Bloomberry narrows losses in Q3

INTEGRATED gaming resort developer and operator Bloomberry Resorts Corp. narrowed net losses in the third quarter as improved domestic operations made up for the slack in its fledgling operations in South Korea.

Bloomberry—the owner and operator of Solaire Resort & Casino along Manila Bay and Jeju Sun Hotel & Casino in Korea—reported a P1.51-billion net loss in the first nine months compared to P3.3 billion in net profits in the same period last year.

For the third quarter alone, Bloomberry narrowed its net loss to P189 million from the P787 million net loss in the second quarter. In the same quarter last year, Bloomberry had a net profit of P991.7 million.

Philippine operations turned in P281 million in net profit in the third quarter while the Korean unit incurred a net loss of P471 million.