Bloomberry revenue up 50% in Q4

Bloomberry Resorts Corp revenue was up 13 per cent from PHP7.1bn to PHP8bn (US$153m) quarter-on-quarter.

The Philippines.- Casino operator Bloomberry has shared its financial results for the fourth quarter. Gross gambling revenue at Solaire Resort was up 50 per cent year-on-year to PHP8bn (US$153m) and up 13 per cent when compared to the previous quarter, when revenue was PHP7.1bn.

Earnings before interest, taxation, depreciation and amortisation (EBITDA) was PHP1.9bn, up from PHP129m in the previous year. Mass tables GGR was up 63 per cent year-on-year and up 19 per cent when compared to the previous quarter. Electronic gaming machine (EGM) revenue rose 42 per cent year-on-year and 30 per cent from the third quarter.

Bloomberry’s Solaire Resort reported GGR of PHP27.6bn for full-year 2021. The figure was up 22 per cent year-on-year. VIP GGR came in at PHP6.7bn, down 13 per cent year-on-year while mass table and EGM GGR were PHP11.3bn and PHP9.5bn respectively, up 54 per cent and 32 per cent.

The group reported a net loss of PHP4.2bn, compared to a net loss of PHP8.3bn in the previous year.

Enrique K. Razon Junior Bloomberry chairman and CEO, said: “The year 2021 demonstrated the resilience of our business amidst a pandemic characterised by a slowly recovering economy and the absence of tourism.”

He added: “Compared to 2020, it was a better year for Bloomberry as it was propped up by the domestic patronage which grew our mass gaming revenues by 43 per cent and EBITDA by 265 per cent. While we look forward to better days ahead, we remain equipped to operate under challenging circumstances if they materialise.

“Even as Covid-19 restrictions are eased around the world, Bloomberry will continue to uphold its market-leading health standards for the safety of both guests and team members.”