Bloomberry on a hot streak, profit grows more than two-fold
Solaire casino operator Bloomberry Resorts Corp. extended its winning streak with its nine-month income soaring to an all-time high P5.96 billion or more than double the previous year on record revenues, lower financing costs and improving Korean operations.
Bloomberry booked P36.5 billion in gross revenues, its highest since its launch. Gross gaming revenue (GGR) increased 22.8 percent to P34.25 billion on record high mass table drop and slot coin-in during the period. Revenue from mass table and slot machines reached an all-time high of P8.9 billion and P8.6 billion, respectively.
Jeju Sun, the firm’s casino venture in Korea, also contributed to the growth with its GGR growing 122 percent and contributing P324 million, or just one percent to the total.
Bloomberry’s non- gaming revenues surged 44 percent to P2.47 billion driven mainly by new shows in the Theatre, the opening of The Shoppes as well as improved hotel occupancy in both the Bay and Sky Towers at Solaire.
Average hotel occupancy was 90.9 percent, up by 6.7 percentage points.
Total visitation likewise improved with 4.27 million visits or an increase of 13.1 percent year on year.
For the third quarter, Bloomberry reported a 31 percent jump in net income to P1.85 billion on robust Philippine operations.