Bloomberry rewards Solaire’s loyal patrons

MANILA, Philippines — Bloomberry Resorts Corp. of tycoon Enrique Razon Jr. is rewarding loyal patrons of Solaire Resort & Casino with shares.

Subsidiary Bloomberry Resorts & Hotels Inc. (BRHI) has been authorized by its board to buy 1.94 million shares of Bloomberry through the stock market at market price.

The shares were purchased by BRHI on Aug. 19 at prices ranging from P7.50 to P7.70 apiece.

Majority or 1.18 million shares were purchased at P7.70 apiece.

“These shares shall be given as a reward to Solaire’s loyal patrons and as part of Solaire’s marketing program,” Bloomberry said.

Bloomberry operates Solaire Resort & Casino in Parañaque and Quezon City as well as Jeju Sun Hotel & Casino in Korea.

The $1-billion Solaire Resort North held its grand opening last May 25, becoming the first and only five-star integrated resort serving northern Metro Manila and adjacent provinces.

Solaire Resort North recorded positive earnings before interest, taxes, depreciation and amortization (EBITDA) of P250 million in the first 37 days of operations.

It recorded a total gross gaming revenue (GGR) of P1.1 billion from mass table games and electronic gaming machine (EGM) businesses in the second quarter.

At Solaire Resort Entertainment City, GGR declined by 12 percent to P13.3 billion in the second quarter from P15.1 billion in the same period last year.

Solaire Resort Entertainment City’s GGR was negatively impacted by lower VIP rolling chip and mass table drop volumes, which was partly offset by strong growth in EGM coin-in and GGR.

Solaire Korea’s Jeju Sun, meanwhile, registered GGR of P35.7 million in the second quarter, up from P4.7 million in the same period last year.