BLOOMBERRY Resorts Corp., whose subsidiaries own and operate Solaire Resort & Casino and Jeju Sun Hotel & Casino (Jeju Sun), reported audited consolidated financial results for the year ended Dec. 31, 2022.

Enrique Razon Jr., Bloomberry chairman and CEO, said, '2022 was a positive year of recovery for Bloomberry as Solaire benefited from a strong rebound in local demand across all business segments. Our gaming revenues hit 84 percent of pre-pandemic levels, propelled by the domestic-focused mass table games and EGM segments where revenues have already reached 100 percent of 2019 pre-pandemic levels. Last year we firmly returned to profitability as net income reached P5.1 billion, a turnaround from losses recorded in the year prior.'

'While we celebrate our success in 2022, we keep our eyes on the future as we ramp-up construction activity at Solaire Resort North in Quezon City. We are excited to launch this new offering by the first quarter of 2024.'

'These developments are encouraging as we mark Solaire's 10th year of operations this March. We look forward to delivering even better results in 2023 and to reaching more milestones in the years to come.'

Bloomberry returns to profitability in 2022, posts P5.1 billion net income. Mass tables and slots revenue at 100 percent of pre-pandemic level.

Total Gross Gaming Revenue (GGR) at Solaire was P50.1 billion, 81 percent higher than the P27.6 billion recorded in 2021. Total GGR has recovered to 84 percent of the 2019 level, propelled mainly by the largely domestic mass tables and Electronic Gaming Machines (EGM) segments.

Solaire's VIP, mass table and EGM GGR were P16.5 billion, P16.8 billion and P16.9 billion, representing year-over-year growth of 144 percent, 48 percent, and 77 percent, respectively. All segments benefited from strong domestic demand which was supplemented by improved international visitation in the second half of the year. The mass table games and EGM segments have each reached 100 percent of pre-pandemic levels.

Consolidated net revenue was P38.9 billion, representing an increase of 77 percent from P22.0 billion in the previous year. Consolidated Ebitda reached P14.3 billion, higher by 175 percent compared to P5.2 billion in 2021. Consolidated net income was P5.1 billion, a reversal from net loss of P4.2 billion in 2021.

Total GGR at Solaire was P14.7 billion, higher by 84 percent year on year. VIP, mass tables and EGM GGR were P4.7 billion, P4.4 billion and P5.6 billion, representing year-over-year improvements of 184 percent, 37 percent and 81 percent, respectively. Consolidated net revenue was P11.6 billion, representing an increase of 75 percent year over year.

Consolidated ebitda was P3.9 billion, representing growth of 113 percent from P1.9 billion in the same period last year. Consolidated net income was P1.1 billion, a turnaround from net loss of P1.3 billion in the in the same quarter in 2021.