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Manila Bulletin devider Business devider The Stock Market devider Bloomberry slashes net loss to ₱470 million in first semester on cost cuts

Bloomberry slashes net loss to ₱470 million in first semester on cost cuts

Published Aug 14, 2026 01:44 pm
Bloomberry Resorts Corp., the casino and leisure operator controlled by trillionaire Enrique Razon Jr., narrowed its first-half net loss by 75 percent as cost reductions and lower interest expenses helped offset the absence of a large one-time accounting gain recorded a year earlier.
In a disclosure to the Philippine Stock Exchange, Bloomberry said net loss for the six months through June dropped to ₱470.3 million from ₱1.9 billion in the same period of 2025.
The bottom line was aided by a ₱403 million first-quarter gain from the sale of its Jeju Sun gaming license in South Korea through a demerger and share-purchase deal.
By comparison, earnings in the prior-year period were bolstered by a non-cash, one-time gain of ₱2.9 billion tied to the refinancing of a ₱40 billion syndicated loan facility.
For the second quarter, net loss also shrank by 75 percent to ₱345.3 million from ₱1.4 billion a year earlier.
Gross gaming revenue (GGR) rose 15 percent to ₱16.4 billion in the April–June period, driven by higher hold rates across gaming tables and slot machines, even as VIP and premium mass market demand remained subdued.
First-half GGR was unchanged at ₱31.1 billion. Net revenue for the second quarter advanced 11 percent to ₱14.1 billion, lifting six-month net revenue up one percent to ₱27.2 billion.
“We delivered GGR growth in the second quarter, supported by stronger hold rates across our gaming operations,” Bloomberry Chairman and Chief Executive Officer Enrique K. Razon Jr. said.
“Assertive cost management complemented higher revenues, driving EBITDA growth both sequentially and year-over-year,” he added.
Razon noted that strict expense controls held cash operating expense growth to three percent for the first half and five percent for the second quarter, despite macroeconomic headwinds including elevated crude oil prices, high interest rates, and a weaker peso.
To capture new growth, the operator of Solaire Resort Entertainment City and Solaire Resort Quezon City is pushing further into digital gaming. The company recently rolled out its FUNaloMax online gaming service on its proprietary platform, with Solaire Online scheduled to join the platform in the coming weeks.
At flagship property Solaire Resort Entertainment City in Entertainment City, second-quarter GGR expanded 18 percent to ₱11.5 billion, while non-gaming revenue fell six percent to ₱2 billion. The newer Solaire Resort Quezon City generated ₱4.9 billion in GGR, up nine percent, alongside ₱1.1 billion in non-gaming revenue.
Meanwhile, non-gaming facility Jeju Sun turned in earnings before interest, taxes, depreciation, and amortization of ₱2.8 million for the quarter, reversing an EBITDA loss of ₱41.4 million a year earlier.
The performance marked the property’s first positive quarterly EBITDA since Bloomberry acquired it in 2015, following its exit from casino operations. (James A. Loyola)

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Bloomberry Resorts Corporation Enrique K. Razon Jr. Solaire Entertainment City
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