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Manila Bulletin devider Business devider The Stock Market devider Bloomberry's 9-month profit plunges 95% as Q3 losses ballooned

Bloomberry's 9-month profit plunges 95% as Q3 losses ballooned

Published Nov 12, 2025 10:28 am  |  Updated Nov 12, 2025 02:39 pm
Bloomberry Resorts Corp. reported a 95-percent plunge in consolidated net income for the first nine months of the year on the back of ballooning losses in the third quarter as the international high-roller market remains weak while expenses increased for its new online gaming business.
In a disclosure to the Philippine Stock Exchange (PSE), the firm said its net income in the first nine months of 2025 was ₱160.1 million versus ₱3.5 billion in the same period last year.
Notable one-off items that impacted net income in the first nine months of 2025 were both related to the refinancing of its ₱40-billion syndicated loan facility: ₱175 million of gross receipts tax-related charges and the ₱2.9-billion one-time, non-cash refinancing gain.
Bloomberry reported a net loss of ₱1.7 billion for the third quarter, which compares to the net loss of ₱470.2 million in the same period last year.
“The business environment in the third quarter mirrored that of the first half of 2025. Our consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) declined due to ongoing softness in international high-roller activity and increased expenses from the rollout of our online gaming services,” said Bloomberry Chairman and Chief Executive Officer (CEO) Enrique K. Razon Jr.
However, he noted that the local market remained strong, as evidenced by revenue performance at Solaire Resort North (SN), which focuses on the domestic mass market, with gaming and resort revenues rising by 25 percent and 58 percent year-on-year, respectively.
“The ramp-up of the MegaFUNalo online gaming platform is progressing, although at a slower pace than anticipated, despite regulatory uncertainties. We are actively enhancing our offerings and plan to launch new content in the coming weeks,” Razon added.
Bloomberry’s gross gaming revenue (GGR) was ₱14.6 billion, representing a decrease of 10 percent from ₱16.3 billion in the third quarter of 2024. Weakness in the VIP and premium mass segments persisted through the third quarter.
In the first nine months of 2025, consolidated GGR was ₱45.7 billion, higher by 0.4 percent compared to the same period last year.
Meanwhile, the combined revenue of mass table games and electronic gaming machines across the company’s two Metro Manila properties recorded growth of 15 percent in the first nine months.
Contra-revenue accounts in the third quarter decreased by nine percent year-on-year to ₱3.4 billion. This represents 23 percent of consolidated GGR, unchanged from the same quarter last year.
Non-gaming and other revenue was ₱3.3 billion for the quarter, representing an increase of 21 percent from the ₱2.8 billion generated in the same quarter last year.
In the first nine months of 2025, non-gaming revenue was ₱9.5 billion, higher by 29 percent year-on-year.
Net revenue in the third quarter was ₱12.7 billion, representing a decrease of eight percent from ₱13.8 billion in the same period last year. Net revenue increased by three percent in the first nine months to ₱39.7 billion.
Solaire Resort Entertainment City (SEC) posted total GGR of ₱10 billion in the third quarter, representing a decline of 21 percent from ₱12.6 billion in the same period of 2024. Its GGR was negatively impacted by weaker volumes across all gaming segments and lower win rates in VIP tables.
SEC’s non-gaming revenue was ₱2.1 billion, up seven percent from ₱1.9 billion in the same quarter last year.
SN generated GGR of ₱4.6 billion for the quarter, representing a 25-percent increase from the ₱3.7 billion it generated in the third quarter of 2024—its first full quarter of operations.
SN’s non-gaming revenue was ₱1.1 billion, up 58 percent from ₱714.6 million in the same quarter last year.
Solaire Korea’s Jeju Sun Resort & Casino recorded gross gaming revenue of ₱3.8 million, reversing from a loss of ₱7.9 million in the same quarter last year.
Its non-gaming revenue was ₱137.3 million, up 13 percent from ₱121.9 million in the third quarter of 2024.

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Bloomberry Resorts Corporation Enrique K. Razon Jr. Solaire Entertainment City Solaire Resort North Jeju Sun Hotel & Casino
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