Bloomberry Resorts Corporation, an organization that possesses and manages Solaire Resort & Casino in the Philippines and Jeju Sun Hotel & Casino in South Korea, recently declared an outstanding second-quarter showing. Their profits hit 1.8 billion Philippine pesos, equivalent to roughly 32.5 million US dollars. This signifies an astounding 112% rise contrasted with the corresponding timeframe last year. This remarkable expansion was propelled by a surge in gambling income at their primary establishment, Solaire Resort & Casino.

Solaire’s gambling income escalated by 131% compared to the second quarter of 2021, reaching an aggregate of 13.1 billion Philippine pesos. This remarkable resurgence was largely credited to the relaxation of COVID-19 limitations throughout the quarter, which permitted a greater number of individuals to frequent and relish the casino. All gaming divisions, encompassing VIP, mass tables, and electronic gaming devices, witnessed substantial year-over-year expansion, driven by a surge in gaming activity.

Enrique K. Razon Jr., the Chairman and CEO of Bloomberry, conveyed his positivity regarding the company’s revival, indicating that the second-quarter outcomes are evidence of the ongoing resurgence of their enterprises in the Philippines. He maintains hope that this favorable momentum will persist in the approaching months.

The company has experienced a robust resurgence in earnings, nearing pre-crisis figures. This positive trend is primarily attributed to the local Philippine market. Both earnings before interest, taxes, depreciation, and amortization, along with net earnings, are demonstrating ongoing progress.

The outlook for continued expansion is bright as travel within the region gradually rebounds, contingent upon the absence of new, disruptive Covid-19 strains appearing in the near future. The commitment to maintaining the highest benchmarks of service and security at Solaire remains steadfast, reinforcing its dominant market position.”

Bloomberry also reported encouraging financial outcomes for the initial six months of 2022. Gross gaming income witnessed a 76% surge year-over-year, reaching PHP20 billion, while EBITDA climbed by 174% to PHP6.7 billion. The company posted a net profit of PHP2.5 billion, a substantial turnaround from the net loss of PHP1.9 billion during the corresponding period in 2021.

This performance stands in sharp contrast to entities like MGM China, which recently disclosed a 54% year-over-year decrease in revenue for the second quarter of 2022. MGM China ascribed this decline, from $311 million to $143 million, to the travel and entry limitations implemented by the Macau authorities in response to the Covid-19 pandemic.