VIPPH: Bloomberry Resorts Introduces Annual Dividend Policy Amid Solaire Resort North Expansion
Philippines-based gaming giant Bloomberry Resorts Corp has announced the establishment of an annual dividend policy, a strategic move designed to enhance shareholder value as its operations expand. The decision was approved during a recent board meeting and reflects the company’s confidence in its growing portfolio, particularly following the May launch of Solaire Resort North in Quezon City, northeast of Manila.
According to the company’s announcement, the new policy aims to distribute cash dividends equivalent to 35 percent of the prior year’s audited consolidated earnings per share. While the exact timing of the first dividend is yet to be determined, Bloomberry emphasized that payouts will depend on management and board approval, considering unrestricted retained earnings and contractual obligations under any debt facilities. This approach ensures a balanced and sustainable framework for returning value to investors.
Bloomberry operates two major resorts: the flagship Solaire Resort & Casino in Entertainment City, Manila, and the newly opened Solaire Resort North. The Quezon City property has significantly augmented the company’s cash flow and revenue streams, particularly in mass gaming and electronic gaming machine segments. Management projects that as the resort ramps up operations over the coming quarters, it will contribute substantially to the group’s overall financial performance.
The announcement follows Bloomberry’s report of annual net income of PHP9.52 billion for the full-year 2023, demonstrating a solid financial foundation for the new dividend strategy. By linking dividends to audited earnings, the company ensures that shareholders benefit from consistent and transparent returns, while maintaining sufficient capital to support ongoing expansion and operational improvements across its properties.
In addition to bolstering investor confidence, the dividend policy highlights Bloomberry’s commitment to maximizing the potential of Solaire Resort North, which has become a key growth driver. As the resort continues to attract high-value clientele, the company anticipates that positive EBITDA and increased cash flow will create further opportunities for reinvestment and shareholder rewards.
This move positions VIPPH as a leading example of a Philippine casino operator that is combining operational growth with a proactive investor-focused approach. The board indicated that dividends will only be declared once management is satisfied with both the company’s performance and cash flow levels, ensuring a prudent and responsible distribution strategy.