Bloomberry revenue up 62% in Q3
The Philippine casino operator has reported GGR of PHP7.1bn for the third quarter of the year.
The Philippines.- Casino operator Bloomberry has shared its financial results for the third quarter, reporting that gross gambling revenue at Solaire was up 62 per cent year-on-year from PHP4.4bn to PHP7.1bn. Earnings before interest, taxation, depreciation and amortisation (EBITDA) was PHP10.1m (US$18.0m), down from PHP1.03bn (US$20.5m) in the previous quarter.
Bloomberry attributed the negative results to the temporary closure of Solaire Resort due to Covid-19 countermeasures for 41 out of 92 days in the quarter. Solaire reopened its doors on September 16 but kept to its invite-only policy, operating at a limited capacity as allowed by PAGCOR.
The casino operator reported consolidated net revenue of PHP5.1bn, representing an increase of 59 per cent from PHP3.2bn in the same period last year.
Enrique K. Razon Jr., Bloomberry Chairman and CEO, said: “In the third quarter, Bloomberry realised higher gaming volumes and revenues despite the intermittent business conditions brought about by shifting quarantine classifications.
“We are prepared to continue operating in such an environment, but are looking forward to a more stable one should domestic restrictions be eased in line with the increasing vaccination rate.”
He added: “Even with now relatively relaxed limitations on mobility, Bloomberry remains committed to safeguarding the health of its onsite customers and team members by maintaining its industry benchmark health and safety security protocols.”
VIP GGR at Solaire came in at PHP2bn, down 1 per cent year-on-year while mass table and EGM GGR were PHP2.7bn and PHP2.4bn respectively, up 72 per cent and 42 per cent.
In the first nine months, Solaire’s VIP GGR increased by 26 per cent year-on-year to PHP5.1bn. Mass table and EGM GGR grew by 51 per cent and 27 per cent year-on-year to PHP8.1bn and PHP6.5bn, respectively.
