BLOOMBERRY Resorts Corp. slipped to a P125-million net loss in the first quarter of 2026 from an income of P3.3 billion last year, as weaker VIP and premium mass gaming volumes dragged revenues at its flagship Solaire Resort Entertainment City in Parañaque.
In a disclosure on Friday, the Enrique Razon Jr.-led gaming and hospitality firm said gross gaming revenue (GGR) declined 13 percent to P14.7 billion from P16.8 billion in 2025.
Consolidated net revenue fell 9 percent to P13.1 billion, while earnings before interest, taxes, depreciation and amortization (Ebitda) dropped 32 percent to P3.0 billion.
“The first three months of 2026 reflected continued softness in the VIP and Premium Mass segments, particularly in Entertainment City,” Razon, Bloomberry chairman and CEO, said.
He stressed the company’s net loss was “meaningfully lower” than losses recorded in the previous three quarters.
Bloomberry said the bottom line was partly cushioned by P358.1 million in interest expense savings from previous debt refinancing activities and a P403-million gain from the sale of Jeju Sun’s gaming license in South Korea.
The company noted, however, that first-quarter 2025 results included a one-time non-cash gain of P2.9 billion from the refinancing of its P40-billion syndicated loan facility, which also affected year-on-year comparisons.
Cash operating expenses edged up 1 percent to P10.1 billion due to higher advertising, promotions and outside services costs.
Operating expenses, however, declined 12 percent as the company intensified cost discipline measures.
“It is encouraging to see a sequential reduction and only a marginal year-over-year increase in operating expenses as our cost discipline initiatives begin to take effect,” Razon said.
“We recognize that the evolving geopolitical situation in the Middle East is contributing to rising cost pressures across the operating environment; in response, we will intensify our cost cutting efforts to manage through the volatility,” he added.
At Solaire Resort Entertainment City, total GGR fell 18 percent to P10.0 billion as all gaming segments posted lower volumes.
VIP rolling chip volume dropped 39 percent to P53.2 billion, while VIP gaming revenue declined 29 percent to P2.0 billion.
Mass table gaming revenue decreased 21 percent to P3.9 billion, while electronic gaming machine revenue slipped 8 percent to P4.1 billion.
Entertainment City’s Ebitda declined 44 percent to P1.9 billion during the quarter.
Meanwhile, Solaire Resort North posted a 1-percent increase in GGR to P4.7 billion.
The property’s net revenue rose 7 percent to P4.5 billion, while Ebitda increased 9 percent to P1.2 billion, supported by stronger electronic gaming machine and non-gaming revenues.
As of end-March, Bloomberry had cash and cash equivalents of P31.6 billion, while total long-term debt stood at P105.1 billion.
Bloomberry’s share price fell by a centavo to close at P1.86 each on Friday.
