Revillame’s ‘casino journey’
Bloomberry Resorts Corp. of port tycoon Enrique Razon Jr. may have to thank comedian and television host Willie Revillame for the company’s sharp turnaround in the first quarter of 2014. The gaming industry is abuzz with rumors that the alleged heavy gambling of Revillame in Bloomberry-owned Solaire Resorts and Casino jacked up the earnings of the casino.
Almost all gambling aficionados have heard of the talk that Revillame was splurging all his money in Solaire Resorts. Revillame, for one, reportedly lost nearly P150 million in the casino in just one night. Bloomberry, meanwhile, registered a net income of P1.46 billion in the January-to-March period this year, a reversal from the loss of P1.05 billion in the same quarter last year.
Total gross revenues hit P7.38 billion, or over 11 times the P661 million it generated on year.
Razon, chairman and chief executive of Bloomberry, dismissed the Revillame tale, when asked by reporters during the recent stockholders’ meeting of Bloomberry.
“Hindi siya naglalaro dito. Baka sa iba,” Razon told reporters. He stressed that Solaire focuses on the foreign market, which is much bigger than the local one.
Bloomberry, meanwhile, is targetting November as the opening date of its so-called Phase 1a expansion of Solaire Resorts. The gaming company is offering an additional 150 all suites-hotel rooms, retail space, restaurants and a 1,800-seating entertainment theater.