Mass market gambling lifts Solaire operator’s profit to P6.4B
Bloombery Resorts Corp. posted a net income of P6.44 billion in the first nine months, up eight percent from the previous year.
Profit would have been higher were it not for rising interest expenses and the P625.3 million loss incurred by Jeju Sun & Hotel & Casino, Bloomberry’s gaming venture in Korea.
Jeju Sun continued to be challenged by the effects of competition and the decline in Chinese tourist arrivals in Korea.
The Philippine operations generated net earnings of P7.07 billion, up by 19.6 percent from year ago on foreign exchange gains and lower depreciation and amortization.
Gross revenues reached an all-time high P40.56 billion as it posted significant volume growth in the mass segments with mass table revenue hitting a record P11.58 billion due to higher volume and improved hold percentage. The slot machine segment also posted record high revenue of P10.4 billion after registering the best ever slot coin-in for a nine-month period.
Total visitation grew 15.5 percent to 4.93 million visitors.