Bloomberry reverses to net loss
Bloomberry Resorts Corp. reported a net loss of P2.6 billion in 2025, reversing the P2.6 billion net income recorded the year before, as weaker performance in key gaming segments weighed on profitability.
The Enrique Razon Jr.-led firm disclosed on Friday that its gross gaming revenue (GGR) slipped 3 percent to P59.8 billion from P61.7 billion in 2024.
The decline reflected persistent weakness in the VIP and premium mass segments across the industry.
Bloomberry said consolidated net revenue edged lower by one percent to P52.5 billion from P53.1 billion a year earlier.
Meanwhile, consolidated earnings before interest, taxes, depreciation and amortization (Ebitda) dropped 39 percent to P10.2 billion.
This was from P16.6 billion in 2024, largely due to reduced earnings from Solaire Resort Entertainment City.
“The year 2025 was a challenging year, marked by softer inbound tourism and the residual effects of the July 2024 Pogo (Philippine offshore gaming operator) ban, which weighed on revenues across VIP and premium mass. Regulatory uncertainty in the online space also tempered the rollout of our newest digital platform,” Razon said.
“Bloomberry’s Philippine gaming revenue declined by 3 percent; however, we outperformed the broader integrated resort market, supported by the continued ramp-up of Solaire Resort North and the resilience of our domestic mass-market business,” he added.
Integrated operations
Nongaming revenue provided some support, climbing 21 percent to P12.9 billion from P10.7 billion in 2024. This growth came from the company’s integrated resort operations, including hotel, food and beverage and other services.
At Solaire Resort Entertainment City, GGR fell by 23 percent to P41.2 billion from P53.2 billion in 2024. The property generated Ebitda of P7.1 billion, down 59 percent year on year.
Meanwhile, Solaire Resort North continued to gain traction following its opening in May 2024. The property generated GGR of P18.5 billion in 2025.
That was more than double the P8.4 billion recorded in its first 221 operating days in 2024. Ebitda from the property reached P3.8 billion for the year.
The group’s Jeju Sun Hotel & Casino in South Korea recorded GGR of P17.3 million in 2025, down 61 percent from the previous year as the company prepared for the divestment of its gaming operations.
The spin-off and sale of the casino business were completed on March 4, 2026.
As of Dec. 31, 2025, Bloomberry held P26.5 billion in consolidated cash and cash equivalents. Total long-term debt stood at P105.4 billion. Equity attributable to shareholders reached P59.2 billion.
The company also noted that one-off items affected profitability. These include a P2.9 billion noncash refinancing gain related to the refinancing of a P40-billion syndicated loan facility, as well as certain tax charges and an impairment on an investment in Aviation Concepts Technical Services Inc.
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