Bloomberry cuts their losses nearly in half in Q3, 2020

Bloomberry Resorts finally saw some life in their portfolio in Q3 2020, thanks to the reopening of Solaire Resort & Casino, but that hasn’t stopped the bleeding. The casino operator reported a P2.5 billion ($52 million) loss for the period.

That’s still a lot better than the P4.7 billion ($96.2 million) loss they had in Q2, but far down from their profit of P3.9 billion ($80.9 million) the previous year. But Solaire being allowed to partially reopen cut those losses in half quarter over quarter, as the casino increased its revenue from P686.6 million ($14.1 million) to P4.4 billion ($91.3 million).

VIPs, who would have been the first invited back with restricted crowd sizes, made up almost half of that Gross Gaming Revenue (GGR) at P2 billion. Mass table and EGM brought in P1.1 billion and P1.3 billion respectively. Year over year, all three segments saw a decline of more than 70%.

Bloomberry’s South Korean casino, Jeju Sun, is still not open and recorded no revenue.