Solaire operator recovers in 2016 with P2.3-B net profit

ABS-CBN News

Posted at Mar 23 2017 04:40 PM

MANILA - Bloomberry Resorts Corp., the operator of Solaire Casino, said Thursday it swung back to profit last year on the back of record gaming volumes and revenues.

Net profit reached P2.323 billion in 2016, a turnaround from the P3.375 billion loss in 2015, the company told the stock exchange.

Gross gaming revenues grew 19 percent to P38.342 billion while volumes rose a record 29 percent for VIP tables, 12 percent for mass table drop, and 18 percent for electronic gaming machines, it added.

“The year was not without its challenges, but our continuing programs on financial management, marketing, property and systems improvements, and staff engagement rallied us through," Enrique Razon Jr., Bloomberry chairman and CEO said.

Bloomberry shares closed 0.40 percent lower to P7.40.