Bloomberry Resorts, the owner of the Solaire Resort and Casino in Manila, reported record net profit in 18H1.
Consolidated net profit reached P5.3 billion, the highest reported six-month earnings since opening.
Net revenue increased 20 percent to P22.1 billion, while consolidated gross gaming revenues (GGR) reached P25.1 billion, up 14 percent year-on-year.
Consolidated EBITDA increased 22 percent to P8.3 billion.
Bloomberry said the results were driven by strong mass table drop and EGM coin-in at its flagship casino Solaire, which was up 19 percent and 21 percent respectively.
Solaire’s VIP GGR, however, suffered from a lower VIP hold rate in Q2, with VIP volumes declining slightly in the half year as a result.
Enrique K. Razon Jr., Bloomberry chair, and CEO, says: “We continue to make progress towards establishing a solid enterprise. Our fundamentals remain strong, and we look forward to a busy second half and end 2018 with robust full-year results.”
The company said it has also been rolling out cost-containment initiatives and programs during the period.
In addition to its casino resort in Manila, Bloomberry is also the owner and operator of Jeju Sun Hotel & Casino.