Northern Solaire Philippines has announced that its official opening will take place between late 2022 and early 2023 due to delays caused by the pandemic.
Bloomberry Resorts, the owner of the resort, said it will wait for the second IR in the Philippines to officially open to the public. The news is learned from a statement from President Enrique K. Razon, forwarded to the shareholders of the group.
Bloomberry operates the Northern Solaire Philippines in the city of Manila and the second location will be on 1.5 hectares in Vertis North. The resort aims to satisfy the local mass market in the provinces of Bulacan and Pampanga.
Bloomberry reported that first quarter net profit fell 38% due to the impact of the coronavirus and expects a slow recovery.
Profit for the period was PHP 1.4 billion ($ 27.7 million), while consolidated net revenues fell 13% to PHP 9.4 billion year-on-year. Gross gambling revenue at Solaire dropped 10% to PHP 12.2 billion. GGR was down 16 percent from the previous quarter.