming revenue and 14% to its overall annual income in 2024 and 2025, respectively.
Notably, the Philippines' gross gaming revenue reached a record ₱81.7 billion in the first quarter of 2024.
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