Bloomberry sets foray into online gaming segment
Bloomberry Resorts Corp. is ready to compete with other electronic gaming license holders, intending to launch its own online offering by the second quarter.
Enrique Razon Jr., chair and CEO of the Solaire Resorts and Casino operator, said in a virtual stockholders’ meeting on Thursday that they were on track to switch on their online business by the end of May or early June.
“Our online business is now undergoing extensive testing,” he said.
Razon said launching the new platform is the company’s way of reaching out to a broader market that has been getting familiar with online gaming.
The Philippine Gaming and Amusement Corp. expects the e-gaming segment to step up to the level of brick-and-mortar casinos in the next few years.
“In a bid to secure the long-term success of our business, we seek to further increase our presence in mass-market gaming through a new electronic gaming product,” Razon said.
Thriving incumbent
Based on the Bloomberry management’s presentation to analysts, the company expects the online business to contribute about P2.5 billion to P3.7 billion in gross gaming revenues.
Bloomberry is entering a space dominated by tycoon Eusebio Tanco-led DigiPlus Interactive Corp., which operates BingoPlus, Arena Plus, SpinPlus and GameZone.
DigiPlus tripled its net income to P12.6 billion in 2024, which Tanco described as the company’s “defining year.”
The Razon-led gaming company, meanwhile, saw its net income fall by 73 percent to P2.6 billion last year because of weak VIP segment revenues. It was also due to the high costs associated with the recently opened Solaire North.
Razon said Solaire North’s operations have been improving “every month.”
