Bloomberry Reports Q1 2026 Net Loss
Bloomberry Resorts Corp reported a net loss of approximately PHP125 million (US$2 million) for the first quarter of 2026 as weaker gaming activity at its flagship property weighed on results.
The company generated net revenue of around PHP13.10 billion during the quarter, down 8.8% year-on-year, mainly due to softer gaming revenue at Solaire Resort Entertainment City.
The latest result compared with a profit reported during the same period last year, which had been supported by a PHP2.9 billion one-time non-cash refinancing gain linked to the company’s PHP40 billion syndicated loan facility.
Gross gaming revenue for the quarter declined 12.6% to PHP14.67 billion. Bloomberry stated that the reduction was largely driven by lower VIP and premium mass gaming activity at Solaire Resort Entertainment City.
The Manila property recorded gross gaming revenue of PHP9.98 billion between January and March 2026, representing a 17.9% decrease compared to the previous year. VIP rolling chip turnover fell 39.4% to PHP53.17 billion, while VIP gaming revenue dropped 29.1% to just under PHP2 billion.
The company recently introduced two new gaming areas targeting premium mass table-game players at the Entertainment City property as part of efforts to strengthen performance in that segment.
Meanwhile, Solaire Resort North generated PHP4.698 billion in gross gaming revenue during the quarter, reflecting a 1.3% year-on-year increase.
Bloomberry’s EBITDA for the quarter totalled nearly PHP2.98 billion, down 32% compared to the same period in 2025, although it improved sequentially from PHP1.33 billion recorded in the fourth quarter of 2025.
Consolidated cash operating costs reached PHP10.12 billion, up 1.4% year-on-year. The company attributed the increase to higher spending on advertising, promotions and outsourced services.
Enrique Razon said the business continued to face pressure in the VIP and premium mass segments, particularly at Entertainment City, although the company’s quarterly loss was significantly lower than losses recorded during the previous three quarters.
Razon added that Bloomberry benefited from earlier refinancing measures, which generated PHP358 million in interest savings during the quarter.
He also confirmed that Bloomberry exited the South Korean casino market in March following the sale of its gaming operations, including the Jeju Sun Casino Hotel. According to the company, the transaction generated a PHP403 million gain that helped reduce quarterly losses.
Razon stated that the company continues implementing cost-saving measures as it navigates softer market conditions and rising operational pressures during 2026.
