Bloomberry Resorts announces cash dividend

The company also announced plans for a new online platform to expand its presence in electronic gaming.

The Philippines.- Casino operator Bloomberry Resorts has announced a special cash dividend of PHP0.0847 (US$0.0014) per share. The dividend will be payable on April 3 to shareholders registered as of March 25.

Meanwhile, chairman and CEO Enrique K. Razon Junior has announced plans to launch an online platform to expand Bloomberry’s presence in the electronic gaming space. According to local media, Razon Jr. said the new online platform targets a broader audience and “will compete directly with offerings of other electronic gaming license holders, including BingoPlus, the online casino brand developed by DigiPlus Interactive Corp.”

In its financial results for the year 2024, the company reported gross gaming revenue (GGR) of PHP61.7bn (US$1.08bn). That’s an increase of 6 per cent in year-on-year terms. The growth was mainly due to the opening of Solaire Resort North (SN) for 221 days of the year.

The casino operator reported net income of PHP2.6bn (US$45.9m), down 72.63 per cent year-on-year. Consolidated net revenue was PHP53.1bn (US$930.6m), up 10 per cent, while non-gaming revenue was PHP10.7bn (US$187.3m), up 23 per cent year-on-year.

Consolidated EBITDA reached PHP16.6bn (US$290.5m), down 14 per cent. The decline was mostly due to lower EBITDA generated by Solaire Resort Entertainment City (SEC) and pre-operating expenses associated with SN, which were partially offset by its ramp-up. The mass market segment showed stronger performance than the VIP business.

The company also announced plans for a new online platform to expand its presence in electronic gaming. The Philippines.- Casino operator Bloomberry Resorts has announced a special cash dividend of PHP0.0847 (US$0.0014)…