Bloomberry Resorts Corporation · PSE:BLOOM
Bloomberry Resorts — FY2024 Earnings Presentation
33 slides from Bloomberry Resorts's earnings presentation
Slide 1: Selected Audited Fourth Quarter / Full Year 2024 Financial and Operating Data
PSE: BLOOM Selected Audited Fourth Quarter / Full Year 2024 Financial and Operating Data
Slide 2: Confidentiality Notice and Disclaimer
CONFIDENTIALITY NOTICE AND DISCLAIMER This document does not constitute or form part of and should not be construed as an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any jurisdiction or as an inducemen
Slide 3: 4Q2024 Financial and Operating Data - Consolidated
4Q2024 Financial and Operating Data Consolidated 3
Slide 4: Consolidated Income Statement (Php million) - 4Q2024
Audited Consolidated Income Statement (Php million) - 4Q2024 For the Three Months Ended 30 December 2024 2023 Conso Jeju Corporate and Jeju Corporate and Change in % SEC1 SN2 non-operating Consolidated SEC1 SN2 non-operating Consolidated Sun Subsidiaries3 Sun Subsidiaries3 Gross gaming revenues 12,5
Slide 5: 4Q2024 Revenues - Consolidated
Audited 4Q2024 Revenues - Consolidated Consolidated Net Revenues Consolidated Net Revenues Breakdown (Includes Interest Income) +22% YoY (Includes Interest Income) Consolidated Net Revenues +6% QoQ increased by 6% and 22% on a 11% 14,553 sequential and YoY basis, 13,758 54 11% 90 1,548 respectively
Slide 6: 4Q2024 Gaming Revenues – SEC + SN
Audited 4Q2024 Gaming Revenues – SEC + SN Change in % GGR Breakdown In PHP millions 4Q24 vs 3Q24 vs 4Q23 4Q24 24% 36% 40% VIP 3Q24 22% 38% 40% Rolling chip 105,598 -6% -19% 4Q23 32% 30% 39% Hold Rate 3.68% +0.5ppt +0.3ppt +17% YoY -1% QoQ VIP GGR 3,887 +8% -11% 16,269 16,189 Mass Mass Drop 15,396 -9
Slide 7: 4Q2024 Consolidated Expenses
Audited 4Q2024 Consolidated Expenses Cash Operating Expenses Provisions for Doubtful Accounts Consolidated Cash Operating Expenses increased by 9% and +33% YoY 33% on a sequential and YoY +9% QoQ basis, respectively, due to 10,566 operating expenses recognized 9,701 in relation to SN There were no p
Slide 8: 4Q2024 Consolidated EBITDA and Profit(Loss)
Audited 4Q2024 Consolidated EBITDA and Profit(Loss) Consolidated EBITDA Consolidated Net Profit Consolidated EBITDA was P3.9 billion, representing a decrease of 4% sequentially, and increase of 1% +1% YoY YoY. Consolidated EBITDA margin -4% QoQ was 27% compared to 30% and 33% 4,056 in 3Q24 and 4Q24,
Slide 9: 4Q2024 Financial and Operating Data - Solaire Resort Entertainment City (SEC)
4Q2024 Financial and Operating Data Solaire Resort Entertainment City (SEC) 9
Slide 10: 4Q2024 Revenues – SEC
Audited 4Q2024 Revenues – SEC Net Revenues Net Revenues Breakdown (Includes Interest Income) (Includes Interest Income) Net Revenues increased by 7% 11% -7% YoY sequentially, and declined by 10% 11,763 +7% QoQ 7% YoY 125 10,908 906 10,239 79% Net Gaming Revenues 38 1,126 73 1,161 992 accounted for 7
Slide 11: 4Q2024 Gaming Revenues – SEC
Audited 4Q2024 Gaming Revenues – SEC GGR Breakdown Change in % 4Q24 29% 34% 37% In PHP millions 4Q24 vs 3Q24 vs 4Q23 3Q24 29% 36% 35% VIP Rolling chip 101,469 -8% -22% 4Q23 32% 30% 39% Hold Rate 3.56% +0.3ppt +0.2ppt -9% YoY VIP GGR 3,615 -0.1% -17% flat QoQ Mass 13,837 12,590 12,588 Mass Drop 9,164
Slide 12: 4Q2024 Expenses – SEC
Audited 4Q2024 Expenses – SEC Cash Operating Expenses Provisions for Doubtful Accounts SEC Cash Operating Expenses were up by 6% and 1% on a sequentially YoY basis, respectively +1% YoY +6% QoQ There were nil provisions for 6,953 7,024 doubtful accounts in both 6,648 4Q24 and 3Q24, compared to P30 m
Slide 13: 4Q2024 EBITDA and Profit – SEC
Audited 4Q2024 EBITDA and Profit – SEC EBITDA Net Profit EBITDA was P3.9 billion, representing an increase of 8% sequentially and a decrease of 19% YoY EBITDA margin was 36% 4,780 -19% YoY compared to 35% and 41% +8% QoQ 3,884 in 3Q24 and 4Q23, 3,591 respectively Php millions Net Profit was P852.5 m
Slide 14: 4Q2024 Non-Gaming Performance – SEC
Audited 4Q2024 Non-Gaming Performance – SEC Non-gaming Revenues Hotel Occupancy Rate (Includes Interest Income) 80.3% Non-gaming 65.5% 67.6% +4% YoY revenues increased +16% QoQ by 4% and 16% on a 2,157 2,238 38 sequential and YoY 125 1,936 4Q2023 3Q2024 4Q2024 73 Hotel Cash Revenues basis, respectiv
Slide 15: 4Q2024 Financial and Operating Data - Solaire Resort North (SN)
4Q2024 Financial and Operating Data Solaire Resort North (SN) 15
Slide 16: 4Q2024 Non-Gaming Performance – SN
Audited 4Q2024 Non-Gaming Performance – SN Gross Gaming Revenues Non-gaming Revenues Hotel Occupancy Rate (Includes Interest Income) Change in % In PHP millions 4Q24 vs 3Q24 59.8% 56.4% VIP Rolling chip 4,129 +86% - Hold Rate 6.59% +7.4ppt 3Q2023 3Q2024 4Q2024 VIP GGR 272 n.m. Hotel Cash Revenues Ma
Slide 17: 4Q2024 EBITDA and Profit (Loss) – SN
Audited 4Q2024 EBITDA and Profit (Loss) – SN EBITDA Cash Operating Expenses Net Profit +15% QoQ 3,161 2,744 Php millions Php millions Php millions 660 -47% QoQ -35.1% 350 -43.8% (1,194) (1,537) 19.4% - 9.9% 4Q2023 3Q2024 4Q2024 4Q2023 3Q2024 4Q2024 3Q2024 3Q2024 4Q2024 EBITDA EBITDA Margin Net Profi
Slide 18: FY2024 Financial and Operating Data - Consolidated
FY2024 Financial and Operating Data Consolidated 18
Slide 19: Consolidated Income Statement (Php million) - FY2024
Audited Consolidated Income Statement (Php million) - FY2024 For the Year Ended 31 December 2024 2023 Conso Jeju Corporate and Jeju Corporate and Change in % SEC1 SN2 non-operating Consolidated SEC1 SN2 non-operating Consolidated Sun Subsidiaries3 Sun Subsidiaries3 Gross gaming revenues 53,230 8,416
Slide 20: FY2024 Consolidated Revenues
Audited FY2024 Consolidated Revenues Consolidated Net Revenues Consolidated Net Revenues Breakdown (Includes Interest Income) (Includes Interest Income) 9% Consolidated Net Revenues 10% increased by 10% YoY +10% YoY 53,076 Net Gaming Revenues 48,388 316 4,897 80% accounted for 80% of 493 3,746 5,449
Slide 21: FY2024 Gaming Revenues – SEC+SN
Audited FY2024 Gaming Revenues – SEC+SN Change in % GGR Breakdown In PHP millions 2024 vs 2023 2024 25% 35% 40% VIP Rolling chip 442,402 -28% 2023 33% 31% 34% Hold Rate 3.50% +0.3ppt +6% YoY VIP GGR 15,494 -21% 61,646 Mass 58,294 Mass Drop 55,903 +9% Hold Rate 38.1% +2.6ppt 20,648 24,854 Mass GGR 21
Slide 22: FY2024 Expenses - Consolidated
Audited FY2024 Expenses - Consolidated Cash Operating Expenses Provisions for Doubtful Accounts Consolidated Cash Operating Expenses were higher by 26% YoY. Consolidated Cash +26% YoY operating expenses increased 36,473 due to the recognition of pre-operating and operating 29,032 expenses associated
Slide 23: FY2024 EBITDA and Profits - Consolidated
Audited FY2024 EBITDA and Profits - Consolidated Consolidated EBITDA Consolidated Net Profit Consolidated EBITDA was P16.6 billion, representing a decrease of 14% YoY. Consolidated EBITDA margin was 31% compared to 40% in 19,325 the same period in 2023 -14% YoY 16,603 9,521 Hold-normalized Consolida
Slide 24: FY2024 Financial and Operating Data - Solaire Resort Entertainment City (SEC)
FY2024 Financial and Operating Data Solaire Resort Entertainment City (SEC) 24
Slide 25: FY2024 Revenues - SEC
Audited FY2024 Revenues - SEC Net Revenues Net Revenues Breakdown (Includes Interest Income) (Includes Interest Income) 9% Net Revenues declined by -7% YoY 9% 7% YoY 47,972 459 44,522 3,689 257 Net Gaming Revenues 4,114 4,156 81% accounted for 81% of 3,930 Consolidated Net Revenues Gaming Hotel, foo
Slide 26: FY2024 Gaming Revenues - SEC
Audited FY2024 Gaming Revenues - SEC Change in % GGR Breakdown In PHP millions 2024 vs 2023 2024 29% 33% 38% VIP Rolling chip 436,051 -29% 2023 33% 31% 35% Hold Rate 3.50% +0.3ppt VIP GGR 15,241 -22% Mass 58,294 -9% YoY Mass Drop 41,058 -20% 53,230 Hold Rate 42.9% +7.4ppts 20,648 20,361 Mass GGR 17,
Slide 27: FY2024 Non-Gaming Performance - SEC
Audited FY2024 Non-Gaming Performance - SEC Non-gaming Revenues Hotel Occupancy Rate (Includes Interest Income) 80.1% 71.3% Non-gaming revenues were flat YoY unchanged YoY 8,304 8,302 459 257 2023 2024 Hotel Occupancy Hotel Cash Revenues Rate was 71% 38.3% 38.9% 3,689 4,114 Hotel Cash Revenues Php m
Slide 28: FY2024 Expenses - SEC
Audited FY2024 Expenses - SEC Cash Operating Expenses Provisions for Doubtful Accounts Cash Operating Expenses increased by 1% YoY. +1% YoY There were nil provisions for 27,085 27,299 doubtful accounts in 2024 compared to P30 million in 2023 Php millions Php millions 30 - 2023 2024 2023 2024 28
Slide 29: FY2024 EBITDA and Profits - SEC
Audited FY2024 EBITDA and Profits - SEC EBITDA Net Profit EBITDA was P17.2 billion, representing a decrease of 17% YoY. 20,857 10,872 EBITDA margin was 39% -17% YoY 17,223 compared to 44% in the -29% YoY same period last year 7,687 Php millions Net income was P7.7 Php millions 43.6% billion, lower b
Slide 30: FY2024 Financial and Operating Data - Solaire Resort North (SN)
FY2024 Financial and Operating Data Solaire Resort North (SN) 30
Slide 31: FY2024 Gaming & Non-Gaming Performance – SN
Audited FY2024 Gaming & Non-Gaming Performance – SN Gross Gaming Revenues Non-gaming Revenues Hotel Occupancy Rate (Includes Interest Income) Change in % 55.9% In PHP millions 2024 vs 2023 VIP Rolling chip 6,351 - 2023 2024 Hold Rate 3.99% - 1,864 22 Hotel Cash Revenues VIP GGR 253 - 39.3% Mass Php
Slide 32: FY2024 EBITDA and Profit (Loss) – SN
Audited FY2024 EBITDA and Profit (Loss) – SN EBITDA Cash Operating Expenses Net Profit 6,756 Php millions Php millions Php millions - 1,260 n.m. - 15.7% - (3,160) 2023 2024 2023 2024 2023 2024 Net Profit Net Profit Margin EBITDA EBITDA Margin 32
Slide 33: Consolidated Balance Sheet
Consolidated Balance Sheet YTD change in Cash and cash Php million 31 December 31 December equivalents as of % 2024 2023 31 December 2024 was Current assets 38,276 43,825 -13% Php33.2 billion Non-current assets 161,421 116,345 +39% Total Interest-bearing debt was P110.2 billion Total assets 199,697