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Bloomberry Resorts reports a net loss of $4.1 million in 15Q3

Philippines-based casino operator Bloomberry Resorts Corp reported a net loss of PHP189.5 million ($4.1 million) in 15Q3, compared to a net profit of PHP991.7 million in the prior year period.

The third quarter net loss was “a significant quarter-on-quarter improvement” from a net loss of PHP787 million reported in 15Q2, the company said.

“Our investments in the Sky Tower are beginning to show returns. Given the improvement in Philippine operations and the opening of a new revenue stream, we are hopeful that returns will continue to gain higher ground,” chairman Enrique Razon said.

Solaire Casino’s gross gaming revenue for the third quarter of 2015 increased by 19.5 percent to P8.8 billion comparatively, driven by an increase of P895.6 million in gross VIP revenues, P190.8 million in mass tables and P101.7 million in gross slot revenue. 

Gaming capacity increased by 66 table games and 223 slot machines with the opening of the Sky Tower in November 2014, resulting in an increase in Solaire’s gaming positions by 622. 

Jeju Sun, which Bloomberry recently took over, registered P124.3 million gross gaming revenues in 15Q3 after it resumed its gaming operations on September 15.

“Management decided to suspend its casino operation in May 2015 to comprehensively remodel and enlarge the property’s gaming area,” Bloomberry said.


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