Bloomberry Resorts Corp. cut its second-quarter net loss by about 75 percent as stronger gaming revenue and tight cost controls drove a sharp improvement in earnings despite weak demand from VIP and premium mass players.

The casino operator posted a consolidated net loss of P345.3 million in the second quarter, down from P1.4 billion a year earlier. Gross gaming revenue jumped 15 percent to P16.4 billion, while net revenue rose 11 percent to P14.1 billion.

Consolidated EBITDA surged 35 percent to P3.4 billion from P2.5 billion, reflecting higher gaming revenue and the impact of cost optimization efforts.

Cash operating expenses increased only 5 percent to P10.7 billion during the quarter. For the first half, operating costs were capped at a 3-percent increase to P20.8 billion.

Gross gaming revenue growth

“We delivered GGR growth in the second-quarter, supported by stronger hold rates across our gaming operations. However, underlying demand in the VIP and premium mass segments remained soft. Assertive cost management complemented higher revenues, driving EBITDA growth both sequentially and year-over-year,” Bloomberry chairman and CEO Enrique K. Razon Jr. said.

For the first six months, Bloomberry remained in a net loss of P470.3 million, reversing the P1.9-billion net income recorded in the same period last year. First-half GGR was flat at P31.1 billion, while net revenue increased 1 percent to P27.2 billion. EBITDA fell 7 percent to P6.4 billion.

P403-M gain from Jeju Sun gaming license sale

The company said the year-on-year comparison was affected by one-off gains, including a P403-million gain from the sale of the Jeju Sun gaming license in the first quarter of 2026 and a P2.9-billion non-cash gain from its 2025 refinancing.