Bloomberry banks on mass gaming market

BLOOMBERRY Resorts Corp. is banking on the continued strength of the mass gaming market and pickup in regional tourism to sustain its growth momentum this year, a top executive said Thursday.

Bloomberry chairman Enrique Razon Jr. said during the company’s annual stockholders meeting Thursday the company is now back on track with its growth trajectory, with the mass gaming segment poised to set new highs in 2023 and contribute the lion’s share of revenues.

“We anticipate that this segment will grow steadily on the back of sustained expansion of the local economy, which is forecasted to grow between 6 and 7 percent this year,” Razon said.

Bloomberry returned to profitably in 2022 after two years of losses as the domestic-oriented mass table games and slots segments reached 100 percent of pre-Covid levels.

Razon said with the easing of COVID-19 restrictions in China and South Korea, the company saw an increase in number of travelers from these two countries and other markets in the region.

“So steadily we are seeing increases in inflow from both countries and other countries as well. We expect and hope that this trend continuous through the year,” Razon said.

He said Bloomberry is also enhancing its non-gaming business to accommodate more domestic and international patrons in its premier hotel, world class restaurants and retail developments.

“We aim to maintain Solaire as the paramount entertainment leisure destination in the Philippines by ramping up the number and quality of shows at The Theatre and opening exciting new luxury retail offerings in The Shoppes,” Razon said.

Razon said the construction of a second integrated casino and hotel in Quezon City continued to pick up after the project was delayed amid the pandemic and the global supply chain problem.

The $1-billion Solaire Resort North is now slated to open by the first quarter of 2024.