{"id":273,"date":"2024-06-28T10:41:19","date_gmt":"2024-06-28T07:41:19","guid":{"rendered":"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/2024\/06\/28\/bloomberry-resorts-sees-income-rise-losses-narrow-in-q3\/"},"modified":"2024-06-28T10:41:19","modified_gmt":"2024-06-28T07:41:19","slug":"bloomberry-resorts-sees-income-rise-losses-narrow-in-q3","status":"publish","type":"post","link":"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/2024\/06\/28\/bloomberry-resorts-sees-income-rise-losses-narrow-in-q3\/","title":{"rendered":"Bloomberry Resorts Sees Income Rise, Losses Narrow in Q3"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/0-9Af2Pn_tM\" frameborder=\"0\" allowfullscreen><br>\n<\/iframe><\/p>\n<p>Bloomberry Resorts, despite its South Korean operations remaining closed, experienced an upswing in income and a decline in financial losses during the third quarter.<\/p>\n<p>The operator of Solaire, Bloomberry Resorts, achieved revenue growth and reduced losses in the third quarter, despite its South Korean operations remaining closed.<\/p>\n<p>Bloomberry Resorts, despite its South Korean operations remaining closed, saw a reduction in losses.<\/p>\n<p>Total revenue was 7.44 billion Philippine pesos, a rise of 59.1%, with total gaming revenue at 7.09 billion Philippine pesos, an increase of 61.9%.<\/p>\n<p>Nearly all of the total revenue came from the Philippines, while the 1.2 million Philippine pesos (all from non-gaming sources) came from Korea, where Bloomberry operates the Jeju Sun Hotel, which was closed throughout the quarter.<\/p>\n<p>Total gaming revenue came from 152.76 billion Philippine pesos in wagers. VIP table wagers made up the majority of the total, at 107.79 billion Philippine pesos, non-VIP table wagers at 5.96 billion Philippine pesos, and slot machine wagers at 3.9 billion Philippine pesos.<\/p>\n<p>\u201cDespite the intermittent business environment brought about by the ever-changing quarantine classifications, Bloomberry\u2019s gaming volume and revenue still increased in the third quarter,\u201d said Bloomberry CEO Enrique K. Razon. \u201cWe are ready to continue operating in this environment, but we look forward to a more stable environment as domestic restrictions ease with the rise in vaccination rates.\u201d<\/p>\n<p>Bloomberry\u2019s net income was 500 million Philippine pesos after adjustments for PFRS 15 reporting standards and an increase in debit accounts. <\/p>\n<p>Bloomberry\u2019s income reached 140 billion pesos, a 59.3% rise, which incorporates 43.7 billion pesos from web-based gaming, a 65.5% surge.<\/p>\n<p>Following that, Bloomberry\u2019s operational expenses reached 39.3 billion pesos, a 21.7% increase from 2020, plus 2.936 billion pesos in \u201cquestionable accounts\u201d reserves.<\/p>\n<p>This led to earnings before interest, taxes, depreciation, and amortization (EBITDA) of 9.101 billion pesos, a 663.5% jump.<\/p>\n<p>Depreciation and amortization expenditures were 8.615 billion pesos, a 2.8% rise, while interest and foreign exchange losses declined by 26.1% to 11.1 billion pesos, resulting in a net loss of 10.5 billion pesos, lower than the net loss of 25.4 billion pesos in the third quarter of 2020.<\/p>\n<p>Razon also emphasized Bloomberry\u2019s contribution to the Philippines\u2019 inoculation campaign.<\/p>\n<p>\u201cDespite the relatively relaxed movement restrictions, Bloomberry remains dedicated to safeguarding the well-being of its on-site patrons and team members by maintaining its industry-benchmark health and safety protocols,\u201d Razon stated.<\/p>\n<p>\u201cLast August, Bloomberry partnered with the ICTSI Foundation to open the Solaire-ICTSI Foundation Vaccination Center. This large-scale vaccination drive, which features walk-in and drive-thru facilities, is part of our ongoing contribution to the pandemic response. This new location and Solaire\u2019s operations continue to run smoothly, efficiently, and safely.\u201d <\/p>\n<p>Bloomberry has been engaged in a legal dispute with Global Gaming Asset Management (GGAM) regarding the termination of their management agreement for the Solaire resort and casino.<\/p>\n<p>In the previous month, a Singaporean court determined that GGAM is obligated to pay $296.6 million for breaching the contract. GGAM challenged this ruling, but the court upheld its decision.<\/p>\n<p>GGAM has now initiated a fresh legal action in New York. They aim to hold Razon, who possesses property in the United States, personally liable for the financial obligation.<\/p>\n<p>This recent lawsuit provides further details about the interactions between Razon and GGAM. It alleges that Razon utilized a clandestine financial link with a former head of the Philippine Stock Exchange to hinder GGAM from divesting its shares.<\/p>\n<p>Bloomberry maintains that GGAM could still attempt to recover the funds in the Philippines, given that Bloomberry\u2019s operations are based there. However, Bloomberry asserts that they will vigorously oppose any such efforts by employing Philippine law. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberry Resorts, despite its South Korean operations remaining closed, experienced an upswing in income and a decline in financial losses during the third quarter. The operator of Solaire, Bloomberry Resorts, achieved revenue growth and reduced losses in the third quarter, despite its South Korean operations remaining closed. Bloomberry Resorts, despite its South Korean operations remaining [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bloomberry Resorts Beats Losses Despite Korea Closure<\/title>\n<meta name=\"description\" content=\"Bloomberry Resorts, operator of Solaire, saw revenue growth and reduced losses in Q3 despite its South Korean operations remaining closed.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/2024\/06\/28\/bloomberry-resorts-sees-income-rise-losses-narrow-in-q3\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Bloomberry Resorts Sees Income Rise, Losses Narrow in Q3\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Bloomberry Resorts, operator of Solaire, saw revenue growth and reduced losses in Q3 despite its South Korean operations remaining closed.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/2024\/06\/28\/bloomberry-resorts-sees-income-rise-losses-narrow-in-q3\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Unleash Your Winning Spirit at Our Licensed Online Casino\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T07:41:19+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/2024\/06\/28\/bloomberry-resorts-sees-income-rise-losses-narrow-in-q3\/\",\"url\":\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/2024\/06\/28\/bloomberry-resorts-sees-income-rise-losses-narrow-in-q3\/\",\"name\":\"Bloomberry Resorts Beats Losses Despite Korea Closure\",\"isPartOf\":{\"@id\":\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/#website\"},\"datePublished\":\"2024-06-28T07:41:19+00:00\",\"dateModified\":\"2024-06-28T07:41:19+00:00\",\"author\":{\"@id\":\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Bloomberry Resorts, operator of Solaire, saw revenue growth and reduced losses in Q3 despite its South Korean operations remaining closed.\",\"breadcrumb\":{\"@id\":\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/2024\/06\/28\/bloomberry-resorts-sees-income-rise-losses-narrow-in-q3\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/2024\/06\/28\/bloomberry-resorts-sees-income-rise-losses-narrow-in-q3\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/2024\/06\/28\/bloomberry-resorts-sees-income-rise-losses-narrow-in-q3\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bloomberry Resorts Sees Income Rise, Losses Narrow in Q3\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/#website\",\"url\":\"https:\/\/clubplayercasino150nodepositbonuscodes2023.icu\/\",\"name\":\"Unleash Your Winning Spirit at Our Licensed Online Casino\",\"description\":\"Explore the dynamic world of online gambling with our up-to-date news, in-depth reviews, and expert articles. 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