Bloomberry to expand the scope of its portfolio

Bloomberry to expand the scope of its portfolio

Company looking for additional opportunities after a strong performance in 2019.

Philippines.- Bloomberry Resorts Corporation plans to expand the scale and scope of its investment portfolio in the gaming and hospitality industry.

According to a filing, the company does not currently have an objective in mind or under “imminent consideration” but made clear its plans to expand “within a broader universe of possible opportunities which include gaming, hospitality and other non-gaming assets”.

“The Company will consider various opportunities in light of their potential to create additional value for shareholders,” it added.

Bloomberry currently operates the Solaire Resort & Casino in Manila’s Entertainment City and Jeju Sun in Korea, and is developing its second Philippines integrated resort, Solaire North, in Quezon City.

Bloomberry recently reported financial results, with full-year 2019 consolidated net profit hitting PHP9.9 billion (€178million) compared to PHP7.2billion (€130million) for 2018.

The group revealed that net profit grew 38 per cent year-on-year with total consolidated net revenue of PHP46.6billion (€846million) for the year, up 22 per cent from PHP38.4billion (€694million) in 2018.

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