Bloomberry Resorts Corp (PSE:BLOOM) Reports Php7.1-Billion Q3 Revenue Growth

MANILA, Philippines – From January to September of this year, Bloomberry Resorts Corporation (PSE:BLOOM), owner and operator (through its subsidiaries) of Solaire Resort & Casino and Jeju Sun Hotel & Casino, reported unaudited consolidated revenues (net of promotional allowances) of P19.424 billion, up from P16.975 billion in the same period last year.

The Company reported a P1.509 billion loss in contrast to P3.299 billion in net profits last year.

For the quarter ended September 30, 2015, Bloomberry Resorts Corporation (PSE:BLOOM) reported revenues (net of promotional allowances) of P7.094 billion, 29 percent higher year-on-year from P5.512 billion and 19 percent higher quarter-on-quarter from P5.986 billion.

On a sequential basis, Philippine operations reported P281 million in net profit while Korea generated P471 million in net losses. Profitable Philippine operations reduced the consolidated third quarter net loss to P189 million, significantly narrower than the P787 million loss reported in the previous quarter.

“Our investments in the Sky Tower are beginning to show returns. Given the improvement in Philippine operations and the opening of a new revenue stream, we are hopeful that returns will continue to gain higher ground,” says Enrique K. Razon Jr., Bloomberry Chairman and CEO. – BusinessNewsAsia.com