Wire ASIA & OCEANIA
Solaire Jumps 62 per cent in Q3
Bloomberry Resorts has said its Solaire casino in the Philippines generated P7.1bn in the third quarter, representing an increase of 62 per cent from P4.4bn.
Consolidated net gaming revenue for the third quarter reached P4.4 billion, representing an increase of seven per cent and 65 per cent on a year-over-year basis.
PHILIPPINES LAND-BASED
AUSTRALIA – Treasury Brisbane has recently installed the latest version of GES' Poker Room Manager. The installation completes the rollout of GES poker room software across all of The Star Entertainment Group's properties creating a consistent and streamlined product offer. GES Poker Room Manager includes Cash Game and Waitlist modules with SMS registration as well as a full Tournament System and Jackpot Bonusing (Jackpots subject to regulatory approval). The latest version comprises upgraded access and security features and Active Directory integration.
Kevin Forde, The Stars' GM Group Product & Strategy, commented: "We are pleased to offer our poker customers an enhanced experience with this best in class poker system. We thank GES for working diligently with The Star in a successful implementation."
AUSTRALIA – Australian slot manufacturer Aristocrat saw its normalised profit after tax boom by 81 per cent to reach $864.7m with revenue increasing by 14 per cent, driven by driven by performance in North America gaming operations and digital.
Digital revenue grew 14.7 per cent to US$1,845m, reflecting the strong performance of the company’s games offering across all three businesses within the portfolio, namely momentum in RAID: Shadow Legends, substantial growth in Lightning Link and Cashman Casino, the successful scaling of EverMerge, and the launch of Mech Arena: Robot Showdown.
In gaming, North America gaming operations revenue increased 55 per cent with the Premium Class III and Class II footprints increasing 13.8 per cent and four per cent respectively. Performance was fuelled by continued penetration of the high- performing products Cash Express: Luxury Line, Buffalo Link, and Crazy Rich Asians. In Australia and New Zealand, revenue increased 42.5 per cent to $400m in reported currency, reflecting strong post- COVID recoveries in first half 2021 and portfolio performance, despite COVID-19 lockdowns across New South Wales and Victoria markets during the fourth quarter.
In International Class III, revenue decreased 66 per cent to $45m in reported currency, with these markets effectively closed for much of the reporting period. There was strong game performance with the Ovation platform, with titles such as Hunt for Neptune’s Gold and Buffalo Xtreme, while growth was also delivered in Class II Premium Gaming Operations off the back of key games including Buffalo Grand, The Walking Dead II, Wild Lepre’Coins and Tarzan.
P22 WIRE / PULSE / INSIGHT / REPORTS
Bloomberry Resorts has said its Solaire casino in the Philippines generated P7.1bn in the third quarter representing an increase of 62 per cent from P4.4bn in the same quarter last year. Shifting quarantine classifications resulted in Solaire being closed to the public for 41 out of 92 days in the quarter. In the 51 days that it was open, Solaire kept to its invite-only policy and operated the casino at a limited capacity as allowed by PAGCOR. VIP rolling chip volume, mass table drop, and EGM coin-in showed signs of recovery, indicating much improved domestic patron confidence.
Enrique K. Razon Jr., Bloomberry Chairman and CEO, said: “In the third quarter, Bloomberry realised higher gaming volumes and revenues despite the intermittent business conditions brought about by shifting quarantine classifications. We are prepared to continue operating in such an environment, but are looking forward to a more stable one should domestic restrictions be eased in line with the increasing vaccination rate.
“Even with now relatively relaxed limitations on mobility, Bloomberry remains committed to
Australia’s casinos will be the quickest to recover in APAC region
Australia
Analysts at ratings agency Fitch believe that casinos in Australia will bounce back the quickest in the APAC region in 2022, outpacing recovery in Singapore, with Malaysia in third place and Macau with its dependence on tourist casino players in fourth place.
Te ratings agency said: “Fitch expects the Australian gaming sector to rebound quickly as the country reopens following the successful vaccination rollout. We expect domestic mass-market gaming revenue to return to pre-pandemic levels and support the casinos’ ongoing resilience, but VIP revenues will remain muted with tightened regulations, including a junket ban. At the same time, the small historical contribution of VIPs to total
safeguarding the health of its onsite customers and team members by maintaining its industry benchmark health and safety security protocols. Last August, Bloomberry, in partnership with the ICTSI Foundation, opened the Solaire-ICTSI Foundation Vaccination Center. Tis large-scale inoculation operation that features both ambulatory and drive-thru vaccination facilities is part of our ongoing contribution to the pandemic response effort. Operations in this new site and the one in Solaire continue to be smooth, efficient, and safe.”
Metro Manila was placed under ECQ from August 6 to August 20, 2021, which was then eased to MECQ from August 20, 2021 to September 15, 2021. On September 16, 2021, Metro Manila quarantine restrictions were eased under a new classification scheme to “GCQ Alert Level 4” until the end of the quarter. Te result was Solaire having been closed to the public for 41 days out of the 92 days during the quarter. On September 16, 2021, Solaire reopened its doors and, keeping to its invite- only policy, operated the casino at a limited capacity as allowed by PAGCOR.
gaming revenue will limit the impact on the casinos’ credit profiles.”
Fitch believes that Singapore will bounce back to three quarters of its 2019 gaming revenues next year, driven by the expected border reopenings. Malaysia’s casino revenues will recover to 65 per cent of pre-pandemic levels in 2022. With a different business model Macau’s sector will remain hampered.
“Local and regional COVID-19 cases will be the primary driver of [Macau] visitation and ultimate performance in 2022,” Fitch said. “To the extent travel between China and Hong Kong recovers faster than our recovery assumption, revenues should outperform. Operators note that pent-up demand exists and transit visas are not an impediment. China’s ‘zero COVID’ policy hinders Macau’s recovery relative to others that have accepted its endemic nature.”
Australia
Ainsworth Game Technology expects to deliver a first half of 2022 profit before tax and items of about A$10m. CEO Harald Neumann said the company’s financial position has strengthened since the close of the prior financial year. Te company received a $5m initial payment from GAN as part of a distribution accord in real money gaming, while Churchill Downs paid $9.4m for the sale of 400 participation machines in July. As a result, it has been able to repay $18m in borrowings. Revenue for the first half of FY22 is expected to be ahead of both the prior corresponding period and the previous six months. Mr. Neumann added: “While domestic markets have been adversely impacted by extended lockdowns, our North American and Latin American operations are delivering growth and improved earnings. AGT’s online activities are also contributing positively with GAN Limited.”
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