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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 2019 PHPUSD
Revenue46,337.32M894.88M
Gross Profit34,766.04M671.41M
Operating income15,849.69M306.09M
Income before tax10,207.13M197.12M
Net income9,955.05M192.25M
EBITDA19,539.50M377.35M
Diluted EPS0.900.01
Dividends Per Share00
Total Assets132,935.60M2,624.85M
Total liabilities88,904.88M1,755.45M
Total equity44,069.04M870.15M
Operating cash flow15,250.42M294.52M
Currency in PHPCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 25,039.91M 30,386.54M 36,650.51M 38,220.22M 46,337.32M
Gross Profit 15,654.56M 21,114.55M 27,556.81M 27,644.09M 34,766.04M
Operating income 248.58M 5,699.44M 7,927.52M 11,124.03M 15,849.69M
Income before tax -1,543.03M 3,982.14M 6,295.25M 7,039.34M 10,207.13M
Net income -3,363.51M 2,357.14M 6,070.71M 7,188.23M 9,955.05M
EBITDA 5,104.98M 10,554.48M 12,281.37M 14,753.47M 19,539.50M
Diluted EPS -0.30 0.21 0.54 0.65 0.90
Dividends Per Share 0 0 0 0 0
Total Assets 71,256.16M 68,098.15M 73,243.39M 126,072.27M 132,935.60M
Total liabilities 49,459.24M 43,953.67M 42,958.04M 89,511.16M 88,904.88M
Total equity 21,726.52M 24,107.02M 30,256.43M 36,552.12M 44,069.04M
Operating cash flow 4,734.48M 4,243.91M 11,371.23M 18,922.72M 15,250.42M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 549.92M 639.88M 726.98M 725.47M 894.88M
Gross Profit 343.80M 444.63M 546.60M 524.72M 671.41M
Operating income 5.45M 120.01M 157.24M 211.15M 306.09M
Income before tax -33.88M 83.85M 124.86M 133.61M 197.12M
Net income -73.86M 49.63M 120.41M 136.44M 192.25M
EBITDA 112.11M 222.25M 243.60M 280.04M 377.35M
Diluted EPS -0.00 0.00 0.01 0.01 0.01
Dividends Per Share 0 0 0 0 0
Total Assets 1,514.31M 1,369.83M 1,467.21M 2,397.49M 2,624.85M
Total liabilities 1,051.09M 884.15M 860.53M 1,702.21M 1,755.45M
Total equity 461.72M 484.92M 606.09M 695.10M 870.15M
Operating cash flow 103.97M 89.36M 225.55M 359.18M 294.52M

Valuation Measures

Dec 2019
PER12.50
ROA7.68%
ROE24.69%
Operating margin34.20%
Profit margin21.48%

Key executives

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

Shareholders

  • RAZON ENRIQUE KLAR JR (64.9%)
  • Van Eck Associates Corp. (1.7%)
  • Government Service Insurance System (1.5%)
  • The Vanguard Group, Inc. (1.0%)
  • Macquarie Funds Management Hong Kong Ltd. (0.8%)
  • Capital International, Inc. (0.7%)
  • Norges Bank Investment Management (0.6%)
  • Capital Research & Management Co. (International Investors) (0.6%)
  • Dimensional Fund Advisors LP (0.5%)
  • BlackRock Fund Advisors (0.5%)

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.
  • Studio City International Holdings Ltd. Sponsored ADR Class A
  • Melco Resorts and Entertainment Ltd Shs Sponsored American Deposit Receipt Repr 3 Shs
  • Paradise Co., Ltd
  • PH Resorts Group Holdings, Inc.
Last Updated on 10 Aug, 2020

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