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Solaire Resort North shows positive EBITDA in first month of operation but VIP weakness drags Bloomberry Q2 results
Bloomberry Resorts Corp reported a 4% year-on-year decrease in consolidated gross gaming revenues to Php14.5 billion (US$255 million) in the three months to 30 June 2024, with the first contribution from recently opened Solaire Resort North in Quezon City not enough to counter a substantial decline in VIP volumes at the company’s original Entertainment City property.
According to information released Wednesday, Solaire Resort North booked 37 operating days post-opening in 2Q24, in which time it generated total GGR of Php1.1 billion (US$19.3 million) from its mass table games and electronic table games businesses. The property was also EBITDA positive, posting Php250.1 million (US$4.4 million) despite a variety of gaming and non-gaming facilities having not yet launched during the period.
Despite this, consolidated results were subdued, with Bloomberry reporting a 33% decline in group-wide EBITDA to Php3.6 billion (US$63.2 million) while net income fell to Php1.3 billion (US$22.8 million) from Php3.4 billion (US$59.7 million) a year earlier.
The company pointed specifically to continued weakness in VIP, where rolling chip volume at Solaire Resort Entertainment City fell by 32% to Php117.9 billion (US$2.07 billion) and GGR by 21% to Php3.74 billion (US$65.7 million).
“In the second quarter and first half of 2024, our mass gaming revenues across two properties increased year-over-year despite the very high base set in the first half of 2023,” said Bloomberry Chairman and CEO, Enrique K Razon Jr.
“However, continued weakness in the VIP segment as well as pre-operating and operating expenses at Solaire Resort North resulted in a decline in consolidated EBITDA and net income.
“Despite our weaker consolidated year-over-year performance, I am pleased to report that Solaire Resort North recorded positive EBITDA of Php250 million in its first 37 days of operations. We are in the early stages of the property’s ramp-up and are happy with the pace, especially as we compare it to the ramp of Solaire in Entertainment City over 11 years ago.
“As revenues at our second property grow, we anticipate further synergies and positive operating leverage to contribute to our group’s profitability in the coming quarters.”
Solaire Resort North’s GGR result included mass table GGR of Php508 million (US$8.9 million) and EGM GGR of Php629 million (US$11.0 million), while hotel occupancy was 20.1% due to a soft opening phase.
For the first six months of 2024 combined, Bloomberry reported consolidated GGR of Php29.2 billion (US$513 million), down 6% year-on-year, with consolidated EBITDA of Php8.6 billion (US$151 million), down 23%, and net income of Php4.0 billion (US$70.2 million), down 38%.
The post Solaire Resort North shows positive EBITDA in first month of operation but VIP weakness drags Bloomberry Q2 results appeared first on European Gaming Industry News.
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CT Interactive Achieves A1 Certification for Greece
CT Interactive has achieved A1 Supplier Certification in Greece, awarded by the Hellenic Gaming Commission. This significant milestone underscores the company’s strategic commitment to expanding its presence in regulated European markets. The A1 certification enables CT Interactive to offer its top-tier gaming portfolio to licensed operators across Greece.
Focused on enhancing the player experience, CT Interactive delivers a meticulously curated selection of games that have proven successful in the market, including titles like Win Storm, Lucky Clover, The Big Chilli, Chilli Fruits and many others. By prioritising quality and player satisfaction, each game is designed to provide immersive, engaging experiences.
Continuously evolving to meet player preferences and utilising cutting-edge technology, CT Interactive ensures a seamless and rewarding gaming journey. This commitment not only fosters long-term player loyalty but also reinforces the company’s dedication to creating lasting value while maintaining the highest standards of performance and entertainment.
The post CT Interactive Achieves A1 Certification for Greece appeared first on European Gaming Industry News.
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Betsoft Unveils Exclusive Adventure in Coins of Slotshammer – Hold & WinTM for SlotsHammer
Betsoft Gaming has released Coins of Slotshammer – Hold & Win, a new 3×3 video slot crafted specifically for SlotsHammer. This branded title invites players to explore the mysteries of ancient Egypt, where treasures and timeless beauty come to life with dynamic spins and rewarding gameplay.
Featuring Betsoft’s enhanced Hold & Win mechanic, players can unlock exciting features by collecting BONUS and RA BONUS symbols. The RA BONUS symbols lock in place during the Hold & Win feature, while additional symbols reset the respin counter, creating extended opportunities for rewards. WILD symbols, appearing across all three reels, help complete symbol combinations, while the Chest of Gold offers a chance to activate the Hold & Win rounds during the base game, making every spin an engaging experience.
Fernando Van Velzen, Head of Account Management at Betsoft, said: “Coins of Slotshammer – Hold & Win showcases Betsoft’s dedication to delivering high-quality, exclusive branded content. It’s been a pleasure to collaborate with SlotsHammer to create a game that captures both the excitement of exploration and the innovation our players expect. We’re confident this release will resonate deeply with their audience.”
George Merodoulakis, Group CCO of Campeόn Gaming, said: “We are thrilled to announce our latest project with Betsoft, underscoring the power of collaboration in driving innovation. Partnering with industry leaders like Betsoft enables us to deliver engaging, customized content to our players. By combining our strengths, we’re not only addressing the evolving demands of the market but also setting new standards for entertainment. We look forward to the exciting opportunities this collaboration will bring to our customers and partners.”
The post Betsoft Unveils Exclusive Adventure in Coins of Slotshammer – Hold & WinTM for SlotsHammer appeared first on European Gaming Industry News.
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Three Nigerian Tennis Players Suspended Under Tennis Anti-Corruption Programme
The International Tennis Integrity Agency (ITIA) has confirmed that three Nigerian tennis players have been sanctioned for breaches of the Tennis Anti-Corruption Programme (TACP).
The sanctions are linked to a criminal case heard in 2023 involving a match-fixing syndicate in Belgium. Collaboration between the ITIA and Belgian authorities led to a five-year custodial sentence for the leader of the syndicate, Grigor Sargsyan.
The three players’ cases were ruled on by independent Anti-Corruption Hearing Officer (AHO) Amani Khalifa.
35-year-old Henry Atseye, who reached a career-high world singles ranking of 1518 in September 2015, admitted to six breaches of the TACP across 2017 and 2018. The player admitted to collaborating with Karim Hossam (who was issued a lifetime ban in 2018) to commit corruption offenses, including facilitating wagering and contriving the outcome of three matches.
Atseye was issued a suspension of two years and six months, alongside a fine of $10,000. The suspension began on 14 October 2024, and will end on 13 April 2027.
Sylvester Emmanuel and Christian Paul did not respond to ITIA charges, effectively accepting liability and acceding to sanctions, as outlined under section G.1.e of the TACP.
26-year-old Emmanuel, who reached a career-high world singles ranking of 1097 in December 2016, and 29-year-old Paul, who reached a career-high world singles ranking of 1257 in May 2016, were found liable for six breaches of the TACP across 2017 and 2018 – including facilitating wagering, contriving the outcome of matches, receipt of money and failure to report corrupt approaches.
Emmanuel and Paul were issued suspensions of three years, alongside fines of $10,000. The suspensions began on 6 November 2024, and will end on 5 November 2027.
During their periods of ineligibility, the players are prohibited from playing in, coaching at, or attending any tennis event authorised or sanctioned by the members of the ITIA (ATP, ITF, WTA, Tennis Australia, Fédération Française de Tennis Wimbledon and USTA) or any national association.
The ITIA is an independent body established by its tennis members to promote, encourage, enhance and safeguard the integrity of professional tennis events worldwide.
The post Three Nigerian Tennis Players Suspended Under Tennis Anti-Corruption Programme appeared first on European Gaming Industry News.
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