Bloomberry Resorts Corporation, led by Filipino billionaire Enrique Razon Jr., experienced a 38 percent drop in first-half earnings, reporting a net income of PHP3.99 billion (€63.8 million). ??

According to its press release, the decline was largely driven by ongoing challenges in the VIP segment and the start-up costs of its new property, Solaire Resort North. In the second quarter of 2024, net income plunged 61 percent to PHP1.3 billion (€20.7 million), a significant drop from PHP3.4 billion (€54.3 million) the previous year. Despite these hurdles, Razon remains optimistic about Solaire North’s potential to drive future profitability as operations ramp up.??

While the VIP segment continued to struggle, Bloomberry’s mass gaming operations showed growth. Gross gaming revenue (GGR) for the first half of 2024 fell by 6 percent to PHP29.2 billion (€465. 9 million), down from PHP31.2 billion (€497.9 million) a year ago.   

However, non-gaming revenue rose by 11 percent to PHP4.6 billion (€73.4 million), showcasing strong performance in hotel and food services. The company's flagship property, Solaire Resort in Entertainment City, reported a 12 percent decline in GGR to PHP13.3 billion (€212.2 million) due to lower VIP volumes, partially offset by growth in electronic gaming machine (EGM) revenues.??

Despite financial strains, Solaire Resort North, which opened on May 25, demonstrated promising results. In its first 37 days of operation, the resort generated positive earnings before interest, taxes, depreciation, and amortization (EBITDA) of PHP250 million (€3.9 million), signalling its potential to become a significant revenue driver. However, pre-operating expenses for the new property amounted to PHP764.1 million (€12.2 million) in the second quarter, considerably higher than the PHP73.8 million (€11.8 million) in the same period the previous year.??

Despite the challenges faced by Bloomberry, Razon remains optimistic about the company's future. He believes that Solaire North's performance will improve as it continues to scale operations. The company is also banking on future growth in its mass gaming and non-gaming segments to offset the continued weakness in the VIP market.??

Australia's Greens Party is set to force a Senate vote on a proposed ban on gambling advertising after months of debate.

The upcoming Senate vote on the Greens' amendment will put Labor and the Coalition to the test, as the public increasingly demands stronger action against the gambling industry.

Greens Senator Sarah Hanson-Young (pictured above), the party's spokesperson for Communications, has been vocal about the alleged influence of the gambling lobby on Australia's major political parties. "Labor has once again caved to the gambling lobby," Hanson-Young stated. She declared that both Labor and the Liberal Party have allowed gambling interests to dictate policy for far too long, to the detriment of Australian families.

The Greens have long campaigned against the harms associated with gambling advertising, likening its effects to those of tobacco advertising, which was banned in Australia due to its severe public health impact. "Just as we banned tobacco ads because of the harm they caused, we need to do the same with gambling ads," Hanson-Young asserted. "Gambling companies are profiting from addiction and misery, targeting our children, and devastating families. This must stop."

The proposed ban would extend to both broadcast and online platforms. Public sentiment is increasingly in favour of stronger regulation of gambling advertising, particularly given the growing concern over its impact on youth. Last week, an open letter signed by two former Australian Prime Ministers pointed at the dangers of gambling ads, noting that companies are targeting children as young as 14 through social media platforms.

Despite these concerns, the Greens argue that Labor's actions have consistently favoured corporate interests over public health. Hanson-Young criticised the Albanese government for its recent decisions, which she believes have undermined public interest journalism and ignored the recommendations of experts. "We can support quality journalism without resorting to gambling money," she said, calling for alternative funding measures such as taxing big tech corporations.

REEVO has recently announced a strategic partnership with 8888.bg, one of Bulgaria’s leading online gaming operators. This collaboration is set to revolutionize the gaming experience for Bulgarian players by integrating REEVO’s innovative and engaging casino games into 8888’s extensive platform.

Bulgaria has a rich history in the gaming industry, with a growing market that has seen significant advancements over the years. The country has embraced online gaming, with operators like 8888.bg leading the charge. Known for its casino and sports content, 8888.bg has established itself as a key focus for gaming enthusiasts in Bulgaria because the platform is diverse and caters to a broad audience.

With the inclusion of REEVO’s high-quality and creative content, 8888.bg will enhance its already impressive portfolio. This partnership promises to deliver a more compelling and immersive gaming experience to its users, further solidifying 8888.bg’s position in the market.

Alexander Lichev, Chief Marketing Officer of 8888.bg, expressed his excitement about the partnership, stating, “REEVO is a fresh entrant in the casino content scene in Bulgaria, and we’re thrilled to include them in our website. Their creative approach to online gaming adds a contemporary flair that we believe our clients will enjoy. We are hopeful about the success of our collaboration and look forward to the excellent results that await us.”

Petra Poola, Head of Sales at REEVO, also commented on the collaboration: “We are thrilled to partner with 8888, a leader in the Bulgarian online gaming market. This collaboration is a testament to our commitment to delivering innovative and high-quality gaming content. We believe our diverse portfolio will bring an exciting new dimension to the 8888 platform, enhancing the player experience and driving mutual growth and success.”

The integration of REEVO’s games into 8888.bg’s platform is anticipated to attract a wider audience and increase player engagement, bringing a new level of excitement for both companies and their players in Bulgaria.

The Philippines’ Office of the Ombudsman has dismissed Bamban, Tarlac Mayor Alice Guo from public office for grave misconduct. This ruling dated August 12, 2024, and signed by Ombudsman Samuel Martires, includes a perpetual disqualification from holding any public office and the forfeiture of her retirement benefits. ??

The 25-page decision stems from Guo’s involvement in a controversial case involving Philippine Offshore Gaming Operators (POGOs) and a series of illegal activities connected to her tenure.  

The investigation revealed that Guo's connections to Baofu Land Development Inc., which controlled the property housing the illegal POGO operations, persisted even after she assumed the mayoral office in 2022. The Ombudsman’s ruling detailed how Guo, despite her public office, continued to exert control over Baofu and benefited from its operations. Notably, Guo did not revoke or cancel the business permits of Zun Yuan Technology Inc., a POGO firm that was operating without necessary safety certifications and was involved in illegal activities.??

The POGO hub operated in defiance of the Fire Code of the Philippines and other regulatory requirements. Furthermore, the Ombudsman’s investigation highlighted Guo’s involvement in applying for and securing multiple clearances for POGO-related constructions, illustrating a clear conflict of interest and a wilful intent to disregard established rules.  

Alongside Guo’s dismissal, the Ombudsman has imposed disciplinary actions on several other local officials. Bamban Vice Mayor Leonardo Asuncion, Business Permit and Licensing Officer Edwin Ocampo, and Municipal Legal Officer Adenn Sigua have been suspended for three months for conduct prejudicial to the best interest of the service. Additionally, several current and former members of the Sangguniang Bayan (municipal council) have been found guilty of similar charges. They face either suspension or financial penalties equivalent to three months' salary.??

The Ombudsman has instructed the Department of the Interior and Local Government (DILG) to explore the possibility of filing charges against former Mayor Jose Antonio Feliciano, who might have played a role in facilitating the illegal POGO operations. Meanwhile, Solicitor General Menardo Guevarra has announced that a quo warranto petition against Guo will continue. This legal action, filed in late July, challenges Guo’s eligibility to hold office, citing her alleged misrepresentation of her citizenship and involvement in fraudulent activities.??

Meanwhile, Guo's legal team announced plans to file a motion for reconsideration following the Ombudsman’s decision to dismiss her from office. Her lawyer, Atty. Stephen David expressed disappointment that the Ombudsman did not acknowledge the merit of Guo’s arguments. David stated that they are preparing the motion as a necessary step before pursuing an appeal with the Court of Appeals.  

Senators Risa Hontiveros and Sherwin Gatchalian have praised the Ombudsman’s decision but stressed that the pursuit of justice must continue until Guo is apprehended. Hontiveros highlighted the need for Guo to be held accountable for her actions, while Gatchalian emphasised the importance of addressing the broader issues of corruption and illegal activities linked to POGOs.  

In addition to the Ombudsman’s ruling, Guo faces charges from the Presidential Anti-Organized Crime Commission (PAOCC) for qualified human trafficking. The Court of Appeals has also ordered the freezing of her assets. The Commission on Elections (COMELEC) is conducting a preliminary investigation into Guo’s material misrepresentation related to her citizenship, with a subpoena issued for her to appear before the commission.?