Bloomberry 4Q EBITDA jumps, GGR up 50pct y-o-y

Philippine casino operator Bloomberry Resorts Corp reported consolidated earnings before interest, taxation, depreciation and amortisation (EBITDA) of PHP1.9 billion (US$36.4 million) for the fourth quarter of 2021, versus PHP129.3 million a year earlier. The EBITDA figure more than doubled from the preceding quarter, according to a Monday filing.

The firm operates the Solaire Resort and Casino venue (pictured in a file photo) at Entertainment City, Manila, in the Philippine capital. It is also developing another resort – known as Solaire North – at Quezon City on the outskirts of the Metro Manila area. The latter project is scheduled to open in the second half of 2023, according to Bloomberry’s annual report.

In addition, the firm has an operation in South Korea, which remains suspended because of the Covid-19 pandemic.

The company said aggregate gross gaming revenue (GGR) at Solaire was PHP8.0 billion in the three months to December 31, an increase of 50 percent from the prior-year period. It was also up from the PHP7.1-billion GGR in the third quarter.

The company said its fourth-quarter performance improved as “domestic patron confidence continues to improve due to the sustained de-escalation of quarantine classification.”

The improvement in GGR performance in the final quarter of 2021 coincided with an easing of capacity restrictions in November for the country’s casino sector, including at Entertainment City.

Source: https://www.ggrasia.com/bloomberry-4q-ebitda-jumps-ggr-up-50pct-y-o-y/