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Bloombery ends dispute with GGAM
Subsidiaries of Enrique Razon’s Bloomberry Resorts Corp. have ended their decade-long dispute with casino management firm Global Gaming Philippines LLC, reaching a universal settlement which includes a $300 million special block sale......»»
Bloomberry opens Quezon City casino in May
The company’s financial and operating results for 2023, “reflect a resilient Philippine economy amid a challenging global economic landscape,” Razon said......»»
Bloomberry open to selling Korean casino resort interests
Bloomberry [BLOOM 11.22 ?3.4%] [link] issued a clarification to a Biz Buzz article to say that it is “open to the possibility of selling its interest in Jeju Sun Hotel and Casino”, but that there is “no imminent deal with respect to [its] sale”......»»
Solaire to roll out Quezon City casino in 2024
Integrated casino resorts operator Bloomberry Resorts Corp. is on track with the opening of its casino in Quezon City, its second casino resort in the Philippines......»»
Razon is 6th most influential person in Asian gaming sector
Ports and casino tycoon Enrique Razon is among the Most Influential Persons in the high stakes world of gaming in the Asian region while his Bloomberry Resorts Corp. has hit the jackpot in terms of accolades......»»
Bloomberry earnings soar 106 percent to P8.3 billion in 9 months
Bloomberry Resorts Corp., the Razon-led casino resorts operator, saw its consolidated net income soar by 106 percent to P8.3 billion in the nine months to September......»»
New VMMC wing seen
The Veterans Memorial Medical Center will soon have more patient rooms with the start of construction for the Magiting Veterans Wing through a P60-million grant from two licensees of the Philippine Amusement and Gaming Corporation. The construction of the new wing was initiated by the Philippine Military Academy Magiting Class of 1970 with funding support from Bloomberry Cultural Foundation Inc. and Newport World Resorts Foundation Inc. The two foundations, representing Solaire Resort and Newport World Resorts, respectively, each released P30 million with PAGCOR’s approval. Officials said that the project will be carried out in two phases — the first will be sponsored by BCFI and covers civil, structural, mechanical, electrical, masonry works and roof deck waterproofing while the second phase will be funded by NWRFI and consists of works, fixtures and devices. The Magiting Wing will have a total floor area of 1,379.84 square meters and will house 12 new private rooms inclusive of four suites, a nurse station, lounge area, hallway, storage, access ramp and connecting bridge to the main hospital building. PAGCOR chairman and CEO Alejandro H. Tengco said the agency approved the grant from the casino foundations because of the project’s noble objective. “PAGCOR recognizes the patriotism and sacrifice of Filipino veterans who dedicated their youth, vigor, strength and even lives for our country. By supporting this noble project, we show our gratitude to our modern-day heroes and their families,” Tengco said. He added that all integrated resort casino licensees in the country are required to put up a foundation to fund Corporate Social Responsibility programs on education infrastructure, health facilities, environmental preservation and cultural heritage restoration. Two percent of the licensees’ gross gaming revenues from non-junket tables automatically go to such foundations. Defense Secretary Gilberto Teodoro, who graced the ceremonial concrete pouring for the project, expressed gratitude to the project supporters. “We will provide the necessary maintenance and other operating expenditures to see to it that your donations will not go to waste,” said Teodoro, adding that other plans to improve the welfare of Filipino veterans include decentralizing the VMMC’s services and the upskilling of hospital personnel so that doctors and specialists can focus more on caring for patients. “No soldier ever retires. They are always a part of the system. They provide guidance and support to our active personnel hence their job as a soldier is never done,” Teodoro said. Aside from BCFI and NWRFI, other major sponsors of the Magiting Veterans Wing project are DMCI, San Miguel Corporation and some retired military personnel. The post New VMMC wing seen appeared first on Daily Tribune......»»
Lady Luck smiles on EKR, Bloomberry
If the Asian gaming industry were a game of poker, ports and casino tycoon Enrique K. Razon or EKR has the Royal Flush, as he beat other gaming tycoons in Asia at the recently concluded Inside Asian Gaming Academy Awards......»»
Wright Park gets PAGCOR-funded light show
BAGUIO CITY — Visitors of the Upper Wright Park here were treated to a dazzling spectacle after the much-awaited Water Fountain Music and Lights Show was formally inaugurated at the Pool of Pines last 8 September. The city’s newest attraction, whose project concept was approved by the Philippine Amusement and Gaming Corporation, was funded by the Bloomberry Cultural Foundation Inc. in the amount of P19 million. BCFI is the corporate social responsibility arm of Solaire Resort and Casino. Baguio’s city government sought the assistance of PAGCOR in the installation of the Water Fountain Music and Lights Show at the Pool of Pines in line with its efforts to breathe new life into the Upper Wright Park while preserving its rich heritage and beauty. According to BCFI Executive Director Filipina Laurena, they readily agreed to partner with the local government of the country’s “Summer Capital” in carrying out the project as they believe in its potential to reinvent the Upper Wright Park’s identity as one of the city’s most visited spots. “Baguio City has always been one of the centers of tourism in the Philippines with its cool climate and scenic attractions. Without a doubt, this Water Fountain Music and Lights will not only add to its charm but also provide every visitor a captivating experience, uniting the harmony of music, the magic of lights and the serenity of the park’s iconic Pool of Pines,” she said. The Water Fountain Music and Lights Show project is part of the casino licensees’ provisional obligation to allot a portion of their revenues to their foundations every month to fund projects related to education, cultural heritage, environment and health. The post Wright Park gets PAGCOR-funded light show appeared first on Daily Tribune......»»
Water Fountain Music & Lights Show opens in Baguio park
BAGUIO CITY — Visitors of Upper Wright Park were treated to a dazzling spectacle after the much-awaited Water Fountain Music and Lights Show was formally inaugurated at the Pool of Pines on 8 September 2023. The city’s newest attraction, whose project concept was approved by the Philippine Amusement and Gaming Corporation (PAGCOR), was funded by the Bloomberry Cultural Foundation Inc. (BCFI) in the amount of P19 million. BCFI is the corporate social responsibility arm of Solaire Resort and Casino. Baguio’s city government sought the assistance of PAGCOR in the installation of the Water Fountain Music and Lights Show at the Pool of Pines in line with its efforts to breathe new life into Upper Wright Park while preserving its rich heritage and beauty. “We’re very grateful to all those who made this project possible. This vibrant and lively attraction will certainly enhance further our city’s reputation as a premier tourist destination for both local and international visitors,” said Mayor Benjamin Magalong, who was joined by BCFI representatives and other local officials at the event. According to BCFI Executive Director Filipina Laurena, they readily agreed to partner with the local government of the country’s “Summer Capital” in carrying out the project as they believe in its potential to reinvent the Upper Wright Park’s identity as one of the city’s most visited spots. “Baguio City has always been one of the centers of tourism in the Philippines with its cool climate and scenic attractions. Without a doubt, this Water Fountain Music and Lights will not only add to its charm but also provide every visitor with a captivating experience, uniting the harmony of music, the magic of lights, and the serenity of the park’s iconic Pool of Pines,” she said. The Water Fountain Music and Lights Show project is part of the casino licensees’ provisional obligation to allot a portion of their revenues to their foundations every month to fund projects related to education, cultural heritage, environment, and health. The post Water Fountain Music & Lights Show opens in Baguio park appeared first on Daily Tribune......»»
Razon’s Bloomberry bares H1 profit surge
After returning to profitability last year, Bloomberry Resorts Corp., the operator of Solaire Resort & Casino, still sustained its momentum even throughout the first half of the year. In a report on Wednesday, the publicly listed holdings firm reported a P6.4 billion consolidated net income during the period, a 160 percent surge from last year’s P2.5 billion. San the impact of a P356.6 million one time gain on sale from the disposition of an asset, the company noted that consolidated net income would have increased by 145 percent. “All our business segments continued to deliver growth that pushed consolidated net revenues, EBITDA, and net profit in the first half to levels exceeding that of the same period in 2019,” Enrique K. Razon Jr., Bloomberry Chairman and CEO said in the report. Solaire gaming revenue surges “We anticipate that the growth momentum we have so far seen will continue well into the next six months and in the years ahead,” he added. In terms of consolidated net revenues, Bloomberry posted P25.6 billion, which represented a 48 percent growth against P17.2 billion in the same period last year. At Solaire, total gross gaming revenue soared 41 percent to P31.2 billion annually — driven by the recovery in domestic mass table games and electronic gaming machines segments. Compared to the pre-pandemic figures in 2019, Solaire’s first-half GGR represented a 110 percent jump. The casino’s non-gaming revenues from its hotel, food, and retail segments reached P4 billion, up 51 percent. As of the end of June, Bloomberry logged a consolidated cash and cash equivalents balance of P44.9 billion. Total outstanding long-term debt was P98.1 billion, which represented the balance of the current and non-current portions of the amended P73.5 billion and P40.0 billion Syndicated Loan facilities. Meanwhile, the total equity attributable to equity holders of the parent company was P39.9 billion. The company has already drawn P18.2 billion from the P40 billion Syndicated Loan Facility, higher by P8.7 billion as the company drew from the facility in the second quarter to partially finance the construction of Solaire Resort North scheduled to launch by the first quarter of 2024. The post Razon’s Bloomberry bares H1 profit surge appeared first on Daily Tribune......»»
Bloomberry profit jumps over 4-fold to P3 billion in Q1
Enrique Razon’s Bloomberry Resorts Corp., the listed casino and integrated resorts operator, is on a winning streak, as it sustained its remarkable business recovery in the first quarter......»»
Asian tourists trickling back into Razon-led casino resorts
Tycoon Enrique Razon’s Bloomberry Resorts Corp., the operator of integrated casino resort Solaire Resort & Casino, has seen the return of South Korea and Chinese tourists......»»
Bloomberry targets Quezon City casino opening in 2024
Listed integrated casino resorts operator Bloomberry Resorts Corp. is back on track and is aiming to open its casino in Quezon City by 2024, according to its chairman Enrique Razon......»»
Bloomberry to build 3rd casino in Cavite
Tycoon Enrique Razon’s Bloomberry Resorts Corp. will develop its third integrated casino project after Solaire Resort North in Quezon City commences operations early next year......»»
Bloomberry returns to profitability in 2022
Enrique Razon-led Bloomberry Resorts Corp., whose subsidiaries own and operate Solaire Resort & Casino and Jeju Sun Hotel & Casino, successfully returned to profitability last year......»»
Bloomberry Q2 profit up 75%
The Razon Family’s resort/casino company easily beat its Lockdown 1.0 performance, but failed to outperform its Q1/21 numbers due to the reimposition of ECQ/MECQ......»»
Bloomberry incurs P780 million loss in Q1
Bloomberry Resorts Corp., the listed casino operator of tycoon Enrique Razon, reported a net loss of P780.8 million in the first quarter, a reversal of the P1.4 billion net profit recorded a year ago......»»
Bloombery defers completion date of QC casino-hotel
Bloomberry Resorts Corp., the owner and operator of Solaire Resorts and Casino, said Thursday the target completion of its casino project in Quezon City would be deferred to 2023 because of the pandemic......»»
Bloomberry incurs P8.3-billion loss as casino sales fall 62%
Bloomberry Resorts Corp., the owner and operator of Solaire Resort & Casino in Paranaque City, said Monday it incurred a net loss of P8.3 billion in 2020, a turnaround from the P9.9-billion net income it posted in 2019 as gaming operations were severely impacted by the pandemic......»»