Bloomberry books P5.9B losses

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    Bloomberry Resorts Corp. posted a loss of P5.9 billion for the first nine months of the year, compared to a profit of P8.6 billion last year, amid a challenging business environment.

    Revenue reached P13.6 billion, down 62 percent from P35.7 billion last year.

    The company said it booked an earnings before interest tax depreciation and amortization (EBITDA) of P1.3 billion, down 92 percent from P15.8 billion last year.

    ISolaire Resort and Casino booked a gross gaming revenue (GGR) P17.3 billion, down 62 percent from last year.

    VIP, mass tables and electronic gaming machine GGR were at P6.9 billion, P5.3 billion and P5.1 billion, respectively, representing declines of 67 percent, 56 percent, and 59 percent, respectively.

    “Our third quarter results reflect the difficult business environment brought about by the pandemic, which has negatively impacted international travel and overall demand for leisure and gaming entertainment services. In the near term, we hope to see a recovery as domestic quarantine restrictions are eased further,” said Enrique K. Razon Jr., Bloomberry chairman.