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 2022	PHP	USD
Revenue	38,807.79M	711.79M
Gross Profit	28,479.08M	522.34M
Operating income	10,683.88M	195.95M
Income before tax	5,141.02M	94.29M
Net income	5,171.88M	94.86M
EBITDA	14,194.32M	260.34M
Diluted EPS	0.47	0.00
Dividends Per Share	0	0
Total Assets	141,159.06M	2,533.02M
Total liabilities	108,003.96M	1,938.07M
Total equity	33,268.69M	596.98M
Operating cash flow	13,079.35M	239.89M
	Currency in PHP	Currency in USD

Historical Data

PHP | USD

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	38,220.22M	46,337.32M	17,658.40M	21,971.17M	38,807.79M
Gross Profit	27,644.09M	34,766.04M	8,808.72M	13,590.52M	28,479.08M
Operating income	11,124.03M	15,849.69M	-2,048.71M	1,676.30M	10,683.88M
Income before tax	7,039.34M	10,207.13M	-8,419.23M	-4,240.30M	5,141.02M
Net income	7,188.23M	9,955.05M	-8,312.86M	-4,219.64M	5,171.88M
EBITDA	14,753.47M	19,539.50M	1,299.74M	5,169.97M	14,194.32M
Diluted EPS	0.65	0.90	-0.75	-0.38	0.47
Dividends Per Share	0	0	0	0	0
Total Assets	126,072.27M	132,935.60M	113,706.77M	115,479.74M	141,159.06M
Total liabilities	89,511.16M	88,904.88M	80,812.76M	87,555.93M	108,003.96M
Total equity	36,552.12M	44,069.04M	32,946.81M	28,006.82M	33,268.69M
Operating cash flow	18,922.72M	15,250.42M	-9,166.89M	-176.86M	13,079.35M

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	725.47M	894.88M	356.01M	445.71M	711.79M
Gross Profit	524.72M	671.41M	177.59M	275.69M	522.34M
Operating income	211.15M	306.09M	-41.30M	34.00M	195.95M
Income before tax	133.61M	197.12M	-169.74M	-86.01M	94.29M
Net income	136.44M	192.25M	-167.59M	-85.60M	94.86M
EBITDA	280.04M	377.35M	26.20M	104.87M	260.34M
Diluted EPS	0.01	0.01	-0.01	-0.00	0.00
Dividends Per Share	0	0	0	0	0
Total Assets	2,397.49M	2,624.85M	2,367.73M	2,264.64M	2,533.02M
Total liabilities	1,702.21M	1,755.45M	1,682.77M	1,717.03M	1,938.07M
Total equity	695.10M	870.15M	686.05M	549.23M	596.98M
Operating cash flow	359.18M	294.52M	-184.81M	-3.58M	239.89M

Valuation Measures

Dec 2022
PER	16.06
ROA	4.03%
ROE	16.88%
Operating margin	27.53%
Profit margin	13.32%

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 (65.7%)
Norges Bank Investment Management (0.9%)
The Vanguard Group, Inc. (0.8%)
Van Eck Associates Corp. (0.8%)
Capital Research & Management Co. (International Investors) (0.7%)
BlackRock Fund Advisors (0.6%)
Capital International, Inc. (0.4%)
Chiron Investment Management LLC (0.4%)
Dimensional Fund Advisors LP (0.3%)
Calamos Advisors LLC (0.2%)

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

Bloom Capital BV
Solaire Resort & Casino
Solaire Korea Co. Ltd.
Sureste Properties, Inc.

Competitors

Alliance Global Group Inc.
Universal Entertainment Corporation
Genting Hong Kong Limited
Studio City International Holdings Ltd. Sponsored ADR Class A
Melco Resorts & Entertainment Ltd. Sponsored ADR
Premium Leisure Corp.

Last Updated on 27 Mar, 2023