Bloomberry cuts net loss to P4.2b

Casino operator Bloomberry Resorts Corp. said Monday it narrowed its net loss in 2021 to P4.2 billion from P8.3 billion in 2020 as the pandemic continued to affect the company’s operations.

Bloomberry said in a financial report to the stock exchange gross gaming revenues at Solaire Resorts Casino rose 22 percent in 2021 to P27.6 billion from P22.6 billion in 2020 even as it continued to operate on a limited capacity because of the pandemic.

“The year 2021 demonstrated the resilience of our business amidst a pandemic characterized by a slowly recovering economy and the absence of tourism. Compared to 2020, it was a better year for Bloomberry as it was propped up by the domestic patronage which grew our mass gaming revenues by 43 percent and EBITDA by 265 percent,” Bloomberry chairman and chief executive Enrique Razon Jr. said.

“While we look forward to better days ahead, we remain equipped to operate under challenging circumstances if they materialize. Even as COVID-19 restrictions are eased around the world, Bloomberry will continue to uphold its market-leading health standards for the safety of both guests and team members,” Razon said.