Bloomberry’s Q3 loss widens to P1.7B on online gaming costs, soft VIP casino activity

Bloomberry's Q3 Loss Widens The Impact of Online Gaming Expenses and Soft VIP Casino Activity

In its latest financial report, Bloomberry Resorts Corp., led by Razon, revealed a significant net loss of P1.7 billion in the third quarter (Q3), a notable widening from the P470.2-million loss reported in the same period last year. The company's Q3 performance was primarily affected by higher expenses incurred by its MegaFUNalo! online platform and weaker international casino activity.

The Rise of Online Gaming A New Revenue Stream

Bloomberry's Q3 financial statement highlights the growing importance of online gaming as a revenue stream. In an effort to stay ahead of the curve, the company invested heavily in its digital platform, MegaFUNalo!. While this shift towards online gaming presents opportunities for growth, it has also come at a cost – a significant increase in expenses.

Soft VIP Casino Activity A Decline in High-Stakes Gaming

In addition to rising costs, Bloomberry's Q3 performance was impacted by soft VIP casino activity. Gross gaming revenue (GGR) fell 10% year-over-year to P14.6 billion, indicating a decline in high-stakes gaming at the company's international casinos.

A Wake-Up Call for Civic Planners and Policymakers

Bloomberry's Q3 loss serves as a wake-up call for civic planners and policymakers tasked with developing integrated resorts (IRs) in 2025. As online gaming continues to disrupt traditional casino revenue streams, it is essential that these authorities prioritize infrastructure development and innovation.

The Future of Gaming Opportunities and Challenges

The shift towards online gaming presents both opportunities and challenges for the gaming industry as a whole. For Bloomberry, this means embracing new technologies and adapting to changing consumer preferences. By doing so, the company can capitalize on the growth potential of online gaming and minimize losses.

Conclusion

In conclusion, Bloomberry's Q3 loss serves as a reminder that the gaming industry is in a state of perpetual evolution. As traditional revenue streams decline, it is essential for operators like Bloomberry to invest in innovative platforms and adapt to changing consumer habits. With the right strategy in place, there is still much to be gained from the world of online gaming.

Keywords

Online Gaming
MegaFUNalo!
Gross Gaming Revenue (GGR)
Integrated Resorts (IRs)

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Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.