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Tuesday, March 28, 2023

Philippines: The casino operator has achieved a net profit of P5.1 billion, signifying a return to lucrativeness after incurring a loss of P4.2 billion.

Bloomberry Resorts, which operates Solaire Resort & Casino, an integrated casino facility in the city of Parañaque in the metropolitan area, reported its financial results for 2022 with a net profit of PHP 5.1 billion, up from the PHP 4.2 billion recorded in 2021 during the corona crisis. It said it had recovered from a loss to a profit. Consolidated net revenue increased by 77% from 2021 to 38.9 billion pesos last year due to a greater number of domestic and foreign tourists and leisure visitors than in 2021. Total casino game revenue also increased by 81% year-on-year to Php50.1 billion. The hotel occupancy rate averaged 53.7% last year, a significant improvement from 19.2% in 2021. (3rd, Manila Times)

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