Bloomberry incurs loss of ₧8.3B

BLOOMBERRY Resorts Corp., the operator of Solaire Resort and Casino, said it incurred a loss of P8.3 billion for 2020, a reversal of the previous year’s profit of P9.9 billion.

The outbreak of the Covid-19 pandemic shuttered the company’s operations for nearly a year. Its facilities remained closed to the public.

Net revenues fell 62 percent to P17.8 billion from the previous year’s P46.6 billion, as Solaire’s casino has been operating at a limited capacity since June 15 last year, as allowed by regulator Philippine Amusement and Gaming Corp.

PAGCOR suspended all gaming operations under its purview since

March 16 to align with the government’s community quarantine initiative.

Solaire’s operations involve only long-stay and select invited guests. It is currently not open to the public and maintains an invite-only policy.

“I am encouraged by our performance in the final quarter of 2020, particularly as we saw domestic mass gaming revenues increase by 75 percent compared to the previous quarter and EBITDA [earnings before interest, taxes, depreciation and amortization] hitting positive territory. Our recovery is well underway. We look forward to a more meaningful improvement in 2021 should we see further easing of domestic quarantine restrictions and the eventual resumption of travel and tourism across our key markets,” Enrique K. Razon Jr., the company’s chairman and CEO, said.

“Our pre-eminent priority as our recovery progresses remains to be the wellbeing of our guests and team members. This concern has manifested in the form of sanitation and safety investments at Solaire valued at over P400 million for the year, ensuring our position as the leader in excellence, safety and health security among our peers in the Philippines and the region.”

For the fourth quarter alone, the company’s net loss was at P2.5 billion as against a net income of P1.4 billion in the previous year. Net revenues fell 61 percent for the period to P4.2 billion.

Gross gaming revenues, meanwhile, was at P5.3 billion, a 63-percent drop from the previous P14.5 billion.

For the entire year, gaming revenues fell at the same rate at 62 percent to P22.6 billion, from P59.8 billion in 2019.

Revenues from VIP, mass table and electronic gaming machines declined by at least half from yearago figures.

“We stay true to our intrinsic obligation to help our countrymen as we assist the Philippine government in procuring Oxford-astrazeneca and Moderna Covid-19 vaccines. Outside of vaccines, the bloomberry Cultural Foundation Inc., has donated over P850 million worth of medical supplies, relief goods, and health infrastructure funding. We are eager to see a healthy post-pandemic world emerge through our continuing CSR efforts,” Razon said.

AYALA Healthcare Holdings, Inc. (AC Health) launched a vaccination drive for its doctors and healthcare workers at Qualimed Hospital Sta. Rosa, the first hospital outside of Metro Manila to receive doses of the Astrazeneca vaccines. A total of 600 Astrazeneca and Sinovac vaccines were provided by the Inter-agency Task Force and the Department of Health, in collaboration with the local government of Laguna. All 600 doses have been allocated to volunteer recipients.

The ceremonial vaccination led by Fernando Zobel de Ayala, President and COO of Ayala Corp., and Paolo Borromeo, President and CEO of AC Health, is a precursor to COVIDSHIELD – AC Health’s largescale Covid-19 vaccination initiative in support of the Philippine National Vaccine Deployment Program.

The Qualimed Health Network was represented by Dr. Edwin Mercado, Vice-chairman of Qualimed’s founding group Mercado General Hospital, Inc. (MGHI), and Jimmy Ysmael, President and CEO of the Qualimed Health Network. Also in attendance were Sec. Carlito Galvez, Jr., Chief Implementer of the National Taskforce Against COVID-19, Sec. Vince Dizon, Deputy Chief Implementer, Sta. Rosa Mayor Arlene Arcillas, Dr. Aleli Sudiacal, DOH Director III for Field Implementation and Coordination, and Dr. Noel Pasion, DOH Region IV Local Health Support Division Chief.

“The Ayala Group and AC Health have always been strong supporters of the National Vaccine Deployment Program. I am delighted to see all the efforts of the government and private sector come to fruition with the launching of the National Vaccine Program. Moreover, it has been encouraging to see other healthcare institutions support the IATF’S and DOH’S efforts. This gives me hope that in addition to providing muchneeded protection for individuals, the vaccines will eventually reduce the burden to our healthcare system, stem disease transmission, and accelerate the path to recovery for our country,” said Fernando Zobel de Ayala, President and COO of Ayala Corp.

“We are honored and privileged to have been included by the DOH and IATF as first recipients outside of Metro Manila for the Astrazeneca vaccines, as well as some doses of the Sinovac vaccines. Our healthcare workers are extremely grateful to be given this additional layer of protection, and we hope this will also encourage more Filipinos to be vaccinated too. For our part, we look forward to contributing to the country’s vaccination efforts as we gear up for large-scale administration. We have identified and are setting up nearly 20 mega-sites nationwide with a goal to administer 1,000,000 doses by 2021,” said Paolo Borromeo, President and CEO of AC Health.