Reports PHILIPPINES MARKET REPORT Solaire Resort Revenues (PhP) GGR
Net Gaming Revenues EBITDA
Net income (loss)
2021 27.6bn
18.7bn 5.5bn
(2.9bn)
City Of Dreams Resort Revenues (US$) 2022
Operating revenues EBITDA
396.3m 146.9m
Okada Manila Resort Revenues (PhP) 2022
GGR
Total Revenue EBITDA
34.3bn 37.2bn 8.6bn
2020 22.6bn
14bn 1.8bn
(7.3bn) 2019
59.8bn 38.1bn 20.2bn 10.7bn
2021
268.5m 88.9m
2020
224.6m 28.9m
2019
602.4m 247m
2021 18.9bn
19.6bn 2.3bn
Newport World Resorts (Travellers) Revenues (PhP) 2022
GGR
Net gaming revenue EBITDA
31.8bn 21.6bn 7.6bn
Te four IRs are the City of Dreams Manila, Solaire Resort and Casino, Okada Manila and Newport World Resorts (although this last property is located near Manila Airport it is considered part of Entertainment City for licensing purposes).
Revenues were severely impacted by Covid restrictions. In March 2020 PAGCOR suspended all casino operations until June when they operated under a ‘dry run’ situation with in- house and invited guests. In March 2021 operations were again suspended opening in May with further closures in August to September that year.
Entertainment City revenues dropped to just PhP1.95bn in the Q2 2020 compared to PhP40.9bn for the same quarter the year previously.
SOLAIRE RESORT & CASINO
Solaire was the first IR to open back in 2013 and houses the tallest hotel in Manila. Tere are two
P42 WIRE / PULSE / INSIGHT / REPORTS
Bloomberry Resorts Corporation, through its subsidiaries Sureste Properties and BRHI, owns and operates the Solaire Resort. Te company
2021 16.7bn
10.3bn -0.6bn
2020 15.3bn
15.9bn -1.2bn
2020 13.3bn
9.4bn 0.4bn
2019 39.7bn
42.3bn 6.8bn
2019 27.6bn
21.5bn 6.1bn
five-star hotels – Bay Tower with 488 rooms and Sky Tower with 312 rooms - plus theatre, Te Shoppes mall, restaurants, and bar. Te casino has 355 gaming tables and 1,800 slots.
In 2019, the Solaire saw a GGR of PhP59.8bn (US$1bn) which was 36 per cent of Entertainment City resorts revenues. In 2021 GGR was PhP27.6bn (US$485.8m).
In 2021, VIP revenues posted a decline of 16 per cent compared to the previous year (PhP6.7bn compared to PhP8bn) whilst mass table drop increased by 54 per cent to PhP7.3bn in 2020 from PhP11.3bn in 2021. Slots revenue also increased from PhP7.2bn to PhP9.5bn.
Hotel, food and beverage revenues amounted to PhP1.4bn in 2021 (a 12 per cent drop on 2020 data) whilst retail saw a four per cent drop to PhP1.8bn in 2021.
also owns the Jeju Sun Hotel and Casino in South Korea through Solaire Korea Ltd.
Te group is constructing the Solaire Resort North which is due to open in the second quarter of this year in Quezon City. Te project has been delayed since construction began in mid-2019. Te property will feature a hotel tower with 526 rooms plus gaming area with 200 tables and 3,000 slots.
CITY OF DREAMS
City Of Dreams opened in 2014 and includes six hotel towers with three hotel brands – the Nuwa with 254 rooms, Hyatt Regency with 364 and Nobu with 321 rooms. Te resort is also known for its DreamPlay Family Entertainment Centre and CenterPlay lounge with live performances.
Te casino has 274 tables and 2,266 slots (end 2022) with its iconic Fortune Egg dome opened in 2019 which houses the VIP and exclusive games area. It is owned by Belle Corporation and operated by Melco Resorts which also operates resorts in Macau. Operating revenues in 2022 amounted to US$396.3m compared to US$602.4m in 2019.
Te Q2 2023 operating revenues amounted to US$116.4m compared to US$11.7m in Q2 2022. Te casino rolling chip volume was US$520.2m for Q2 2023 compared to US$771.m for the same
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164
