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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 2021 PHPUSD
Revenue21,971.17M445.71M
Gross Profit13,590.52M275.69M
Operating income1,676.30M34.00M
Income before tax-4,240.30M-86.01M
Net income-4,219.64M-85.60M
EBITDA5,169.97M104.87M
Diluted EPS-0.38-0.00
Dividends Per Share00
Total Assets115,479.74M2,264.64M
Total liabilities87,555.93M1,717.03M
Total equity28,006.82M549.23M
Operating cash flow-176.86M-3.58M
Currency in PHPCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 36,650.51M 38,220.22M 46,337.32M 17,658.40M 21,971.17M
Gross Profit 27,556.81M 27,644.09M 34,766.04M 8,808.72M 13,590.52M
Operating income 7,927.52M 11,124.03M 15,849.69M -2,048.71M 1,676.30M
Income before tax 6,295.25M 7,039.34M 10,207.13M -8,419.23M -4,240.30M
Net income 6,070.71M 7,188.23M 9,955.05M -8,312.86M -4,219.64M
EBITDA 12,281.37M 14,753.47M 19,539.50M 1,299.74M 5,169.97M
Diluted EPS 0.54 0.65 0.90 -0.75 -0.38
Dividends Per Share 0 0 0 0 0
Total Assets 73,243.39M 126,072.27M 132,935.60M 113,706.77M 115,479.74M
Total liabilities 42,958.04M 89,511.16M 88,904.88M 80,812.76M 87,555.93M
Total equity 30,256.43M 36,552.12M 44,069.04M 32,946.81M 28,006.82M
Operating cash flow 11,371.23M 18,922.72M 15,250.42M -9,166.89M -176.86M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 726.98M 725.47M 894.88M 356.01M 445.71M
Gross Profit 546.60M 524.72M 671.41M 177.59M 275.69M
Operating income 157.24M 211.15M 306.09M -41.30M 34.00M
Income before tax 124.86M 133.61M 197.12M -169.74M -86.01M
Net income 120.41M 136.44M 192.25M -167.59M -85.60M
EBITDA 243.60M 280.04M 377.35M 26.20M 104.87M
Diluted EPS 0.01 0.01 0.01 -0.01 -0.00
Dividends Per Share 0 0 0 0 0
Total Assets 1,467.21M 2,397.49M 2,624.85M 2,367.73M 2,264.64M
Total liabilities 860.53M 1,702.21M 1,755.45M 1,682.77M 1,717.03M
Total equity 606.09M 695.10M 870.15M 686.05M 549.23M
Operating cash flow 225.55M 359.18M 294.52M -184.81M -3.58M

Valuation Measures

Dec 2021
PER--
ROA-3.68%
ROE-13.84%
Operating margin7.62%
Profit margin-19.20%

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 (65.4%)
  • Norges Bank Investment Management (0.9%)
  • The Vanguard Group, Inc. (0.9%)
  • Van Eck Associates Corp. (0.9%)
  • Capital Research & Management Co. (International Investors) (0.7%)
  • BlackRock Fund Advisors (0.6%)
  • Chiron Investment Management LLC (0.5%)
  • Capital International, Inc. (0.4%)
  • Dimensional Fund Advisors LP (0.3%)
  • ARASI THOMAS (0.1%)

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
  • Grand Korea Leisure Co., Ltd.
  • Studio City International Holdings Ltd. Sponsored ADR Class A
  • Melco Resorts & Entertainment Ltd. Sponsored ADR
  • Premium Leisure Corp.
Last Updated on 4 Oct, 2022

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