Category Archives: Casino

Bloomberry set for record year as mass market buoys Solaire’s Q3


bloomberry-resorts-solaire-casino-razonPhilippine casino operator Bloomberry Resorts Corp reported Q3 profits rising nearly one-third based on a thriving mass market business at its flagship Manila integrated resort.

On Thursday, Bloomberry released its Q3 earnings report, which showed revenue of P9.6b (US $187.2m) in the three months ending September 30, a 22.3% rise over the same period last year. Earnings were up 33% to P3.4b, while net profits rose 31% to P1.85b.

Business was booming at Bloomberry’s Solare Resort & Casino in Manila’s Entertainment City gaming district. Mass table drop was up 22% year-on-year to P9.7b, a new quarterly record, while mass electronic gaming machine (EGM) coin-in shot up 38% to P49.7b, also a record.

Solaire’s VIP gaming turnover declined 13% but VIP revenue improved 14% to P5.4b based on Q3 2016 having endured a pitifully low 2.16% VIP win rate, which rebounded to 2.83% in the most recent quarter. And while turnover and revenue were both down from Q2, the VIP turnover figure still ranked third-best since Solaire opened in 2013.

Jeju Sun Hotel & Casino, Bloomberry’s South Korean property, reported its first ever positive quarterly earnings since Bloomberry acquired the property in 2015. Jeju Sun’s gross gaming revenue was up a whopping 436% to P151m, as the property was wholly preoccupied last year with its ultimately aborted sale to a Macau junket operator.

Bloomberry boss Enrique Razon Jr. (pictured) hailed his company’s ongoing growth and held out hope that this “uptrend” would persist through the remainder of 2017. “Our top line and bottom lines are positive and, despite some minor hiccups, I am confident that 2017 will be a banner year.”

Year-to-date figures are rosy indeed, with revenue up 28% to P28b, earnings up 30% to P10.2b and profits jumping 275% to just under P6b.

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Brazil police raid Winfil casino for offering real-money gambling


brazil-police-raid-winfil-casinoA Brazilian brick-and-mortar casino operator’s impetuousness has brought down the long arm of the law.

Last week, Grupo Pefaco opened its Winfil casino in Porto Alegre, but its 460 slot machines were restricted to ‘demonstration’ mode, i.e. free-play gambling only, due to Brazil having yet to explicitly authorize real-money casino gambling.

But Saturday saw the casino commence real-money gambling based on a court injunction barring local law enforcement from seizing any of Winfil’s gaming machines. However, the judge who issued that injunction told local media on Monday that her injunction applied only if the machines were still in demonstration mode and had offered no comment regarding the illegality of casino gambling.

As one might expect, the authorities didn’t tolerate Winfil’s boldness for long. Brazilian affiliate Games Magazine Brasil reported that officers from the Civil Police and the state Prosecutor’s Office rolled up in “dozens” of vehicles to disrupt the goings-on, much to the dismay of the casino’s patrons, who chanted ‘we just want to play.’ (See video at bottom of page, which includes said chanting as well as the furious but ultimately futile arguments of Winfil’s lawyers.)

The authorities reportedly took no chances of clashing with the injunction barring them from seizing gaming machines by producing warrants referencing “objects directly related to the exploitation of games of chance.”

In practice, this meant the cops left the machines where they stood but seized the money inside the machines as well as their controller boards, effectively leaving Winfil with row after row of mute cabinets and monitors.

Winfil executives were reportedly detained and taken to the local booking facility where they were required to sign documents acknowledging their wicked, wicked ways.

Brazil is currently in the process of approving sweeping gambling reforms, which will reportedly include the authorization of multiple casinos across the country. There are two competing gaming bills in each house of the bicameral legislature, and the Chamber of Deputies has promised to bring its version to the floor for a vote in November.