Final quarter of 2020 gives Bloomberry hope


Final quarter of 2020 gives Bloomberry hope

Asia-based operator Bloomberry saw a significant improvement in gross gaming revenue (GGR) for Q4 2020.

Total GGR at Bloomberry’s Solaire Casino was P5.3bn ($111m) for the period, a 63% year-on-year decline.  However, combined mass tables and EGM GGR saw an improvement of 75%.

2020 figures have naturally been severely affected by the Covid-19 pandemic, with measures to control the virus seeing Solaire Casino close its doors between March and June 2020.

Even though things improved in June, the casino was only able to operate at limited capacity for its gaming, hotel and retail businesses.

This resulted in a decline in net revenue for Bloomberry, as it suffered a consolidated net loss of P2.5bn; compared to net profit of P1.4bn in the same quarter last year.

However, the 75% improvement in the final quarter of 2020 gives the business some encouragement as it aims to grow in 2021.

Chairman and CEO of Bloomberry, Enrique K. Razon Jr, said: “I am encouraged by our performance in the final quarter of 2020, particularly as we saw domestic mass gaming revenues increase by 75% compared to the previous quarter.

“Our recovery is well underway. We look forward to a more meaningful improvement in 2021, should we see further easing of domestic quarantine restrictions, and the eventual resumption of travel and tourism across our key markets”.