• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 26 June 2022
  • 中文中文
  • 日本語日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Bloomberry Resorts boss Razon flags expected delays to Solaire North opening

Newsdesk by Newsdesk
Mon 22 Jun 2020 at 07:05
Enrique K Razon JR

Bloomberry Resorts Chairman and CEO Enrique K Razon Jr.

170
SHARES
3.5k
VIEWS
Print Friendly, PDF & Email

Bloomberry Resorts Corp, owner and operator of Manila market leader Solaire Resort & Casino, has revealed it doesn’t expect to open its second Philippines IR, Solaire North, until late 2022 or early 2023.

The delay to Bloomberry’s development timeline, which had previously targeted early to mid-2022 for completion of its new Quezon City property, was detailed by Chairman and CEO Enrique Razon Jr during the company’s annual stockholders meeting, held online late last week.

Discussing the development timeline, Razon said, “We are continuing with the construction of Solaire North in Quezon City which, given the delay due to the lockdown, should be completed by the end of 2022 or early 2023.

“Construction has partially restarted and the period of lockdown can be reasonably added to the completion date.”

An artist’s impression of Solaire North.

Bloomberry resumed partial operations at Solaire Resort & Casino to “very limited capacity” following the latest easing of some restrictions in Manila on 15 June but is expecting the impact of COVID-19 on its financials to continue through the remainder of 2020.

The company recently reported a 13% decline in consolidated net revenue to Php9.4 billion (US$186.5 million) and 38% fall in net profit to Php1.4 billion (US$27.8 million) for the three months to 31 March 2020.

“Solaire just opened to very limited capacity and it is still too early to give any indication on how the business will perform,” Razon said. “Our number one priority right now is to ensure the safety and well-being of our guests and employees.

“The record performance of the company in 2019 will no longer reflect our short-term future performance, until the pandemic is over, in one way or another, whether it runs its course or a vaccine is created in mass quantities. When this may happen is simply a wild guess at this point.”

However, Razon added that Bloomberry was “still on the lookout for opportunities whose potential and valuation makes sense in this environment,” and suggested the delay in Solaire North’s opening could prove beneficial.

“We strongly believe that the timing of Solaire North could well-coincide with a full economic recovery,” he said.

RelatedPosts

MACAU: This COVID outbreak is NOT the apocalypse

MACAU: This COVID outbreak is NOT the apocalypse

Fri 24 Jun 2022 at 07:03
Total confirmed COVID cases in Macau reaches 110, restaurants cancel dine-in meals

Total confirmed COVID cases in Macau reaches 110, restaurants cancel dine-in meals

Thu 23 Jun 2022 at 21:20
Survival of the Fittest?

Macau GGR to reach just 80% of 2019 levels in 2024: Credit Suisse

Thu 23 Jun 2022 at 18:47
PAGCOR reveals substantial POGO revenue rise in 2018 as enforcement role defended

PAGCOR yet to collect US$43 million in unpaid fees from POGOS: report

Thu 23 Jun 2022 at 18:24
Load More
Tags: Bloomberry Resorts Corporationcovid-19Enrique K Razon JRManilaPhilippinesSolaireSolaire North
Share86Share10
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial: The Philippines: Asia’s rising star

Editorial: The Philippines: Asia’s rising star

by Ben Blaschke
Mon 30 May 2022 at 23:55

Macau has for the best part of two decades been recognized as the undisputed king of Asia when it comes...

We’re Back!

We’re Back!

by Ben Blaschke
Mon 30 May 2022 at 23:39

While Macau’s operators have reached nine consecutive quarters of substantial GGR losses, the rest of Asia is opening up and...

Into the Sunset

Into the Sunset

by Pierce Chan
Mon 30 May 2022 at 23:29

Pawnbroking has a long history in Macau, dating all the way back to the late Qing Dynasty. The rapid development...

Metaverse: The ultimate destination marketing tool?

Metaverse: The ultimate destination marketing tool?

by Victoria White
Mon 30 May 2022 at 23:17

In the first of a two-part series, MdME’s Victoria White takes a closer look at the rising world of metaverses...

Related Posts

Confirmed COVID cases in Macau outbreak up to 170, “high chance” of third mass testing

Confirmed COVID cases in Macau outbreak up to 170, “high chance” of third mass testing

by Pierce Chan
Fri 24 Jun 2022 at 19:47

The number of confirmed cases from the ongoing COVID-19 outbreak in Macau has reached 170, of which 106 are women and 64 men. They are aged between 8 months and 89 years old, with 41 showing symptoms and 129 asymptomatic,...

MACAU: This COVID outbreak is NOT the apocalypse

MACAU: This COVID outbreak is NOT the apocalypse

by Andrew W Scott
Fri 24 Jun 2022 at 07:03

It’s 5am on Friday 24 June 2022 as I write this. I’ve just returned home from the Macau Cultural Centre, where I’ve taken my third COVID test in four days – two nucleic acid tests (NAT) with a swab jammed...

Pacific puzzle

IPI inks deals to lease out 265 hotel rooms and villas, launch new shopping mall at Saipan resort

by Ben Blaschke
Fri 24 Jun 2022 at 05:58

Imperial Pacific International Holdings (IPI) has entered into agreements with two independent third parties to lease a majority of its hotel rooms and villas, and to set up a shopping mall, at its Saipan integrated resort, Imperial Palace‧Saipan. This is...

SJM to transfer 1,000 employees from Grand Lisboa to new Cotai IR

SJM completes refinancing of syndicated loan facilities

by Ben Blaschke
Fri 24 Jun 2022 at 05:35

Macau concessionaire SJM Resorts says it has successfully completed the refinancing of up to HK$19 billion (US$2.44 billion)in syndicated loan facilities – extending its liquidity runway while it navigates the COVID-19 pandemic. The new facility agreement, led by Industrial and...


HKUST

HKUST

Simple Play

IAG

© 2005-2022
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • Contributors
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About

© 2005-2022
Inside Asian Gaming.
All rights reserved.