Enrique K. Razon Jr. is a Spanish Filipino billionaire and the Chairman and CEO of the Manila-listed company International Container Terminal Services, Inc. (ICTSI), the Philippine port-handling giant. He is currently the third richest Filipino, a four-place jump from last year’s ranking, mainly because of his stake in Bloomberry Resorts and Hotels.
Bloomberry Resorts & Entertainment said it’s pushing forward with its project to build a second IR in Quezon City, as it believes the opening will coincide with a significant rebound post the crisis.
Bloomberry Resorts said it expects its second IR in the Philippines to now open in late 2022, or early 2023, due to construction delays following the Covid-19 pandemic.
Bloomberry Resorts said its Q1 net income fell 38 percent due to the impact of the coronavirus and it expects a slow recovery.
Enrique Razon Jr. is promoting mass Covid-19 testing for his employees at both the Solaire Resort & Casino and his International Container Terminal Services Inc. (ICTSI). “Our employees are our number one asset,” he declared. “As we try to overcome this most difficult phase and into the ‘new normal,’ we do so without letting our […]
Bloomberry Resorts, the operator of the Solaire Resort & Casino saw its consolidated net income plunge by 40 percent in the first quarter of the year, due to lower foreign exchange gains, higher interest expenses and weaker gaming revenues. Net income for the quarter reached P2.2 billion, while gross gaming revenues fell one percent to […]
Bloomberry Resorts, the owner of the Solaire Resort and Casino in Manila, reported record net profit in 18H1. Consolidated net profit reached P5.3 billion, the highest reported six-month earnings since opening. Net revenue increased 20 percent to P22.1 billion, while consolidated gross gaming revenues (GGR) reached P25.1 billion, up 14 percent year-on-year. Consolidated EBITDA increased […]
Bloomberry Resorts Corp says it plans to begin the construction of its Quezon City integrated resort and casino from the middle of next year, local media reports. Bloomberry chairman and chief executive Enrique Razon Jr. said in an interview following the group’s annual stockholders meeting that the construction of the IR would be part of […]
Philippine casino operator, Bloomberry Resorts Corp saw strong earnings growth in the first quarter of 2018, smashing prior records. Net profit increased 71 percent year-on-year, reaching P3.7 billion (US$71.2 million). Gross gaming revenues rose 28 percent year-on-year to a record P13.7 billion. This was attributed to strong growth in both mass table drops and electronic […]
Shares in Bloomberry Resorts jumped 3.5 percent in Manila after the operator posted record results for 2017, though its gaming revenue and EBITDA in the final quarter were hit by low hold rates. In Q4, gross gaming revenues fell 2 percent year-on-year to PHP10.27 billion ($196.9 million) after the VIP hold rate fell to 1.95 […]
Bloomberry chairman Enrique Razon Jr. says the company is pushing ahead with its planned hotel and casino development in Quezon City despite opposition from residents. Razon was speaking in an interview with The Standard at the sidelines of the 43rd Philippine Business Conference, adding that the company is planning to start construction of its second […]
Overinvestment in Philippines’ gaming industry is likely to end up in oversupply, says Bloomberry owner Enrique Razon Jr. in an interview with Reuters on Tuesday. Earlier this month, Pagcor said it will start privatizing more than 40 of its casinos across the country. Razon said this will inevitably lead to cannibalization risks. “Cannibalization – it […]
Bloomberry Resorts chair and controlling shareholder Enrique Razon has sold a portion of his stake in Philippines gaming operator Bloomberry Resorts Corporation for P3.8 billion ($74.5 million), local media reports. In an overnight placement, Razon’s Prime Metroline Holdings sold 350 million shares at 10.85 pesos per share, representing a 3.18 percent stake in the company […]
Securities and Exchange Commission chairperson Teresita Herbosa says the current P5 million (US$100,000) threshold for casinos should be lowered to cover more suspicious transactions, local media reports. Herbosa, who is a member of the Philippines Anti-Money Laundering Council (AMLC) said the Philippines may still risk being included again on the grey list of the Financial […]
Bloomberry Resorts’ Solaire Resort and Casino saw a number of guest cancellations following last week’s attack at Resorts World Manila, but executives continue to be optimistic for the rest of the year, The Inquirer reports. On Thursday, Bloomberry Resorts Corporation chair Enrique Razon Jr. said the company saw guests and players withdraw their reservations from […]
Philippine casino operator Bloomberry Resorts Corporation will likely begin development of its second hotel and casino project in early 2018 instead of 2017, local media reports. In a recent interview, Bloomberry chairman Enrique Razon Jr. noted that the Quezon City property where it will stand had yet to be cleared of informal settlers, reports Rappler. […]
Philippine casino operator Bloomberry Resorts Corporation posted a net profit of P2.3 billion (US$46.1 million) for the year ended December 31, 2016, according to a filing to the Philippine Stock Exchange on Friday. The profit result was a strong turnaround from the P3.4 billion (US$66.9 million) net loss recorded in 2015. Bloombery said that results […]
Bloomberry Resorts chairman Enrique Razon has proposed for the government to adopt a “visa-on-arrival” policy for mainland Chinese visitors, local media reports. Currently, Chinese travellers are required to secure a visa from their place of origin. Razon reportedly made the suggestion to Finance Secretary Sonny Dominguez and Foreign Secretary Jun Yasay during a dinner, according […]
The ruling Liberal Democratic Party has backed away from its plan to enact the Casino Bill through the House of Councillors and into law on Friday. Instead, it has agreed to hold some hearings in the Cabinet Affairs Committee next week, local media reports. The agreement came during a meeting between LDP Diet affairs chief […]
Philippines-listed Bloomberry Resorts Corp posted an all-time record in gross gaming and non-gaming revenues as well as EBITDA for the first nine months of 2016, helped by cost controls and a jump in Q3 VIP revenue. According to the company’s filing to the Philippine Stock Exchange on Monday, gross gaming revenues grew 14 percent to […]
Bloomberry Resorts Corp chairman and founder Enrique Razon says he is pushing ahead with plans for the company’s second casino, in Quezon City. In an interview with Bloomberg on Friday, Razon said construction of the $418 million resort in Manila may start mid-next year and could be finished in 2019. In regards to Duterte’s campaign […]
Casino operator Bloomberry Resorts Corporation has reported P1.3 billion ($28.5 million) of profit in the second quarter of 2016, compared to a loss of P787 million in the same quarter in 2015. The company, which owns and operates the Solaire Resort and Casino in the Philippines said its second quarter revenues surged by 40 percent […]
Bloomberry Resorts Corp., operator of Solaire Resorts and Casino will be increasing its scrutiny against junket operators in the aftermath of the $81 million money laundering scandal, local media reports. In a stockholders meeting on Tuesday, Bloomberry chair Enrique Razon Jr. said the two Chinese businessmen identified as being involved in the money laundering case, […]
The next Philippine government should discourage the near-term expansion of casinos outside of Entertainment City, said Belle Corp. vice chair Willy Ocier, reports The Inquirer. Belle Corp. owns the City of Dreams Manila casino in Entertainment City. Ocier made the comments after Enrique Razon Jr, owner of the Solaire Resort and Casino in Entertainment City, […]
Philippines casino operator Bloomberry Resorts Corp plans to develop a 1.5-hectare property in Quezon City into a mixed-use development with a hotel and casino, local media reports. Bloomberry chairman and chief executive Enrique Razon Jr. said the new development would be “similar to Solaire Resorts and Casino” in Manila’s Entertainment City. “We will probably start […]
Enrique Razon Jr. has warned of an oversupply of casinos in the Manila Bay area, with two more gaming complexes scheduled to open in the next two years, The Inquirer reports. “It’s too many, too fast,” said Razon, chairman of Bloomberry Resorts Corp. on the sidelines of the International Container Terminal Services Inc. annual general […]
Philippines-listed Bloomberry Resorts Corporation reported an audited consolidated net loss of P3.4 billion (US$73.2 million) in 2015 compared to net profit of P4.1 billion in 2014. Bloomberry, owner and operator of the Solaire Resort & Casino and Jeju Sun Hotel & Casino said the loss was a result of large increases in depreciation and amortization […]
Filipino billionaire Enrique K. Razon Jr, Chairman and CEO of Bloomberry Resorts Corporation is not as fazed by the corruption crackdown that has left so many VIP gaming tables vacant across Asia, according to an interview with The Inquirer. Bloomberry Resorts Corp., the holding company for the Solaire Casino, from the outset has been tapping […]