Hotel and casino operator Bloomberry Resorts Corp. on Wednesday reported a wider net loss of P1.7 billion in the third quarter of 2025 compared to P470.2-million loss in the same period last year on softer gaming volumes and higher operating expenses.
Gross gaming revenue (GGR) in the third quarter fell 10 percent to P14.6 billion from P16.3 billion in the third quarter of 2024, as weakness persisted in the VIP and premium mass segments, the company said in a stock exchange disclosure.
Consolidated non-gaming and other revenue, however, rose 21 percent to P3.3 billion from P2.8 billion, supported by growth from Solaire Entertainment City, Solaire North and a modest contribution from Jeju Sun.
Bloomberry chairman and chief executive Enrique Razon Jr. said the third quarter mirrored the first half of 2025. “Our consolidated EBITDA declined due to ongoing softness in international high roller activity and increased expenses from the rollout of our online gaming services,” Razon said.
He said the local market remained robust, evidenced by the performance of Solaire North which focuses on the domestic mass market. Gaming and resort revenues at Solaire North rose by 25 percent and 58 percent year-on-year, respectively.
Razon also mentioned that the ramp-up of the online gaming platform MegaFUNalo is progressing, although at a slower pace than anticipated, despite regulatory uncertainties. It plans to launch new content in the coming weeks.
For the nine-month period, net income stood at P160.1 million, sharply lower than P3.5 billion in 2024, as consolidated GGR was nearly flat at P45.7 billion.
Bloomberry announced in October it found a buyer for its struggling South Korean hotel and casino business.
The company’s indirect subsidiary, Golden and Luxury Co. Ltd. (G&L), signed a share purchase agreement with Gangwon Blue Mountain Co. Ltd. Under the deal, G&L will first spin off its casino operations into a new company, which will then be sold to Gangwon Blue Mountain.
The South Korean operations include the Jeju Sun Hotel and Casino on Jeju Island.
