[ad_1]
Bloomberry Resorts Corp., the operator of Solaire Resort and Casino, said it incurred a net loss of P2.5 billion from January to September, a reversal from last year’s profit of P3.9 billion, as its casinos They were closed during closing.
Solaire continued to operate in a limited trial as allowed by authorities. The trial only involves extended-stay hotel guests and select guests.
Gross Gaming Revenue (GGR) at Solaire was P4.4 billion during the third quarter, a decrease of 74 percent from P17.1 billion in the same period last year. GGR was further affected by the return to the enhanced community quarantine modified from August 4 to August 19, which resulted in the closure of its massive game room.
Consolidated net income was P3.2 billion, a 76 percent drop from last year’s figure.
“Our third quarter results reflect the difficult business environment caused by the pandemic, which has negatively affected international travel and the overall demand for leisure and entertainment services. In the short term, we expect to see a recovery as national quarantine restrictions are further lowered, ”said Enrique K. Razon Jr., president and CEO of the company.
Solaire’s nine-month gross gaming revenue was P17.3 billion, 62 percent less than last year’s figure.
Solaire’s VIP, massive table and electronic gaming machines fell at least 50 percent over the nine-month period.
Its game room was closed on March 16 after the government placed the National Capital Region under an enhanced community quarantine to control the spread of Covid-19.
“Despite the challenges we face, Bloomberry remains committed to ensuring the health and safety of our team members and guests. Solaire’s security protocols have been improved with the latest technologies, while the sanitation of the casino, rooms, dining rooms and public spaces does not stop; we go the extra mile and provide regular RT-PCR tests to our team members and make them available to guests, ”Razon said.
“With these investments, which have reached more than P300 million, we hope to maintain our leadership in the market and become the gold standard of the tourism industry in hygiene and sanitation.”
