Bloomberry Resorts Corp. said Wednesday it incurred a consolidated net loss of P1.4 billion in the second quarter of 2025, a sharp reversal from the P1.3-billion net income it reported in the same period last year, on lower gaming revenues and higher expenses following the launch of its new online gaming platform.
Gross gaming revenues (GGR) in second quarter slipped 1 percent to P14.5 billion due to continued weakness in the VIP and premium mass segments at Solaire Resort & Casino in Entertainment City, the company said in a disclosure to the stock exchange.
“It was a challenging second quarter for Bloomberry as softness persisted in Solaire Entertainment City’s VIP and premium mass segments,” said Bloomberry chairman and chief executive Enrique Razon Jr.
Razon said, however, the newly-opened Solaire North saw further growth as mass gaming volumes and non-gaming revenue increased over the previous quarter.
GGR at Solaire in Entertaintment City alone fell 27 percent to P9.8 billion, while Solaire North generated GGR of P9.1 billion in the first six months, compared to only P1.1 billion covering the May 25 to June 30, 2024 period.
For half of the year, Bloomberryy’s net income dropped 52 percent year-on-year to P1.9 billion from P4 billion in the same period of 2024.
Gaming revenues in the first half rose 6 percent to P31.1 billion as the combined performance of mass table games and electronic gaming machines across the company’s two Metro Manila properties recorded GGR growth 24 percent in the first half of the year.
GGR from VIP segment plunged 62 percent in the second half of the year to P1.4 billion, while mass table GGR dropped 9 percent to P3.9 billion. Electronic gaming machines’ GGR fell 16 percent to P4.5 billion.
Non-gaming revenue was P3.2 billion for the second quarter, up by 35 percent from a year ago, while first-half non-gaming revenues amounted to P6.2 billion, also up by 35 percent year-on-year.
“Last June, our new online platform ‘MegaFUNalo!’ was made available to the public on a soft-launch basis. In the coming months, we will introduce more content and enhancements to the platform that will strengthen its competitiveness,” Razon said.
