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Solaire Resort North shows positive EBITDA in first month of operation but VIP weakness drags Bloomberry Q2 results

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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.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Week 40/2024 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Amusnet has released 40 Bulky Dice – a classic video slot full of lucky dice symbols with a modern twist, which tempts with lots of entertainment and fantastic prizes. This 5-reel, 40 fixed paylines slot game offers vivid gameplay, epic sound effects and an easy-to-use interface. Watch out for the colourful Joker, which is the Wild symbol and appears on the second, third and fourth reels.

 

BGaming has teamed up with famous rapper and record producer Snoop Dogg to create an iconic new slot, Snoop Dogg Dollars. The themed game is BGaming’s first branded content in collaboration with a celebrity and was exclusively launched with Roobet on 25th September, before going live across the wider network on 30th October.

 

Relax Gaming has delivered a knockout blow with its latest release, Feather Fury. Fists are flying in this 3×2 boxing-themed slot, where players can win up to 5,000x their stake thanks to a truly unique mechanic that awards respins following dead spins. Every dead spin that is registered automatically adds a notch to the bar, with 10 dead spins being enough to trigger Feather Fury’s respin feature.

 

Reel Rabbit” from Hölle Games is already live, a new entry in the Reel franchise. This 5×3, 25 payline slot continues in the footsteps of furry friends Fox, Tiger and Wolf, and while it might be the most mild-mannered mammal of the bunch, Reel Rabbit still packs a hefty punch!

 

Step into the vibrant world of Muertos Fortuna, an exciting slot game from Zillion Games, featuring 3D animation and engaging features. Muertos Fortuna, inspired by Día de los Muertos and Halloween, brings vibrant animations and the unique presence of Catrina Muerte, who may appear during gameplay to interact and cheer you on with fun phrases, adding an engaging element to the experience.

 

Play’n GO invites players to revisit the mystical world of the beyond in Lady of Fortune Remastered, where the future holds untold riches and mysterious revelations. Venture where the veil between our world and the unknown is thin, and fortunes await those who dare to look. This 5×3 video slot revisits the popular title, Lady of Fortune, now with enhanced visuals and enriched gameplay.

 

 

Belatra Games has released its latest hot shot, Lucky Bandits. This exhilarating escapade launches players into the lawless lands of the Wild West that are brought to life with stunning visuals, immersive soundscapes, and thrilling gameplay. The game is bursting with engaging features such as Free Games, Hot Mode, and the intense Shot and Dynamite Bonuses.

Intrepid players are being given the chance to venture back in time to a land ruled by the great Pharaohs where they can uncover relics, treasures and big wins in Gold of Egypt, the latest slot from Silverback Gaming. In Gold of Egypt, players find themselves in a hot and arid desert at the entrance to a secret tomb. As the reels spin, ancient symbols land on the reels including a Cat, Snake, Scorpion and Scarab, as well as different hieroglyphics.

 

They say Rome wasn’t built in a day, but in Swintt’s all-new slot sensation, Hidden Treasures of Rome, players’ fortunes can certainly be built up in seconds thanks to the presence of Free Spins, a rewarding tumble feature and random multipliers that offer a maximum payout of up to 5,000x the stated win.

 

On October 2nd Endorphina, released its newest slot game, Panda Strike, now available for play in most online casinos. Panda Strike is a 5-reel, 4-row oriental slot with 40 fixed paylines. Set in a small Chinese town, the slot encourages players to master concentration and self-discipline, leading them to face the legendary panda, a master of the martial arts.

 

Amusnet has released its new online slot game, 10 Vampire Bites. The game has 11 symbols scattered across 5 reels and 10 paylines. The video slot game also showcases a hauntingly beautiful gothic design that immerses players in a world of mystery, while the atmospheric soundtrack further enhances the eerie experience, drawing players deeper into the chilling narrative.

 

 

The post Week 40/2024 slot games releases appeared first on European Gaming Industry News.

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Blask expands coverage with new European and Asian markets

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Blask, the AI-driven market analytics ecosystem, continues its rapid expansion towards the goal of providing high-quality iGaming data for the entire world, with the addition of 10 major new markets.

All Blask users now have access to real-time data, including estimates of GGR, FTDs, Blask Index, and Relative market share by brand, for the new markets, which include the Philippines, the Netherlands, Poland, Serbia, Bulgaria, Malaysia, and North Macedonia.

“As we onboard more users to Blask, we are listening to them closely and adding new markets based on demand,” said Blask CEO and co-founder Max Tesla. “This latest Europe and Asia-focused update provides the most accurate, real-time data available for some of the most important iGaming jurisdictions in the world. Blask is already providing a data-driven edge to users, and we’ll continue to deliver on our roadmap to make it a must-have for anyone seeking a deeper understanding of our industry.”

Blask now offers data from a total of 34 global iGaming jurisdictions. In August, the team rolled out several new Latin American and African markets to meet the demand for accurate data in emerging regions.

As well as new markets, additional functionality is also being added to Blask. This includes a recent update that brings comprehensive customer profiling to the platform.

The company recently announced the appointment of Greg Penkov as Chief Revenue Officer to help bring Blask to new customers.

The post Blask expands coverage with new European and Asian markets appeared first on European Gaming Industry News.

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Record Number of Host City Applications for IESF’s Events

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The International Esports Federation (IESF) is pleased to announce the conclusion of the bidding process for hosting the 2025 and 2026 IESF Events – the World Esports Championship and Regional Qualifiers. For the first time in our history, we have received a record number of applications, with over 30 cities from across all continents submitting their bids to host our signature Esports events.

The increased interest in hosting IESF events reflects the expansion of the Esports community and the impact these tournaments have had on the intern ational esports scene. From Europe to Asia & Oceania, Africa to the Americas, cities are making significant efforts to develop their local Esports ecosystems while also presenting their capability to host nations from around the world. The opportunity to serve as the home of Esports for a year is seen as a meaningful step forward, with long-lasting benefits in both the local and international growth of Esports.

“Over the last five years, IESF events have grown rapidly, and so has the excitement around hosting one of the world’s biggest esports events. IESF events are truly one-of-a-kind and bring huge value to our host nations – or as we like to call them, the “Esports capital of the world.’ It’s amazing to see this growing interest, and we can’t wait to continue bringing the global Esports community together through these incredible events.”- stated Boban Totovski, the General Secretary of IESF.

We are now thoroughly reviewing the applications to determine which cities meet our criteria and requirements and align with IESF’s core mission of developing Esports in a sustainable and inclusive manner.

IESF is dedicated to ensuring that every event we host leaves a meaningful and lasting impact. The upcoming selection of our host cities will shape the future of many Esports communities across the globe and redefine the Esports landscape by supporting new emerging regions and strengthening the existing ones.

The post Record Number of Host City Applications for IESF’s Events appeared first on European Gaming Industry News.

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