Bloomberry income soars 85%

Sharing its financial results for FY2023 ending December 31, 2023, Bloomberry Resorts reported a consolidated net income of P9.5bn, an 85 per cent increase from P5.1bn against the previous year.

Consolidated new revenue was P48.4bn, up 24 per cent from P38.9bn in the previous year. Consolidated EBITDA reached P19.3bn, a 35 per cent increase of the previous year’s P14.3bn.

For Q4 2023 alone, consolidated net revenue was up at P11.9bn, consolidated net income was P1.3bn, and consolidated EBITDA was P3.9bn.

Enrique K. Razon Jr, Bloomberry chairman and CEO, said: “I am pleased to report our financial and operating results for 2023, which reflect a resilient Philippine economy amid a challenging global economic landscape.

“Driven by a strong domestic market, our annual EBITDA and net profit grew by 35 per cent and 85 per cent year-over-year, respectively. Our mass table games, electronic gaming machines and non-gaming segments performed remarkably as revenues in these areas breached 2019 pre-pandemic levels by a significant margin.

“We have high hopes for 2024, especially as we open our second integrated resort in the thriving metropolis of Quezon City. The construction of Solaire Resort North is almost complete, and we plan to launch late in May of this year. Solaire Resort North will massively enhance our luxury gaming and entertainment portfolio and solidify our standing as the leading integrated resort developer and operator in the Philippines.”