Bloomberry Resorts Corporation, operator of Solaire Resort Entertainment City, Solaire Resort North, and Jeju Sun Hotel & Casino, reported a P1.4 billion net loss in the second quarter of 2025, reversing a P1.3 billion profit in the same period last year as weakness in the VIP and premium mass segments weighed on results.

Chairman and CEO Enrique K. Razon Jr. said, “It was a challenging second quarter for Bloomberry as softness persisted in Solaire Entertainment City’s VIP and premium mass segments. However, Solaire North saw further growth as mass gaming volumes and non-gaming revenue increased over the previous 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 37P year-over-year, respectively.”

Consolidated gross gaming revenue (GGR) was P14.3 billion, down 1 percent year-on-year. Non-gaming revenue rose 35 percent to P3.2 billion, driven largely by Solaire North’s expansion. The company also soft-launched its new online platform “MegaFUNalo!” in June, with plans to roll out more content and features in the coming months.

Solaire Entertainment City’s GGR fell 27 percent to P9.8 billion on weaker volumes and lower win rates across all segments, particularly in VIP play. By contrast, Solaire North generated P4.5 billion in GGR — quadrupling its comparative 37-day Q2 2024 performance — supported by higher mass table and electronic gaming machine volumes.

EBITDA for the quarter was P2.5 billion, down 30 percent from last year, while cash operating expenses rose 17 percent to P10.2 billion, reflecting a full quarter of Solaire North operations and costs related to “MegaFUNalo!”

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