Bloomberry Resorts Corporation | APEA - Asia Pacific Enterprise Awards

CORPORATE EXCELLENCE

Bloomberry Resorts Corporation

Bloomberry Resorts Corporation (BRHI) (Bloomberry, PSE: BLOOM) is a public company listed on the Philippine Stock Exchange with market capitalization of P124 billion (US$2.4 billion) as of September 30, 2019. Bloomberry develops and operates destination resorts featuring premium accommodations, gaming, entertainment, and award-winning food and beverage establishments. The Company’s principal shareholder is Mr. Enrique K. Razon Jr. In April 2009, Bloomberry Resorts and Hotels, Inc., (BRHI) a subsidiary of Bloomberry, was granted a Provisional License by the Philippine Amusement and Gaming Corporation (PAGCOR) to develop and operate an Integrated Resort (IR) within the PAGCOR-sponsored Entertainment City. The Company’s flagship property, Solaire Resort & Casino (Solaire), is a US$1.2 billion IR destination in Manila, Philippines and the first to open in Entertainment City. Bloomberry also operates Jeju Sun, a hotel and casino complex on the holiday island of Jeju in South Korea. The Company also has landholdings in the Silmi and Muui Islands in Incheon, South Korea.

When Bloomberry was starting out in 2013, it was a widely-held belief that the company, being a neophyte Filipino-owned IR developer, would not be able to compete effectively against incumbent and incoming IR developers like Genting and Melco. However, Bloomberry is now a market share leader in the Philippines in both revenue and profits. Such a feat was achieved by making strategic decisions in many areas – from aesthetics to the ambiance, and the various facets that make up the physical product, as well as the roster of human capital behind operations that is responsible for delivering the highest quality of service. The management team of diverse backgrounds, worked harmoniously together, leveraging on each other’s strengths to deliver the outstanding and world-class entertainment experience Solaire is known for. Bloomberry, thorough Solaire, envisions itself to be the only Filipino luxury brand in the integrated resort industry to be the most preferred globally. It is the Company’s mission to deliver exceptional experiences in a harmonious environment where everyone feels at home. The Company’s success results to valuable investments that generate career opportunities and, establish the Philippines as a premier tourist destination.

Bloomberry instills its five core values in each and every team member: F.I.R.S.T.

Focused – be passionate in perfecting the craft of providing superior guest services
Integrity – always do what is right, even when no one is looking
Respect – work with fellow team members and partners with mutual admiration and serve guests with sincere compassion and thoughtful consideration
Steadfast – remain firm in the commitment to excellence
Teamwork – work in unity and cooperation towards the Company’s shared goals

The Company’s vision, mission and values are rooted in its principal, Mr. Razon. Embedded in Bloomberry’s DNA is the same entrepreneurial ingenuity and ferocious work ethic that Mr. Razon demonstrates in all his business endeavors. Through a comprehensive Employee Engagement program, team members are encouraged to strive to produce the best services possible. Through various activities that focus on the development of their skills, team members can learn and broaden their knowledge of their craft and ultimately become globally competitive. Team members are also encouraged to exercise creative, critical and entrepreneurial thinking in their roles in order to come up with new ways of solving problems and delivering services. With proper guidance from senior management, team members are also involved in crafting meaningful Key Performance Indicators (KPIs) which cumulatively build toward the operational excellence the company aims for. These KPIs serve as each team performance barometers and guideposts for continued improvement.

In 2018, the Bloomberry Cultural Foundation funded the construction of a Cadet Barracks for the Philippine Military Academy and has provided regular contributions to the local government for procuring medicines and medical supplies, financial assistance to various local groups including the Hajji Mission of the National Commission on Muslim Filipinos, and donated hospital beds, among others. Solaire, through its Solaire Cares program regularly reaches out to local communities offering aid and goods to orphanages, educational foundations and homes for the elderly. Bloomberry has a history of delivering strong annual growth since it opened in 2013. Between 2016 and 2018, consolidated net revenues grew at a CAGR of 18%, while EBITDA and net profits grew at CAGRs of 19% and 76%, respectively. Needless to say, Bloomberry has posted record levels of revenues and profits every year. Given the Company’s performance in the first six months of 2019, where net revenues and EBITDA grew by 12% and 14%, respectively, this year is shaping up to be another solid one. Bloomberry has reinvested its earnings in profitable projects including the newly opened Players Stadium and the Baccarat Room and Bar.

The company is straight forward in its strategy to achieve sustainable growth. The key elements are to continue to develop exciting products and experiences and to retain the best talent. Bloomberry is developing formal Sustainability Reporting which will address and track the Company’s impact on the environment and its various stakeholders. The goal is for the Company to become more transparent and be more responsive in addressing environmental, social and governance issues. Bloomberry has developed an exciting project pipeline, including a new gaming area and the Philippines’ firstever Luxury Cruise Terminal at Solaire, and the US$1 billion Solaire North in Quezon City. The new gaming area at Solaire is anticipated to open in late 2020. The Solaire Cruise Center will be the Philippines’ first luxury cruise terminal and is expected to be opened in late 2021. Bloomberry’s second integrated resort, Solaire North in Quezon City, will open sometime in 2023.

CORPORATE EXCELLENCE

Bloomberry Resorts Corporation

Bloomberry Resorts Corporation (BRHI) (Bloomberry, PSE: BLOOM) is a public company listed on the Philippine Stock Exchange with market capitalization of P124 billion (US$2.4 billion) as of September 30, 2019. Bloomberry develops and operates destination resorts featuring premium accommodations, gaming, entertainment, and award-winning food and beverage establishments. The Company’s principal shareholder is Mr. Enrique K. Razon Jr. In April 2009, Bloomberry Resorts and Hotels, Inc., (BRHI) a subsidiary of Bloomberry, was granted a Provisional License by the Philippine Amusement and Gaming Corporation (PAGCOR) to develop and operate an Integrated Resort (IR) within the PAGCOR-sponsored Entertainment City. The Company’s flagship property, Solaire Resort & Casino (Solaire), is a US$1.2 billion IR destination in Manila, Philippines and the first to open in Entertainment City. Bloomberry also operates Jeju Sun, a hotel and casino complex on the holiday island of Jeju in South Korea. The Company also has landholdings in the Silmi and Muui Islands in Incheon, South Korea.

When Bloomberry was starting out in 2013, it was a widely-held belief that the company, being a neophyte Filipino-owned IR developer, would not be able to compete effectively against incumbent and incoming IR developers like Genting and Melco. However, Bloomberry is now a market share leader in the Philippines in both revenue and profits. Such a feat was achieved by making strategic decisions in many areas – from aesthetics to the ambiance, and the various facets that make up the physical product, as well as the roster of human capital behind operations that is responsible for delivering the highest quality of service. The management team of diverse backgrounds, worked harmoniously together, leveraging on each other’s strengths to deliver the outstanding and world-class entertainment experience Solaire is known for. Bloomberry, thorough Solaire, envisions itself to be the only Filipino luxury brand in the integrated resort industry to be the most preferred globally. It is the Company’s mission to deliver exceptional experiences in a harmonious environment where everyone feels at home. The Company’s success results to valuable investments that generate career opportunities and, establish the Philippines as a premier tourist destination.

Bloomberry instills its five core values in each and every team member: F.I.R.S.T.

Focused – be passionate in perfecting the craft of providing superior guest services
Integrity – always do what is right, even when no one is looking
Respect – work with fellow team members and partners with mutual admiration and serve guests with sincere compassion and thoughtful consideration
Steadfast – remain firm in the commitment to excellence
Teamwork – work in unity and cooperation towards the Company’s shared goals

The Company’s vision, mission and values are rooted in its principal, Mr. Razon. Embedded in Bloomberry’s DNA is the same entrepreneurial ingenuity and ferocious work ethic that Mr. Razon demonstrates in all his business endeavors. Through a comprehensive Employee Engagement program, team members are encouraged to strive to produce the best services possible. Through various activities that focus on the development of their skills, team members can learn and broaden their knowledge of their craft and ultimately become globally competitive. Team members are also encouraged to exercise creative, critical and entrepreneurial thinking in their roles in order to come up with new ways of solving problems and delivering services. With proper guidance from senior management, team members are also involved in crafting meaningful Key Performance Indicators (KPIs) which cumulatively build toward the operational excellence the company aims for. These KPIs serve as each team performance barometers and guideposts for continued improvement.

In 2018, the Bloomberry Cultural Foundation funded the construction of a Cadet Barracks for the Philippine Military Academy and has provided regular contributions to the local government for procuring medicines and medical supplies, financial assistance to various local groups including the Hajji Mission of the National Commission on Muslim Filipinos, and donated hospital beds, among others. Solaire, through its Solaire Cares program regularly reaches out to local communities offering aid and goods to orphanages, educational foundations and homes for the elderly. Bloomberry has a history of delivering strong annual growth since it opened in 2013. Between 2016 and 2018, consolidated net revenues grew at a CAGR of 18%, while EBITDA and net profits grew at CAGRs of 19% and 76%, respectively. Needless to say, Bloomberry has posted record levels of revenues and profits every year. Given the Company’s performance in the first six months of 2019, where net revenues and EBITDA grew by 12% and 14%, respectively, this year is shaping up to be another solid one. Bloomberry has reinvested its earnings in profitable projects including the newly opened Players Stadium and the Baccarat Room and Bar.

The company is straight forward in its strategy to achieve sustainable growth. The key elements are to continue to develop exciting products and experiences and to retain the best talent. Bloomberry is developing formal Sustainability Reporting which will address and track the Company’s impact on the environment and its various stakeholders. The goal is for the Company to become more transparent and be more responsive in addressing environmental, social and governance issues. Bloomberry has developed an exciting project pipeline, including a new gaming area and the Philippines’ firstever Luxury Cruise Terminal at Solaire, and the US$1 billion Solaire North in Quezon City. The new gaming area at Solaire is anticipated to open in late 2020. The Solaire Cruise Center will be the Philippines’ first luxury cruise terminal and is expected to be opened in late 2021. Bloomberry’s second integrated resort, Solaire North in Quezon City, will open sometime in 2023.