Bloomberry Resorts returns to profit in Q1

    Bloomberry Resorts said it returned to a profit in the first quarter as gaming revenue at its Solaire Resorts & Casino jumped 12 fold. Gross revenue surged to PHP7.38 billion ($165.4 million) pesos from PHP661 million the prior year, while profit was PHP1.46 billion from a loss of PHP1.05 a year ago. Gaming revenue hit PHP7.06 billion making up 95.7 percent of the total. “It’s significant we were able to return to profit after only one year of operation,” chairman and CEO Enrique Razon said in a release. “This is proof that the group, without a third-party management company, has the ability and acumen to manage an integrated resort.” Solaire opened in March last year after sacking a U.S. management group.