Bloomberry swings to P470M H1 loss

MANILA, Philippines — Bloomberry Resorts Corp. reported a net loss in the first half of 2026 due to poor performance in its VIP and premium mass gaming segments.

On Friday, Enrique Razon Jr.-led casino operator reported consolidated first-half net loss of P470.3 million from a P1.9-billion net income posted in the same period last year.

READ: Bloomberry swings to P125-M Q1 net loss

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The firm said one-off items also affected its bottom line in both periods.

Bloomberry recognized a P403-million gain in the first quarter of 2026 from the sale of the Jeju Sun gaming license.

In comparison, first-half 2025 earnings benefited from a P2.9-billion one-time, non-cash gain from the refinancing of its P40-billion Syndicated Loan Facility.

Consolidated gross gaming revenue (GGR) was flat at P31.1 billion during the first half, while net revenue edged up 1 percent to P27.2 billion.

Meanwhile, consolidated earnings before interest, taxes, depreciation and amortization (Ebitda) declined 7 percent to P6.4 billion from P6.9 billion. Cash operating expenses increased by 3 percent to P20.8 billion.

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Still, Bloomberry saw stronger momentum in the second quarter. GGR rose 15 percent to P16.4 billion as higher hold rates across all gaming segments offset continued weakness in VIP and premium mass demand.

Second-quarter net revenue climbed 11 percent to P14.1 billion, while consolidated Ebitda jumped 35 percent to P3.4 billion, which the company narrow its quarterly net loss to P345.3 million from P1.4 billion a year earlier.

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“We delivered GGR growth in the second quarter, supported by stronger hold rates across our gaming operations,” Razon said. “However, underlying demand in the VIP and premium mass segments remained soft.”

At Solaire Resort Entertainment City, second-quarter GGR increased 18 percent to P11.5 billion, while Ebitda surged 40 percent to P2.4 billion.

In addition, Solaire Resort Quezon City generated P4.9 billion in GGR, up 9 percent. Its Ebitda increased 19 percent to P1.3 billion.

Furthermore, Bloomberry is also pushing its digital gaming business. Razon said the company recently launched FUNaloMax commercially on its proprietary platform, with Solaire Online set to join it in the coming weeks.

The company expects these initiatives, alongside continued cost optimization, to support incremental revenue growth in the coming quarters. /pai