March 4, 2024 2 min read


Solaire Resort’s FY23 GGR Hits 97% of Pre-Pandemic Levels

Bloomberry Resorts Corporation has reported that Solaire Resort’s consolidated net revenue in Q4 2023 has gone up 3% compared to 2023 while announcing a spectacular FY23 GGR spike reaching 97% of the pre-pandemic levels

Bloomberry Resorts Corporation, which owns and operates Solaire Resort Entertainment City, has reported consolidated net revenue of Php11.9 billion ($212 million) in Q42023 for the Manila-based integrated destination resort that spreads across an 8.3-hectare site. 

The figure, which marks a 3% year-on-year rise compared to 2022’s fourth quarter, was partially generated with the help of improved non-gaming revenue.

At the same time, Bloomberry also announced that, during FY2023, Solaire’s total gross gaming revenue has made a spectacular comeback at P58.3 billion ($1.04 billion), marking a 16% increase from FY22 while reaching 97% of 2019’s numbers

The rise was explained through a mix of mass tables focused on domestic players and Electronic Gaming Machines segments that reached 116% of the pre-COVID figures

Highlights of Q4 2023 for Solaire 

The resort, which also features a casino and is located just five minutes away from SM Mall of Asia, also reached a consolidated net income of P1.3 billion ($23.19 million), which represented an 11% increase compared to the P1.1 billion ($19.62 million) income recorded during the same quarter of 2022. 

Solaire also reached a gross gaming revenue of P13.8 billion ($242.21 million), which marks a 6% decrease on a YoY. 

VIP, mass tables, and EGM gross gaming revenue were situated at P4.4 billion ($75.50 million), P4.1 billion ($73.15 million), and P5.4 billion ($96.34 million), showcasing YoY drops of 7%, 8%, and 4%, respectively

The resort scored a consolidated EBITDA of P3.9 billion ($69.58 million), signaling a 0.3% YoY decrease

FY23 Highlights 

As for FY23, Solaire recorded a 24% rise in the consolidated net revenue figure to P48.4 billion ($863.55 million) from the P38.9 billion ($694 million) reached in FY22. 

At the same time, the consolidated EBITDA was P19.3 billion ($344.35 million), marking a 35% YoY increase.

The popular resort also recorded a consolidated net income of P9.5 billion ($169.49 million), showing an important 85% spike from P5.1 billion ($90.99 million) in FY22. 

With the help of global visitors and strong domestic support, Solaire’s VIP rolling chip volume registered a 28% rise to P616.4 billion ($10.99 billion), while the mass table drop at P51.2 billion ($913.51 million) marked a 35% rise

The slot coin-in reached P356.7 billion ($6.36 billion). The figure represents a 16% YoY increase
Bloomberry’s chairman and chief executive officer, Enrique K Razon Jr., expressed his pleasure to report their financial and operating results for last year, “which reflect a resilient Philippine economy amid a challenging global economic landscape.”

After finishing her master's in publishing and writing, Melanie began her career as an online editor for a large gaming blog and has now transitioned over towards the iGaming industry. She helps to ensure that our news pieces are written to the highest standard possible under the guidance of senior management.

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