Bloomberry income plunges on high depreciation costs

Quick Summary:

Bloomberry Resorts Corp., the operator of Solaire casino, said its income in January to September fell 58 percent to P3.5 billion from the previous year’s P8.3 billion, mainly on high depreciation costs from the operations of its Quezon City facility.

Bloomberry recorded a net loss of P470.2 million during the third quarter, a reversal of the P1.9-billion net income last year.  The net loss was a result of significantly higher depreciation and amortization, and interest expense associated with Solaire North.

Meanwhile, mass table drop amounted to P10.5 billion, representing a decline of 24 percent from last year.

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Article Details

Author / Journalist: VG Cabuag

Category: BusinessStartups

Markets: Philippines

Topics: Solaire Year Last Quarter Compared Increase Gaming Percent Billion Third Mass

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 16:06:00 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 597 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23574667

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News Last Updated: 19 hours ago

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