Bloomberry nets P4.11B | Inquirer Business

Bloomberry nets P4.11B

By: - Business Features Editor / @philbizwatcher
/ 08:34 AM August 10, 2017

SOLAIRE Resort and Casino RICHARD REYES

Integrated gaming resort operator Bloomberry Resorts Corp. chalked up P4.11 billion in first semester net profit, about 24 times larger than the level last year as gaming revenues hit a record high.

For the second quarter alone, net profit rose by 47 percent year-on-year to P1.96 billion, due to a 34-percent year-on-year improvement from Solaire Resort and Casino and lower losses from its Korean business under Jeju Sun Hotel & Casino.

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Consolidated gross gaming revenues (GGR) rose by 16 percent year-on-year and 14 percent quarter-on-quarter to P12.22 billion in the second quarter– the highest since opening Solaire.

Six-month consolidated GGR rose by 26 percent year-on-year to P22.93 billion.

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Enrique Razon Jr., Bloomberry chair and chief executive officer, said in a press statement on Thursday: “We are gratified to see the continuing results of our efforts to level up Solaire’s game. There will be no let-up in these efforts. We are on track, and we will continue to focus on surpassing our previous achievements.”

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TAGS: BLOOM, Enrique Razon Jr., solaire resort & casino
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