Casino operator Bloomberry Resorts Corporation closed the first half of the year with a net income of P1.9 billion, down 52.5 percent from P4 billion last year.
Revenues slid 9 percent, to P27 billion from P29.03 billion.
Gross gaming revenues hit P31.1 billion, down 6 percent from P33.08 billion.
In the second quarter alone, the company, which operates the integrated gaming complex Solaire Resort Entertainment City and Solaire Resort North, as well as Korea’s Jeju Sun Re-sort & Casino, posted a P1.9 billion loss, reversing the prior year’s P1.34 billion profit.
Revenues reached P12.64 billion, up 3.61 percent from P12.2 billion last year. GGR dropped 1 percent, to P14.3 billion from P14.5 billion last year.
“It was a challenging second quarter for Bloomberry as softness persisted in Solaire Enter-tainment City’s VIP and premium mass segments,” Enrique Razon Jr., Bloomberry chair-man and chief executive officer (CEO) said.
“However, Solaire North saw further growth as mass gaming volumes and non-gaming rev-enue increased over the previous quarter. The gains in our second property contributed to the performance of our Metro Manila mass gaming and non-gaming revenue, which rose 18 percent and 37 percent year-over-year, respectively,” he added.
