Bloomberry’s 9-mo profit rises by 275% | Inquirer Business

Bloomberry’s 9-mo profit rises by 275%

/ 05:32 AM November 10, 2017

Integrated gaming resort developer and operator Bloomberry Resorts Corp. posted P5.96 billion in nine-month net profit, up 275 percent year-on-year.

For the third quarter, the developer and operator of Solaire Resort & Casino booked a net profit of P1.86 billion, up 31 percent year-on-year.

Gross gaming revenue hit P36.5 billion, the highest recorded for a nine-month period since Solaire opened to the public in 2013. This marked a 23.3-percent growth from last year’s level.

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GGR accounted for 93.3 percent of Bloomberry’s business during the period. Flagship integrated resort Solaire contributed P34.25 billion while Korean unit Jeju Sun contributed P323.75 million.

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Solaire posted a record for mass table volume and electronic gaming machines coin-in while Jeju Sun reported a positive cash flow for the first time since 2015.

Bloomberry’s nongaming revenue also hit a record-high of P2.25 billion in the first nine months, up 46.7 percent year-on-year.—DORIS DUMLAO-ABADILLA

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TAGS: Bloomberry Resorts Corp., net profit, solaire resort & casino

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