Philippines ops drives Bloomberry 17Q2 revenue

Bloomberry Resorts said second quarter consolidated net profit grew 47.4 percent year-on-year to P1.96 billion (US$38.5 million), attributed to robust growth in its Philippines gaming operation.

Net revenue increased 17.8 percent to P9.9 billion in the quarter.

The boost was attributed to an increase in revenue from its Solaire Resort & Casino property in the Philippines, reaching 9.7 billion in 17Q1.

Solaire reported record highs in mass table drop, VIP volume and slot coin-in during the quarter, growing 20.1 percent, 14.5 percent, 29.4 percent, respectively.

“This consistent growth in volume in all segments has been happening for four consecutive quarters since 2016,” noted the operator.

Jeju Sun, its gaming business in Korea, registered a 20.9 percent increase in gross gaming revenue, reaching P113.9 million.

“This was achieved against the backdrop of a huge decline in Chinese travelers,” it added.

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