Bloomberry Resorts drew 95% drop in three-quarter bottom line
Bloomberry Resorts Corp.’s income in the January to September period dived by 95 percent as high-roller activity failed to pick up steam, coupled with inflated costs incurred from its new gaming business.
In a disclosure, the company behind Solaire and Solaire North saw its profit plunge to P160.1 million from P3.5 billion a year earlier.
In the third quarter alone, the firm led by billionaire Enrique Razon Jr. widened its net loss to P1.7 billion from P470.2 million a year ago.
Earnings before interest, taxes, depreciation, and amortization (Ebitda) also fell by 30 percent to P8.8 billion.
“The business environment in the third quarter mirrored that of the first half of 2025,” said Razon, chair and chief executive officer of Bloomberry.
“Our consolidated Ebitda declined due to ongoing softness in international high-roller activity and increased expenses from the rollout of our online gaming services,” he added.
The firm’s gross gaming revenue (GGR) reached P45.7 billion in the first nine months. That was almost flat from a year ago amid weakness in the VIP and premium mass segments.
Solaire Resort Entertainment City, for instance, reported a 21-percent drop in GGR for the September quarter at P10 billion from P12.6 billion.
Razon, however, remained optimistic about the firm recovering from this slump, especially with “strong” signals from the Philippine market.
“The local market remained strong as evidenced by revenue performance at Solaire North, which focuses on the domestic mass market, with gaming and resort revenues rising by 25 percent and 58 percent year-over-year, respectively,” he said.
Meanwhile, the combined revenue of mass table games and electronic gaming machines in Bloomberry’s two Metro Manila properties booked a 15-percent growth.
Cash operating expenses jumped 19 percent to P30.9 billion. Of this, the launch of MegaFUNalo accounted for P1.2 billion.
“The ramp-up of the MegaFUNalo online gaming platform is progressing, although at a slower pace than anticipated, despite regulatory uncertainties,” Razon said.
“We are actively enhancing our offering and plan to launch new content in the coming weeks,” he added.
Aside from Solaire and Solaire North, Bloomberry Resorts owns Jeju Sun Hotel & Casino in South Korea.
