Record-high gross gaming revenues lift Philippine casino operator Bloomberry Resorts Corp. back to profitability in the second quarter of 2016.

In a disclosure to the Philippine Stock Exchange on Thursday, Bloomberry’s net profit surged by 69 percent to PHP1.33 billion (US$ 28.45 million) in April-June period of 2016, which is a rebound from the net loss of P787 million (US$16.84 million) in the same period last year.

The strong second quarter performance of Bloomberry, operator of Solaire Resort & Casino, made it possible for the casino operator to chalk up a net profit of PHP174 million (US$ 3.72 million) for the first half of 2016, a turnaround from the PHP1.32 billion (US$28.24 million) net loss incurred in the same period last year.

Excluding the P434 million (US$ 9.29 million) drag from Korea, Bloomberry would have reported P608 million (US$13 million) in net profit in the first six months.