Bloomberry Resorts Corporation reports Q1 net loss amid softer VIP gaming demand
Gross gaming revenue declined 13 per cent year-on-year.
The Philippines.- Bloomberry Resorts Corporation has reported a net loss of PHP125m (US$2.2m) for the first quarter of 2026. That compares to net income of PHP3.3bn (US$57.5m) in the same period last year and a PHP2.81bn loss in Q4, 2025.
Softer VIP and premium mass gaming volumes weighed on performance at Solaire Resort Entertainment City. Gross gaming revenue (GGR) reached PHP14.7bn (US$256.5m), down 13 per cent year-on-year, primarily due to lower gaming volumes at the Entertainment City property. Consolidated EBITDA declined 32 per cent to PHP3bn (US$52.3m), while net revenue fell 9 per cent to PHP13.1bn (US$228.6m).
Enrique K. Razon Jr., Bloomberry chairman and CEO, said quarterly losses were “meaningfully lower” than in the previous three quarters and that cost discipline initiatives had started to reduce operating expenses sequentially. He said cost-cutting efforts would intensify in response to the geopolitical situation in the Middle East.
At Solaire Resort Entertainment City, quarterly GGR declined 18 per cent year-on-year to PHP10bn (US$174.4m). VIP rolling chip volume dropped 39 per cent to PHP53.2bn (US$927.7m), while mass table and electronic gaming machine segments also recorded declines. EBITDA at the property fell 44 per cent to PHP1.9bn (US$33.1m).
Solaire Resort North generated GGR of PHP4.7bn (US$82m), up 1 per cent year-on-year, supported by stronger electronic gaming machine performance and higher non-gaming revenue. EBITDA rose 9 per cent to PHP1.2bn (US$20.9m).
The company recorded a one-off gain of PHP403m (US$7m) from the sale of the Jeju Sun Hotel & Casino licence during the quarter.
