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Consumer Services

Bloomberry Resorts Corp.

Company Background

Bloomberry Resorts is a holding company that oversees property and leisure assets. The group runs the Solaire Resort & Casino, the first integrated gaming resort in Entertainment City, a development zone by Manila Bay. The area is envisioned as the Philippines' answer to Las Vegas and Macau. Phase 1 of Solaire opened in March 2013. The casino features around 1,400 slot machines, 295 gaming tables and 88 electronic table games on approximately 18,500 sq. meters of floor space. The site is also home to 488 hotel rooms, 15 restaurants, a grand ballroom that can seat around 1,000, a spa and fitness center, a bayside promenade and a multilevel parking lot.

Other Entertainment City casino license holders, which are expected to compete with Solaire are Travellers International Hotel Group of Malaysia's Genting Group and Filipino tycoon Andrew Tan, Macau's Melco Crown (with Sy Group as partner) and Universal Entertainment unit Tiger Resort.

Bloomberry is led by Filipino-Spanish businessman Enrique Razon, the chairman of International Container Terminal Services. The casino is managed by Thomas Arasi, who used to run the Marina Bay Sands in Singapore.

Business Summary

Bloomberry Resorts Corp. operates as a holding company. The firm engages in developing tourist facilities, casino entertainment, and hotel and amusement-themed projects. It operates through the following geographical segments: Philippines and Korea. The company was founded on May 3, 1999 and is headquartered in Paranaque, Philippines.

Financial Highlights

Dec 2020 PHPUSD
Revenue17,658.40M356.01M
Gross Profit8,808.72M177.59M
Operating income-2,048.71M-41.30M
Income before tax-8,419.23M-169.74M
Net income-8,312.86M-167.59M
EBITDA1,299.74M26.20M
Diluted EPS-0.75-0.01
Dividends Per Share00
Total Assets113,706.77M2,367.73M
Total liabilities80,812.76M1,682.77M
Total equity32,946.81M686.05M
Operating cash flow-9,166.89M-184.81M
Currency in PHPCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 30,386.54M 36,650.51M 38,220.22M 46,337.32M 17,658.40M
Gross Profit 21,114.55M 27,556.81M 27,644.09M 34,766.04M 8,808.72M
Operating income 5,699.44M 7,927.52M 11,124.03M 15,849.69M -2,048.71M
Income before tax 3,982.14M 6,295.25M 7,039.34M 10,207.13M -8,419.23M
Net income 2,357.14M 6,070.71M 7,188.23M 9,955.05M -8,312.86M
EBITDA 10,554.48M 12,281.37M 14,753.47M 19,539.50M 1,299.74M
Diluted EPS 0.21 0.54 0.65 0.90 -0.75
Dividends Per Share 0 0 0 0 0
Total Assets 68,098.15M 73,243.39M 126,072.27M 132,935.60M 113,706.77M
Total liabilities 43,953.67M 42,958.04M 89,511.16M 88,904.88M 80,812.76M
Total equity 24,107.02M 30,256.43M 36,552.12M 44,069.04M 32,946.81M
Operating cash flow 4,243.91M 11,371.23M 18,922.72M 15,250.42M -9,166.89M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 639.88M 726.98M 725.47M 894.88M 356.01M
Gross Profit 444.63M 546.60M 524.72M 671.41M 177.59M
Operating income 120.01M 157.24M 211.15M 306.09M -41.30M
Income before tax 83.85M 124.86M 133.61M 197.12M -169.74M
Net income 49.63M 120.41M 136.44M 192.25M -167.59M
EBITDA 222.25M 243.60M 280.04M 377.35M 26.20M
Diluted EPS 0.00 0.01 0.01 0.01 -0.01
Dividends Per Share 0 0 0 0 0
Total Assets 1,369.83M 1,467.21M 2,397.49M 2,624.85M 2,367.73M
Total liabilities 884.15M 860.53M 1,702.21M 1,755.45M 1,682.77M
Total equity 484.92M 606.09M 695.10M 870.15M 686.05M
Operating cash flow 89.36M 225.55M 359.18M 294.52M -184.81M

Valuation Measures

Dec 2020
PER--
ROA-6.74%
ROE-21.58%
Operating margin-11.60%
Profit margin-47.07%

Key executives

  • Chairman & Chief Executive Officer: Enrique Klar Razon
  • President, Chief Operating Officer & Director: Thomas Arasi
  • Chief Financial Officer, Treasurer & Executive VP: Estella Tuason-Occeña
  • Vice President-Information Technology: Kel Telford
  • Secretary & Compliance Officer: Silverio Benny J. Tan

Shareholders

  • RAZON ENRIQUE KLAR JR (65.5%)
  • Norges Bank Investment Management (2.0%)
  • Van Eck Associates Corp. (1.3%)
  • The Vanguard Group, Inc. (0.8%)
  • Capital Research & Management Co. (International Investors) (0.6%)
  • BlackRock Fund Advisors (0.6%)
  • Dimensional Fund Advisors LP (0.4%)
  • Capital International, Inc. (0.4%)
  • BlackRock Investment Management (UK) Ltd. (0.4%)
  • Capital Research & Management Co. (World Investors) (0.3%)

Contact Details

  • Website:http://www.bloomberry.ph
  • Address: Solaire Resort & Casino, Asean Avenue Entertainment City, Paranaque, 1701, Philippines
  • Phone: +63.2.883.8921

Related Companies

  • Solaire Resort & Casino
  • Solaire Korea Co. Ltd.

Competitors

  • Alliance Global Group Inc.
  • Universal Entertainment Corporation
  • Genting Hong Kong Limited
  • Premium Leisure Corp.
  • Melco Resorts & Entertainment Limited Sponsored ADR
  • Paradise Co., Ltd
  • Studio City International Holdings Ltd. Sponsored ADR Class A
Last Updated on 3 Dec, 2021

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