At the same time, he emphasised that Solaire Online is already functional and currently undergoing rigorous system testing.
The digital initiative represents Bloomberry’s strategic effort to diversify its business model and tap into the fast-growing online gaming segment in the Philippines.
Razon expressed confidence that the online platform will contribute significantly to both profit and revenue streams, especially in light of the company’s plan to recover from recent financial setbacks.
He added that a vigorous push into online gaming is central to recapturing revenue lost during challenging periods, including the downturn triggered by regulatory actions against Philippine offshore gaming operators (POGOs).
However, there have been efforts in the Philippines recently to ban all online gambling. None has advanced far enough to be considered a threat, but the idea still lingers.
According to the company’s 2024 annual report, the forthcoming online platform is designed to directly compete with established electronic gaming operators such as BingoPlus, which is owned by Digiplus Interactive Corporation, a firm under the Tanco Group.
Bloomberry initially launched its digital presence through Solaire Online in April 2021, after receiving regulatory approval from the Philippine Amusement and Gaming Corporation (PAGCOR).
The platform was part of a larger initiative that allowed integrated resort operators to offer online betting during the pandemic.
Since then, Bloomberry has positioned Solaire Online as a competitive force in the digital gaming space, aligning it with offerings from other major integrated resorts operating in key locations such as Entertainment City, Clark, and Cebu.Land-based Solaire operations maintain focus
Razon added that the company continues to rely on its core strengths, including its Solaire brand, established VIP and mass market clientele across Asia to gain a competitive advantage in both the physical and online gaming sectors.
Parallel to its online expansion, Bloomberry is also focused on strengthening its land-based operations. The company is actively ramping up activities at its Solaire Resort North property, which was inaugurated in May 2024.
Razon stated that operational performance at Solaire North is showing consistent month-on-month improvement, though he did not provide a definitive timeline for when the venue is expected to achieve profitability.
He did, however, indicate that profitability appears to be within reach as business volumes continue to increase.
The company is also investing in maximising the performance of its flagship Solaire Resort and Casino in Entertainment City.
Combined with favourable macroeconomic trends in the Philippines, Bloomberry anticipates that its integrated resort operations will help counterbalance the revenue impact of the ban on POGOs.
Despite these efforts, Bloomberry faced a sharp decline in profitability during 2024. The company reported a 73% drop in net income, falling to PHP2.6bn.
This decline was attributed largely to increased depreciation and interest expenses associated with recent capital expenditures and new developments.
However, on a positive note, gross gaming revenue rose 6% year-on-year to PHP61.7bn. This was buoyed by contributions from Solaire Resort North.
