Bloomberry Resorts reports 112% rise in net revenue for Q2

Bloomberry Resorts has reported net income of PHP 1.8bn (US$32.5m) for the second quarter of 2022, with net revenue rising 112% year-on-year to PHP 10bn.

EBITDA rose 277% year-on-year to PHP 3.9bn, while net profit was PHP1.8bn, reversing from net loss of PHP 1.2bn in the prior-year quarter. Cash and cash equivalents as of 30 June 2022 rose to PHP 36.8bn.

The company’s subsidiaries own and operate Solaire Resort & Casino and Jeju Sun Hotel & Casino.

Total gross gaming revenue at Solaire was PHP 13.1bn, a 131% increase from the second quarter of 2021, with eased Covid-19 restrictions throughout the quarter furthering the recovery of gaming revenues.

Solaire’s VIP, mass table and EGM gross gaming revenues in the period amounted to PHP 4.4bn, PHP 4.1bn, and PHP 4.6bn respectively. The figures represented year-on-year increases of 281%, 45% and 175% respectively. Bloomberry noted that year-over-year growth across all segments was driven by higher gaming volumes.

Source: https://www.gamblinginsider.com/news/17553/bloomberry-resorts-reports-112-rise-in-net-revenue-for-q2