BLOOMBERRY Resorts Corp., operator of Solaire Resort & Casino, reported a consolidated net loss of P2.6 billion last year, reversing from a P2.6-billion profit in 2024 as softer VIP and premium mass gaming segments weighed on earnings.
In a disclosure on Friday, the gaming and resort operator said consolidated earnings before interest, taxes, depreciation and amortization (Ebitda) declined 39 percent year-on-year to P10.2 billion from P16.6 billion in 2024.
Net revenue slipped one percent to P52.5 billion from P53.1 billion while gross gaming revenue (GGR) dropped three percent to P59.8 billion from P61.7 billion, reflecting industry-wide weakness in the VIP and premium mass segments.
The company said the decline was partly offset by contributions from newer asset Solaire Resort North, which continued to ramp up operations.
Bloomberry Chairman and CEO Enrique Razon Jr. said “2025 was a challenging year, marked by softer inbound tourism and the residual effects of the July 2024 POGO (Philippine offshore gaming operator) ban, which weighed on revenues across VIP and premium mass.”
He added that regulatory uncertainty in the online gaming space also slowed the rollout of the company’s new digital platform.
Despite the headwinds, Razon said Bloomberry’s Philippine gaming revenue declined only three percent, outperforming the broader integrated resort market.
He said the continued ramp-up of Solaire Resort North and steady domestic mass-market demand helped stem the decline in gaming revenue.
The company’s flagship property, Solaire Resort Entertainment City, recorded GGR of P41.2 billion, down 23 percent from P53.2 billion a year earlier, as VIP rolling chip volumes dropped 37 percent.
Ebitda for the year was P7.1 billion, down 59 percent from the prior year, due to lower gaming revenues and operating expenses tied to the company’s MegaFUNalo online platform.
Meanwhile, Solaire Resort North generated GGR of P18.5 billion during the year, benefiting from its first full year of operations after opening in May 2024.
The property posted Ebitda of P3.8 billion, up from P1.3 billion in 2024.
Across the group, nongaming revenue rose 21 percent to P12.9 billion, supported by higher hotel, food and beverage, and entertainment activity.
For the fourth quarter alone, Bloomberry reported GGR of P14.1 billion, down 13 percent year-on-year, while net revenue declined 12 percent to P12.8 billion.
Ebitda in the final quarter was P1.3 billion, down 67 percent, partly affected by P723.9 million in operating expenses related to MegaFUNalo, resulting in net loss for the quarter widening to P2.8 billion from P920.2 million a year earlier.
Bloomberry said the full-year net loss was partly offset by a P2.9 billion one-time, noncash refinancing gain related to the refinancing of a P40 billion syndicated loan facility.
The company ended 2025 with cash and cash equivalents of P26.5 billion and total outstanding long-term debt of P105.4 billion.
Equity attributable to shareholders stood at P59.2 billion as of end-December 2025.
Bloomberry’s overseas unit Jeju Sun Hotel & Casino in South Korea generated GGR of P17.3 million during the year, down 61 percent, as the property prepared for the divestment of its gaming operations. The spin-off and sale of the casino business was completed on March 4, 2026.
Bloomberry Resorts shares on Friday fell P0.03, or 1.15 percent, to close at P2.59 each.