Bloomberry Resorts Corporation, the gaming business of billionaire Enrique Razon Jr., reported a 160 percent surge in consolidated net income to P6.4 billion in the first half of 2023 from the P2.5 billion earned in the same period last year.
In a disclosure to the Philippine Stock Exchange, the firm said it almost doubled its consolidated net income to P3.4 billion for the second quarter, 92 percent higher than the P1.8 billion reported in the same period last year. After removing the impact of a P356.6 million one-time gain on sale from the disposition of an asset at Solaire Korea, consolidated net income for the quarter would have increased by 72 percent year-over-year, while first half income would have increased by 145 percent.
He noted that, “Gaming volumes in both VIP and mass gaming extended their gains year-over-year, highlighting the strength of the Philippines’ domestic gaming market and gradually recovering international visitation profile.” In the first six months, total gross gaming revenues was P31.2 billion, higher by 41 percent year-over-year as domestic market strength was maintained in the second quarter.
Solaire Korea’s Jeju Sun Hotel & Casino recorded gross gaming revenue of P4.7 million in the second quarter, P3.5 million higher than the previous quarter.
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