Earnings of casino operator Bloomberry Resorts Corp. declined 11 percent in the first quarter of 2024 on lower revenues and pre-operating expenses related to the opening of its second hotel-casino property in Quezon City.
Excluding the impact of P279.5 million in pre-operating expenses associated with Solaire Resort North, net income would have been P2.9 billion, declining 3 percent year-on-year. Total gross gaming revenues of Solaire Resort & Casino dropped 8 percent to P14.8 billion, representing an 8-percent decline from P16 billion in the first quarter of 2023.GGR was negatively impacted by lower VIP rolling chip and mass table drop volumes, which was partly offset by strong growth in gaming revenues from electronic gaming machines .
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