Bloomberry earns P3.5 B in 9 months

Earnings of Bloomberry Resorts Corp. of tycoon Enrique Razon Jr. fell by more than half in the nine months ending September after incurring a net loss in the third quarter.

- RICHMOND MERCURIO

Bloomberry saw its net income plunge by 58 percent to P3.5 billion during the first three quarters from P8.3 billion in the same period last year.

Excluding the impact of gains from the disposal of an asset and the liquidation of a subsidiary, net income would have dropped by 56 percent year-on-year.

Bloomberry, owner and operator of the Solaire Resort Entertainment City, Solaire Resort North and Jeju Sun Hotel & Casino, recorded a net loss of P470.2 million during the third quarter, a turnaround from the net income of P1.9 billion in the same period in 2023.