Bloemberry Q1 profit falls by 40 pct on higher revenue

Philippine casino operator Bloomberry Resorts Corp's first-quarter revenue fell 40.0% year-over-year due to revenue actually growing across all operating segments through March 31.

In a press release on Wednesday, along with unaudited results filed with the Philippine Stock Exchange, it said the decline in profits was due to "significantly lower foreign exchange gains and higher interest costs."

The profit was 2.21 billion PHP ($42.5 million) compared to nearly 3.7 billion PHP in the prior year.

The subsidiaries of Bloomberry Resort own and operate Soleir Resort and Casino in Manila, the capital of the Philippines, and the Jeju Sun Hotel and Casino in Jeju, a resort in Korea. Soleir generates most of the group's resort profits.

For gaming, Bloomberg Resorts reported group-wide gaming revenue (GGR) of 13.6 billion PHPs, down nearly 1% year-over-year. Gaming revenue (net of promotional expenses) was almost 8.85 billion PHPs, up 0.9% year-over-year, compared with nearly 8.77 billion PHPs in the same period last year.

However, Soler's VIP GGR actually fell 15.9% to 5.98 billion PHP from 7.11 billion in the same period a year earlier. Soler's VIP play holding in the first quarter fell 39 basis points to 3.22%, down from 3.61% a year earlier, the company said.

MANILA Real Estate's MassTable Play GGR increased 23.5% to nearly 4 billion PHPs from 3.24 billion in the prior-year quarter during the reporting period.

Slot gaming revenue rose 8.7% to $3.64 billion from nearly $3.35 billion in the first quarter of 2018.

Consolidated earnings (EBITDA) for the quarter before interest, taxation, depreciation and amortization came to 4.55 billion PHP, down 0.8% from nearly 4.54 billion in the prior-year quarter.

BY: 슬롯사이트 순위