Asia

Bloomberry Reports Profit Down for Q1 2019

Published

6 years ago

May 13, 2019

Niji Narayan

Bloomberry Reports Profit Down for Q1 2019

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Bloomberry Resorts Corp, the Philippine casino operator, has released its financial results for the first quarter of 2019. The report shows that profits decreased by 40% year-on-year in the first quarter of the year.

Bloomberry said that profits were down because of “meaningfully lower foreign exchange gains and higher interest expenses”. Profits totalled €37.7 million, down from nearly €63.5 million.

Gross gaming revenue (GGR) was €233.5 million, which is a 1% decrease year-on-year. Gaming revenue, on the other hand, increased by 0.9% when compared to the previous year to €151.9 million.

“Our net revenues and EBITDA improved thanks to our highly-profitable mass gaming segments where our innovative customer experience and engagement programmes continue to reward us with a database of loyal patrons,” Enrique Razon, chairman and chief executive of Bloomberry Resort said.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.