Profits Of Razon's Gaming Business Surge 160%

Bloomberry Resorts Corp., the gaming business of billionaire Enrique Razon Jr., reported a 160 percent surge in consolidated net income to P6.4 billion in the first half of 2023 from the P2.5 billion earned in the same period last year.

Photo Insert: Jeju Sun Hotel and Casino is a key Bloomberry asset in South Korea.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said it almost doubled its consolidated net income to P3.4 billion for the second quarter, 92% higher than the P1.8 billion reported in the same period last year.

After removing the impact of a P356.6 million one-time gain on sale from the disposition of an asset at Solaire Korea, consolidated net income for the quarter would have increased by 72 % year-over-year, while first half income would have increased by 145%.

“During the quarter, all our business segments continued to deliver growth that pushed consolidated net revenues, EBITDA, and net profit in the first half to levels exceeding that of the same period in 2019,” said Bloomberry chairman and CEO, Enrique K. Razon Jr.

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