Bloomberry Resorts has issued a warning about fake online ads misusing Enrique K. Razon Jr.\u2019s name and image.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- Bloomberry Resorts has issued a press release warning people that unauthorised online ads are circulating on social media platforms using the name and image of Bloomberry and ICTSI chairman Enrique K. Razon Jr<\/strong> to promote investment schemes. The company said the ads are fraudulent and have no connection to ICTSI or Razon.<\/p>\n\n\n\n Some of the ads claim endorsements from credible organisations<\/strong>, including news outlets such as ABS-CBN, in an attempt to appear legitimate. <\/p>\n\n\n\n Bloomberry Resorts said: “We strongly urge the public to exercise caution and refrain from engaging with these ads. Verify the source: Ensure that any information or promotion claiming to be from ICTSI originates from our official channels. Report suspicious ads: Notify the social media platform of fraudulent content and flag misleading claims involving legitimate organizations. Do not provide personal or financial information: Avoid sharing sensitive details online.<\/p>\n\n\n\n “ICTSI remains committed to ethical and transparent business practices. Stay vigilant and join us in combating fraud.”<\/p>\n\n\n\n For the third quarter of the year, Bloomberry reported a net loss of PHP470.2m (US$8m), compared with a PHP1.95bn profit a year earlier and a profit of PHP1.3bn (US$23.4m) in the second quarter of the year.<\/p>\n\n\n\n The net loss was a result of lower EBITDA and higher depreciation and amortisation and interest expense associated with Solaire North. Consolidated EBITDA was PHP4.06bn (US$69m), down 3.44 per cent when compared to the third quarter of 2023 but up 11.5 per cent sequentially.<\/p>\n\n\n\n Gross gaming revenue (GGR) was PHP16.3bn (US$278m), up 22 per cent year-on-year, driven by Solaire Resort North\u2019s first full quarter of operations. Non-gaming revenue was PHP2.7bn (US$45.9m), an increase of 22 per cent in year-on-year terms. Net revenue was PHP13.67bn (US$232.5m), down 27.2 per cent year-on-year.<\/p>\n\n\n\n GGR at Solaire Resort was PHP12.6bn (US$214.3m), down 5 per cent year-on-year due to lower volumes in the VIP, mass tables and EGM segments. Solaire\u2019s VIP rolling chip volume and mass table drop were PHP109.8bn (US$1.87bn) and PHP10.5bn (US$178.6m), representing year-on-year declines of 25 and 24 per cent, respectively. The property\u2019s electronic gaming machine segment recorded a 7 per cent year-on-year decrease in coin-in.<\/p>\n\n\n\n VIP GGR was PHP3.6bn (US$61.2m), down 10 per cent year-on-year, while mass table GGR was PHP4.5bn (US$76.5m), up 9 per cent. EGM GGR was PHP4.5bn (US$76.5m), down 13 per cent year-over-year. Non-gaming revenue was PHP1.9bn (US$32.3m), down 11 per cent. Net revenue was PHP10.2bn (US$173.6m), down 5 per cent. The venue generated EBITDA of PHP3.6bn (US$61.2m), down 18 per cent in year-on-year terms.<\/p>\n\n\n\nBloomberry Resorts posts net loss of US$8m for Q3<\/h2>\n\n\n\n