Bloomberry posts Q2 net loss on weaker VIP, premium mass segments

Bloomberry Resorts Corp. reported a net loss of P1.4 billion in the second quarter of 2025, reversing the P1.3-billion profit a year ago, as weaker volumes and lower win rates in Solaire Entertainment City’s VIP and premium mass segments weighed on earnings.

Chairman and CEO Enrique Razon Jr. said the softness in its Entertainment City operations was partially offset by continued growth at Solaire North, where mass gaming volumes and non-gaming revenues rose quarter-on-quarter.

“The gains in our second property contributed to the performance of our Metro Manila mass gaming and non-gaming revenue which rose 18 percent and 37 percent year-over-year, respectively,” he added.

Gross gaming revenue (GGR) for the quarter slipped 1 percent to P14.3 billion, with declines in VIP and premium mass segments offset by stronger mass table and electronic gaming machine performance across its Metro Manila properties. First-half GGR climbed 6 percent to P31.1 billion.

Non-gaming revenues surged 35 percent to P3.2 billion in Q2, while consolidated net revenue rose 3 percent to P12.7 billion. However, cash operating expenses jumped 17 percent to P10.2 billion, reflecting a full quarter of Solaire North costs and P461 million in expenses for its new online platform, MegaFUNalo!.

Consolidated EBITDA dropped 30 percent to P2.5 billion in Q2, while first-half net income slid 52 percent to P1.9 billion.

By property, Solaire Entertainment City posted a 27 percent drop in GGR to P9.8 billion, driven by a 46 percent decline in VIP rolling chip volume and a lower VIP hold rate. In contrast, Solaire North’s GGR surged to P4.5 billion from P1.1 billion in the prior year’s 37-day operating period, with strong gains in both mass table and EGM segments.

As of 30 June, Bloomberry held P29.6 billion in cash and P106.1 billion in long-term debt.