Hotel and casino operator Bloomberry Resorts Corp. said it is preparing to launch a new electronic gaming product by the second quarter of 2025 to help recover revenues lost after the ban on Philippine Offshore Gaming Operators (POGOs) last year.
“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. Launching in the second quarter of 2025, this new mainstream brand will complement Solaire and is anticipated to bring our brand of online gaming entertainment to Filipinos nationwide,” Bloomberry chairman Enrique Razon Jr., said during its annual stockholders’ meeting Thursday.
Razon said launching an online gaming product would be one of the company’s strategies to make up for the loss of income from exit of POGOs.
“Our strategy to recover the loss of POGO revenue since the ban in July of last year is to continuously ramp up the new property in Solaire North, ramp up further Solaire Entertainment City, coupled with the expected growth in the Philippine economy in the near term. Our strategy of aggressively pursuing our online business is how we intend to recover whatever lost revenue there was,” Razon said.
Razon said the online platform is now undergoing extensive testing and is set for full launch by late May or early June
Bloomberry is also optimistic about the progress of its Solaire North project, which was launched last year.
“The ramp up of Solaire North is going quite well. Every month, it’s improving. We cannot say exactly when it will return to profitability, but it’s getting closer and closer. Hopefully, as soon as possible, we will be in profitability, similar to how it was here in Soler Entertainment City in 2013,” he said.
With the launch of its new online platform and continued property developments, Bloomberry hopes to strengthen its position as a top gaming firm in the country and the region.
“With our best-in-class integrated resort products and expanded exposure to online gaming, we have an unrivaled and highly diverse portfolio of revenue sources that will solidify our position as the top gaming firm in the Philippines and the region,” said Razon.
