MJC Investments Corp., led by bilyonaryo Boy Reyno, managed to trim its net loss in the six months through June by 24.5 percent despite the continuing challenges posed by the pandemic.
The company saw its net loss decline to P249.4 million from P330.3 million last year on the back of higher revenues as restrictions eased and economic activities returned.
Revenues more than doubled to P166.3 million from P78.6 million. These came from the company’s 40 percent share in gaming operations, revenue from operations of hotel, food and beverages, bingo operations, rental and other revenue.
Higher gaming capacity and foot traffic lifted the company’s revenue share in gaming operations by 97 percent to P91.4 million.
Revenue from hotel rooms also grew by 16 percent to P24.5 million as a result of increased number of leisure bookings.
Food and beverage revenue surged by 135 percent to P16.9 million, owing to higher food and beverage covers and banquet events.
The bingo operations, which resumed operations in December 2021 on limited capacity, booked P25.6 million in revenue.
With more concessionaires resuming their operations at higher capacity, MJC’s rental revenue jumped 69 percent to P5.4 million.
As of June, operational gaming tables at the Winford Manila Resort & Casino (WMRC) stood at 22 while operational slot machines were at 492.
WMRC plans to steadily increase its operational table games to 30 and operational slot machines to more than 500.
“As for table games, the pandemic proved that game pace can be improved with the lessening of crowding. WMRC intends to keep this practice for its higher limit tables, and intends to increase the number of table games to 30 by the last quarter of 2022 from its current complement of 22,” MJC said.
On the hotel front, MJC said weekend demand for staycations has returned while it is working with the government, pharmaceuticals, and other corporate accounts to fill up rooms on weekdays.