Bloomberry Resorts cuts losses despite ongoing Korean closures

Solaire operator Bloomberry Resorts grew its revenue and cut its losses in Q3, even as its Korean operations remained closed.

Gross revenue came to PHP7.44bn, a 59.1% increase, including PHP7.09bn in gross gaming revenue, a 61.9% improvement.

Almost all of the gross revenue came from the Philippines, while PHP1.2m – all from non-gaming sources – came from Korea, where Bloomberry operates the Jeju Sun property which was closed for the whole quarter.

This gross gaming revenue came on PHP152.76bn worth of stakes. VIP table stakes made up most of this total, at PHP107.79bn, while PHP5.96bn came from non-VIP tables and PHP39.00bn came from slots.

““In the third quarter, Bloomberry realized higher gaming volumes and revenues despite the intermittent business conditions brought about by shifting quarantine classifications,” Bloomberry chief executive Enrique K. Razon said. “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.”

Source: https://igamingbusiness.com/bloomberry-resorts-cuts-losses-despite-ongoing-korean-closures/