July 28, 2014 7:17 PM ET

Hotels, Restaurants and Leisure

Company Overview of Bloomberry Resorts Corporation

Company Overview

Bloomberry Resorts Corporation, through its subsidiaries, develops hotels, casinos, and integrated tourism resorts in the Philippines. The company develops and operates tourist facilities, including casino-entertainment complexes with casino, hotel, retail and amusement areas, and themed development components. The company is based in Makati City, the Philippines. Bloomberry Resorts Corporation is a subsidiary of Prime Metroline Holdings, Inc.

Ecoplaza Building

Unit 601

6th Floor

Chino Roces Avenue Extension

Makati City,  2222

Philippines

3,994 Employees

Phone:

63 2 501 3898

Key Executives for Bloomberry Resorts Corporation

Bloomberry Resorts Corporation does not have any Key Executives recorded.

Bloomberry Resorts Corporation Key Developments

Bloomberry Resorts Corporation Amends Articles of Incorporation

Bloomberry Resorts Corporation amended Third Article of the Articles of Incorpoation from Unit 601 6th Floor Ecoplaza Bldg. Chino Roces Ave. Ext., Makati City to The Executive Offices, Solaire Resort & Casino, Asean Avenue, Entertainment City, Barangay Tambo, Parañaque City.

Bloomberry Resorts Corporation expected to report Q2 2014 results on July 28, 2014. This event was calculated by Capital IQ (Created on May 22, 2014).

Bloomberry Resorts Corporation expected to report Q2 2014 results on July 28, 2014. This event was calculated by Capital IQ (Created on May 22, 2014).

Bloomberry Resorts Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Bloomberry Resorts Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company ended with a net income after tax of PHP 1.461 billion a turnaround from a PHP 1.056 billion loss a year ago that was caused by pre-operating expenses on Solaire. The profitability that was achieved in the first quarter of 2014 was mainly due to the significant increase in VIP turnover and slot coin-in. The first quarter saw total gross revenues of PHP 7.381 billion, over 11 times the PHP 661 million generated in the same three months last year. Gross gaming revenues and non-gaming revenues ended last quarter with PHP 7.060 billion and PHP 286 million, respectively, reflecting 12- and fivefold annual growth. This significant improvement in Revenue was due to the group's ability to successfully manage and operate Solaire without a third- party management company. The company's total revenue was PHP 5,988,927,933 compared to 578,286,007 a year ago. Income before tax was PHP 1,458,894,837 compared to loss before tax of PHP 1,247,274,376 a year ago. Earnings per share on net income attributable to equity holders of the company was PHP 0.138 compared to loss of 0.10 a year ago. Net cash provided by operating activities was PHP 2,696,875,945 compared to PHP 2,687,063,913 a year ago. Additions to property and equipment was PHP 39,332,144 compared to PHP 1,376,383,580 a year ago. Additions to project development costs was PHP 4,543,713,717 compared to PHP 8,335,419,089 a year ago. EBITDA for the first quarter of 2014 amounted to PHP 154 Billion, almost equal to the full year EBITDA of 2013 totaling PHP 2.166 Billion (before deducting pre-operating expenses amounting to P1.048 Billion). This represents a further growth acceleration of Solaire's operations attributable to significant increases in VIP turnover and slot coin-in, enhanced operating efficiencies and effective cost management. Return on Equity was 8.35% compared to negative return on equity of 6.53% a year ago. Net cash provided by operating activities was PHP 2,696,875,945 compared to PHP 2,687,063,913 a year ago. Additions to project development costs was PHP 4,543,713,717 compared to PHP 8,335,419,089 a year ago. Additions to property and equipment were PHP 339,332,144 compared to PHP 1,376,383,580 a year ago.

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