{"id":248,"date":"2024-06-27T01:28:19","date_gmt":"2024-06-26T22:28:19","guid":{"rendered":"https:\/\/diamondreelsnodepositbonus.icu\/2024\/06\/27\/bloomberry-resorts-reports-surge-in-earnings-reduction-in-losses\/"},"modified":"2024-06-27T01:28:19","modified_gmt":"2024-06-26T22:28:19","slug":"bloomberry-resorts-reports-surge-in-earnings-reduction-in-losses","status":"publish","type":"post","link":"https:\/\/diamondreelsnodepositbonus.icu\/2024\/06\/27\/bloomberry-resorts-reports-surge-in-earnings-reduction-in-losses\/","title":{"rendered":"Bloomberry Resorts Reports Surge in Earnings, Reduction in Losses"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/WludjN07cDU\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Bloomberry Resorts, the operator of Solaire, experienced a rise in income and a reduction in losses during the third quarter, even though its Korean operations remained shut down.<\/p>\n<p>Bloomberry Resorts observed a decline in losses despite its Korean operations staying closed.<\/p>\n<p>Total earnings were 74.4 billion Philippine pesos, a surge of 59.1%, with gross gaming income at 70.9 billion Philippine pesos, a rise of 61.9%.<\/p>\n<p>Nearly all of the total earnings originated from the Philippines, while 1.2 million Philippine pesos (all from non-gaming sources) came from Korea, where Bloomberry operates the Jeju Sun Hotel, which was closed for the entire quarter.<\/p>\n<p>Gross gaming income stemmed from 152.76 billion Philippine pesos in wagers. VIP table wagers constituted the majority of the total, at 107.79 billion Philippine pesos, while non-VIP table wagers were 5.96 billion Philippine pesos and slot machine wagers were 39 billion Philippine pesos.<\/p>\n<p>\u201cIn the third quarter, Bloomberry attained higher gaming volume and revenue despite the sporadic operating conditions brought about by the ever-changing quarantine classifications,\u201d said Bloomberry CEO Enrique K. Razon. \u201cWe are prepared to continue operating in this setting, but anticipate a more stable environment as domestic restrictions ease with the increase in vaccination rates.\u201d<\/p>\n<p>Bloomberry&#8217;s net income was 5 billion Philippine pesos after adjustments for PFRS 15 reporting standards and an increase in debit accounts. <\/p>\n<p>Bloomberry Resorts observed a significant rise in earnings, reaching 140 billion pesos in the third quarter of 2021. This represented a 59.3% jump compared to the previous year. The growth was primarily driven by a substantial surge in online gaming income, which climbed by 65.5% to 43.7 billion pesos.<\/p>\n<p>The company&#8217;s operational expenses also witnessed an increase, rising by 21.7% to 39.3 billion pesos. This included a 2.936 billion peso provision for uncertain accounts.<\/p>\n<p>These factors resulted in an EBITDA of 9.101 billion pesos, marking a substantial 663.5% increase from the corresponding period in the previous year.<\/p>\n<p>Depreciation and amortization costs saw a modest rise of 2.8% to 8.615 billion pesos. Meanwhile, interest and foreign exchange losses experienced a decline of 26.1% to 11.1 billion pesos. Consequently, the company recorded a net loss of 10.5 billion pesos, a decrease from the net loss of 25.4 billion pesos in the third quarter of 2020.<\/p>\n<p>Bloomberry also emphasized its contributions to the Philippines&#8217; vaccination program.<\/p>\n<p>&#8220;Despite the easing of mobility restrictions, Bloomberry remains committed to safeguarding the well-being of its on-site visitors and staff by maintaining its industry-leading health and safety measures,&#8221; stated Razon.<\/p>\n<p>&#8220;In August, Bloomberry collaborated with the ICTSI Foundation to establish the Solaire-ICTSI Foundation Vaccination Center. This extensive vaccination operation, featuring walk-in and drive-thru facilities, is part of our ongoing efforts to combat the pandemic. This new facility, along with Solaire&#8217;s operations, continues to function smoothly, efficiently, and securely.&#8221; <\/p>\n<p>Bloomberry is engaged in a legal dispute concerning the termination of its management agreement with Global Gaming Asset Management (GGAM), the operator of the Solaire Resort and Casino.<\/p>\n<p>Bloomberry asserts that GGAM could potentially initiate legal action in the Philippines to seek compensation, given that Bloomberry&#8217;s operations and assets are located there. In such a scenario, Bloomberry states that they would defend themselves by utilizing &#8220;Philippine law.&#8221; <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberry Resorts, the operator of Solaire, experienced a rise in income and a reduction in losses during the third quarter, even though its Korean operations remained shut down. Bloomberry Resorts&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bloomberry Resorts Soars: Income Up, Losses Down<\/title>\n<meta name=\"description\" content=\"Bloomberry Resorts sees a significant rise in income and a decrease in losses, fueled by strong performance in the Philippines.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/diamondreelsnodepositbonus.icu\/2024\/06\/27\/bloomberry-resorts-reports-surge-in-earnings-reduction-in-losses\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Bloomberry Resorts Reports Surge in Earnings, Reduction in Losses\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Bloomberry Resorts sees a significant rise in income and a decrease in losses, fueled by strong performance in the Philippines.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/diamondreelsnodepositbonus.icu\/2024\/06\/27\/bloomberry-resorts-reports-surge-in-earnings-reduction-in-losses\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Where Casino Lovers Unite | Licensed, Secure &amp; Exciting Games\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-26T22:28:19+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/diamondreelsnodepositbonus.icu\/2024\/06\/27\/bloomberry-resorts-reports-surge-in-earnings-reduction-in-losses\/\",\"url\":\"https:\/\/diamondreelsnodepositbonus.icu\/2024\/06\/27\/bloomberry-resorts-reports-surge-in-earnings-reduction-in-losses\/\",\"name\":\"Bloomberry Resorts Soars: Income Up, Losses Down\",\"isPartOf\":{\"@id\":\"https:\/\/diamondreelsnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-26T22:28:19+00:00\",\"dateModified\":\"2024-06-26T22:28:19+00:00\",\"author\":{\"@id\":\"https:\/\/diamondreelsnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Bloomberry Resorts sees a significant rise in income and a decrease in losses, fueled by strong performance in the Philippines.\",\"breadcrumb\":{\"@id\":\"https:\/\/diamondreelsnodepositbonus.icu\/2024\/06\/27\/bloomberry-resorts-reports-surge-in-earnings-reduction-in-losses\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/diamondreelsnodepositbonus.icu\/2024\/06\/27\/bloomberry-resorts-reports-surge-in-earnings-reduction-in-losses\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/diamondreelsnodepositbonus.icu\/2024\/06\/27\/bloomberry-resorts-reports-surge-in-earnings-reduction-in-losses\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/diamondreelsnodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bloomberry Resorts Reports Surge in Earnings, Reduction in Losses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/diamondreelsnodepositbonus.icu\/#website\",\"url\":\"https:\/\/diamondreelsnodepositbonus.icu\/\",\"name\":\"Where Casino Lovers Unite | Licensed, Secure &amp; Exciting Games\",\"description\":\"Unleash your gambling potential with the help of our comprehensive casino news, detailed game reviews, and informative articles. 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