Bloomberry earned P8.6b in 9 months

Bloomberry Resorts Corp., the owner and operator of Solaire Resort & Casino, said third-quarter net income surged 245 percent to P3.9 billion from P1.13 billion in the same period last year on higher gaming revenues.

This brought nine-month net income to P8.56 billion, up by 33 percent from P6.44 billion a year ago.

Bloomberry said in disclosure to the stock exchange total gross gaming revenue at Solaire went up by 46 percent in the third quarter to P17.11 billion, driven by higher VIP revenues and strength in the mass gaming segments.

“I am pleased to report third-quarter net profit of P3.91 billion, representing a 245-percent year-on-year increase despite incurring higher interest expenses and foreign exchange losses. We are now in the last stretch of 2019, and we look forward to delivering a strong set of full year results,” Bloomberry chairman and chief executive Enrique Razon Jr. said.