at the Star Entertainment Group<\/a>, the CEO of Crown Melbourne, the president of City of Dreams Macau, and the CEO of Altira Hotel Macau.<\/p>\n\n\n\nBloomberry Resorts posts net loss of US$8m for Q3<\/h2>\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","protected":false},"excerpt":{"rendered":"
Hawkins previously led Solaire North.<\/p>\n","protected":false},"author":176,"featured_media":21007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Bloomberry Resorts Corporation has appointed Gregory Francis Hawkins as acting Chief Operating Officer, succeeding Thomas Arasi. This leadership transition coincides with the company reporting a Q3 net loss of US$8m, despite a 22% year-on-year Gross Gaming Revenue (GGR) increase driven by Solaire Resort North's initial full quarter of operations. The reported net loss is primarily attributed to higher depreciation, amortisation, and interest expenses associated with the new integrated resort.","focusai_entities":"Gregory Francis Hawkins, Thomas Arasi, Bloomberry Resorts Corporation, Bloomberry Resorts and Hotels, Solaire North, The Star Entertainment Group, Crown Melbourne, City of Dreams Macau, Altira Hotel Macau, Solaire Resort North","focusai_location":"Philippines, Macau, Australia","focusai_target_profile":"ceo_executive (0.95), investor_analyst (0.98), operator_casino (0.9), supplier_vendor (0.75), journalist_researcher (0.92)","focusai_suggestions":[{"label":"COO Impact on Strategy","query":"How will Gregory Francis Hawkins' extensive experience in integrated resorts, particularly his prior leadership at Solaire North, influence Bloomberry's operational strategy and market expansion initiatives moving forward?"},{"label":"Solaire North Profitability","query":"Given the Q3 net loss despite GGR growth, what specific cost management strategies and revenue optimization efforts are planned to transition Solaire North into a net profit contributor in subsequent quarters?"}],"footnotes":""},"categories":[157,16333],"tags":[15417,23632],"class_list":["post-777021671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-bloomberry-resorts","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777021671"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021671\/revisions"}],"predecessor-version":[{"id":777021688,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021671\/revisions\/777021688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21007"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777021671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777021671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777021671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}