Bloomberry’s profits fell down significantly during the first quarter of 2019.
Philippines.- Bloomberry Resorts Corp has released its financial results for the first three-month period of 2019. The report shows that Bloomberry’s profits decreased by 40% year-on-year in the first quarter of the year.
The Philippine casino operator Bloomberry said that profits were down because of “meaningfully lower foreign exchange gains and higher interest expenses”. Profits totalled €37.7 million, down from nearly €63.5 million.
Gross gaming revenue (GGR) was €233.5 million, which is a 1% decrease year-on-year. Gaming revenue, on the other hand, increased by 0.9% when compared to the previous year to €151.9 million.
Enrique Razon, chairman and chief executive of Bloomberry Resort, said: “Our net revenues and EBITDA improved thanks to our highly-profitable mass gaming segments where our innovative customer experience and engagement programmes continue to reward us with a database of loyal patrons.”