EBITDA turnaround steers Bloomberry profitability

A 174.5 per cent increase in EBITDA helped Bloomberry Resorts return to profitability in 2022.

The operator of the Solaire Resort & Casino saw yet another strong quarter to finish out the year, posting profits of PHP5.1bn (US$92.28m) compared to a loss of PHP4.2bn ($76bn) in 2021.

The turnaround in EBITDA saw the figure total PHP14.31bn ($259.06m).

This was backed by a 76.8 per cent jump in net revenue, which totalled PHP38.92bn ($704.23m) during the year.

Bloomberry Resorts’ Philippines segment showed impressive growth, with gross gaming revenue climbing by 84 per cent to PHP14.7bn ($266.16m).

For the year, GGR at Solaire totalled PHP50.12bn ($905.17m), with revenue split evenly between the segments. VIP GGR totalled PHP16.45bn ($297.88m), while mass tables was PHP16.78bn ($303.41m) and slots GGR was PHP16.88bn ($305.22m).

Source: Asia Gaming Brief