A prominent Philippine casino operator, Bloomberry Resorts Corporation, unveiled stellar financial performance for the second quarter of 2022. The firm’s earnings skyrocketed to 1.8 billion Philippine pesos (roughly US$32.5 million), representing an impressive 112% surge from the corresponding period a year earlier. This profit leap was driven by a robust recovery in gaming income as COVID-19 limitations relaxed in the Philippines, enabling Bloomberry to leverage the pent-up desire for casino amusement.
The company’s premier establishment, Solaire Resort & Casino in Manila, witnessed a substantial 131% year-over-year rise in gross gaming receipts, reaching 13.1 billion Philippine pesos. Every gaming category, encompassing VIP, mass tables, and electronic gaming devices, experienced significant expansion, underscoring the widespread revival in customer engagement.
Enrique Razon Jr., Bloomberry’s Chairman and CEO, conveyed confidence in the company’s future outlook, noting that the second-quarter outcomes illustrate the continuing resurgence of its Philippine ventures. Nevertheless, the company’s Jeju Sun Hotel & Casino in South Korea stayed shuttered throughout this timeframe owing to persistent pandemic-linked obstacles.
The Philippines-based gaming and leisure corporation, Bloomberry, has experienced a remarkable recovery from the pandemic downturn. Their latest financial statement reveals a substantial rise in income, primarily fueled by a resurgence in local consumption. This upswing has propelled their earnings significantly past pre-pandemic figures, presenting a much brighter outlook compared to some of their peers, such as MGM China, who are still grappling with the consequences of travel limitations.
During the initial six months of 2022 alone, Bloomberry’s overall gaming income witnessed a staggering 76% year-over-year increase, reaching PHP 20 billion. Their earnings soared by an even more remarkable 174%, reaching PHP 6.7 billion. This positive shift transformed their 2021 net deficit of PHP 1.9 billion into a robust net income of PHP 2.5 billion.
While recognizing the unpredictable character of the pandemic, Bloomberry maintains a hopeful stance on the future. They foresee further expansion as regional tourism recovers, especially if new, disruptive COVID strains are contained. Their approach to sustaining this upward trajectory? Persist in providing exceptional service and prioritize the well-being and security of patrons at their flagship establishment, Solaire.
