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.

More news from this jurisdiction

PhilippinesTuesday, Nov 14, 2017

Bloomberry Resorts would see its debt levels rise and a reduction in return on invested capital in the short term if it buys the land on which its Solaire Resort & Casino is based, though longer term it may improve valuations, according to Morgan Stanley.

PhilippinesMonday, Nov 13, 2017

The owners of Resorts World Manila is planning to introduce the country’s first Ritz Carlton Hotel by redeveloping its Maxims Hotel, local media reports.

PhilippinesMonday, Nov 13, 2017

The Asian Poker Tour (APT) has announced it has signed a new three-year exclusive agreement to run its tournaments at Resorts World Manila.

PhilippinesSunday, Nov 12, 2017

The Philippine Amusement and Gaming Corporation (PAGCOR) is launching an auction for two parcels of land currently occupied by Bloomberry’s Solaire Resort and Casino.

PhilippinesSunday, Nov 12, 2017

Philippines-listed Travellers International, operator of Resorts World Manila, reported a loss of P407.9 million for the third quarter of 2017.

PhilippinesFriday, Nov 10, 2017

Bloomberry Resorts Corporation (BLOOM PM), owner and operator of the Solaire Resort & Casino and Jeju Sun Hotel & Casino, posted record Q3 mass table drop and gross gambling revenue from electronic gaming machines, while VIP volumes slipped.

PhilippinesThursday, Nov 09, 2017

Universal Entertainment Corp has announced its plans to start operating its all-weather beach club, nightclub and space, Cove Manila, starting in December.