Bloomberry Resorts Corp.
In the news
- Casino losses mount as virus hits Asia's entertainment palaces May 26, 2020
- Asian equities fall amid weaker China data, Hong Kong agitation Nov 14, 2019
- Nikkei Asia 300 Index gains as trade war fears ebb Apr 5, 2018
- Philippines sees gross gaming revenue rising 9.4% to $3.57bn in 2018 Mar 20, 2018
- So who were the winners after tumultuous week? Feb 9, 2018 See more articles on 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
Financial Highlights
| Dec 2020 | PHP | USD |
| Revenue | 17,658.40M | 356.01M |
| Gross Profit | 8,808.72M | 177.59M |
| Operating income | -2,048.71M | -41.30M |
| Income before tax | -8,419.23M | -169.74M |
| Net income | -8,312.86M | -167.59M |
| EBITDA | 1,299.74M | 26.20M |
| Diluted EPS | -0.75 | -0.01 |
| Dividends Per Share | 0 | 0 |
| Total Assets | 113,706.77M | 2,367.73M |
| Total liabilities | 80,812.76M | 1,682.77M |
| Total equity | 32,946.81M | 686.05M |
| Operating cash flow | -9,166.89M | -184.81M |
| Currency in PHP | Currency in USD |
Historical Data
| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 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 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 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
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