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Bloomberry Resorts Corp, the Philippine casino operator, has released its financial results for the first quarter of 2019. The report shows that profits decreased by 40% year-on-year in the first quarter of the year.
Bloomberry said that profits were down because of “meaningfully lower foreign exchange gains and higher interest expenses”. Profits totalled €37.7 million, down from nearly €63.5 million.
Gross gaming revenue (GGR) was €233.5 million, which is a 1% decrease year-on-year. Gaming revenue, on the other hand, increased by 0.9% when compared to the previous year to €151.9 million.
“Our net revenues and EBITDA improved thanks to our highly-profitable mass gaming segments where our innovative customer experience and engagement programmes continue to reward us with a database of loyal patrons,” Enrique Razon, chairman and chief executive of Bloomberry Resort said.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Bloomberry Reports Profit Down for Q1 2019
