SOLAIRE Resort & Casino operator Bloomberry Resorts Corp. announced on Monday that it trimmed its net loss for 2021 to P4.2 billion from a loss of P8.3 billion in 2020.
Bloomberry’s consolidated net revenue in 2021 was P22 billion, representing an increase of 24% from P17.8 billion a year earlier, the company said in a disclosure to the stock exchange.
The company saw its total gross gaming revenue at Solaire increase 22% to P27.6 billion from P22.6 billion in 2020.
Meanwhile, its VIP gross gaming revenue at Solaire declined 16% year on year to P6.7 billion.
“Mass tables and electronic gaming machine gross gaming revenues were P11.3 billion and P9.5 billion, representing year-on-year increase of 54% and 32%, respectively,” the company noted.
Bloomberry’s EBITDA, or earnings before interest, taxes, depreciation, and amortization, was P5.2 billion last year, higher by 265% from P1.4 billion in 2020.
As for the fourth quarter of 2021, the company’s net revenue reached P6.6 billion, representing an increase of 58% year on year.
Its total gross gaming revenue at Solaire reached P8 billion, up 50% from P5.3 billion in the same period of 2020.
“Mass tables and electronic gaming machine gross gaming revenues, increased by 19% and 30% on a sequential basis, respectively and were higher by 63% and 42% year on year, respectively,” the company said.
Its EBITDA for the fourth quarter was P1.9 billion, compared with the P129 million in the same period in 2020.
“The year 2021 demonstrated the resilience of our business amidst a pandemic characterized by a slowly recovering economy and the absence of tourism,” said Enrique K. Razon Jr., Bloomberry chairman and chief executive officer.
“It was a better year for Bloomberry as it was propped up by the domestic patronage which grew our mass gaming revenues by 43% and EBITDA by 265%. While we look forward to better days ahead, we remain equipped to operate under challenging circumstances if they materialize,” he added.
Among the highlights of 2021, according to the company, was its partnership with the International Container Terminal Services, Inc. and the Philippine government for the procurement of 20 million doses of Moderna vaccines — 13 million doses for the Philippine government and seven million doses for the private sector.
“Another 4.5 million doses of Oxford-AstraZeneca vaccines were donated to the various local government municipalities,” it added.
Bloomberry and ICTSI financed, constructed, and currently operate the Solaire-ICTSI Foundation Vaccination Center in Parañaque City.
Bloomberry Resorts shares closed 4.67% lower at P7.15 apiece on Monday. — Arjay L. Balinbin
