Bloomberry set for record year as mass market buoys Solaire’s Q3

Philippine casino operator Bloomberry Resorts Corp reported Q3 profits rising nearly one-third based on a thriving mass market business at its flagship Manila integrated resort.

On Thursday, Bloomberry released its Q3 earnings report, which showed revenue of P9.6b (US $187.2m) in the three months ending September 30, a 22.3% rise over the same period last year. Earnings were up 33% to P3.4b, while net profits rose 31% to P1.85b.

Business was booming at Bloomberry’s Solare Resort & Casino in Manila’s Entertainment City gaming district. Mass table drop was up 22% year-on-year to P9.7b, a new quarterly record, while mass electronic gaming machine (EGM) coin-in shot up 38% to P49.7b, also a record.

Solaire’s VIP gaming turnover declined 13% but VIP revenue improved 14% to P5.4b based on Q3 2016 having endured a pitifully low 2.16% VIP win rate, which rebounded to 2.83% in the most recent quarter. And while turnover and revenue were both down from Q2, the VIP turnover figure still ranked third-best since Solaire opened in 2013.