Error message

  • Notice: Trying to get property of non-object in template_preprocess_imageblock_content() (line 349 of /home/agbrief/agb/sites/all/modules/imageblock/imageblock.module).
  • Notice: Trying to get property of non-object in template_preprocess_imageblock_content() (line 349 of /home/agbrief/agb/sites/all/modules/imageblock/imageblock.module).

Bloomberry posts Q1 profit as revenue jumps

Bloomberry Resorts swung to a profit in Q1, boosted by record VIP volumes and rising mass and slot revenues.

The operator of the Solaire Resort & Casino in Manila’s Entertainment City posted a profit of 2.15 billion pesos, compared with a loss of 1.15 billion pesos in the prior year quarter. Revenue surged to 8.58 billion pesos from 5.7 billion in Q1 last year.

Solaire reported VIP volume up 34.7 percent, mass table drop up 23.7 percent and slot coin in up 26.2 percent.

Gross gaming revenue jumped by 39.7 percent. The company said on a hold normalized basis, VIP revenue would have increased by 67.6 percent. VIP hold stood at 2.31 percent, below normal hold of 2.85 percent.

Total visitation for the first quarter of 2017 was 1,438,600 which was 19.4 percent higher than the same period last year.

The company’s gaming operations in South Korea, also reported robust revenue, of P58.9 billion, which was 2.5 times higher than the prior quarter.

Hotel and food and beverage revenue increased by P102.0 million or 23.5 percent for the first quarter of 2017 versus the same quarter last year. Solaire increased its REVPAR by 13.5 percent year-on-year and at the same time, managed to increase its hotel occupancy for the first quarter of 2017 to 92.6 percent from 84.9 percent in the previous year.

The hotel and F&B operation of Jeju Sun generated P41.8 million of revenue for this quarter which higher by 6.5 percent in comparative period in 2016.

More news from this jurisdiction

PhilippinesMonday, Jan 15, 2018

A retired military general is set to fill the position left by Philippine Charity Sweepstakes Office (PCSO) chairman, Jose Jorge Corpuz, who retired last week.

PhilippinesSunday, Jan 14, 2018

President Rodrigo Duterte on Thursday held a meeting with the top executives of Melco Resorts and Entertainment.

PhilippinesSunday, Jan 14, 2018

Chairman of the Philippine Charity Sweepstakes Office Jose Jorge Corpuz has resigned from his position as chairman, according to an announcement on Friday.

PhilippinesThursday, Jan 11, 2018

Philippine Amusement and Gaming Corporation (PAGCOR) has launched a second auction for two parcels of land occupied by Bloomberry’s Solaire Resort and Casino.

PhilippinesThursday, Jan 11, 2018

Philippine police have rescued a Taiwanese man from a kidnap-for-ransom gang in Paranaque City, local media reports.

PhilippinesMonday, Jan 08, 2018

The Philippines’ national tax think-tank has recommended an increase in the entrance fees required for players to enter casinos in the country, and to make their collection compulsory.

PhilippinesSunday, Jan 07, 2018

Philippine casino operator Travellers International Hotel Group has announced it has formalized an agreement with Hotel Okura Co., Ltd for it to operate a new 191-room hotel at Resorts World Manila.