Bloomberry Resorts Corporation, the Philippine operator behind Solaire Resort Entertainment City and Solaire Resort North, posted a web lack of Php125 million within the first quarter of 2026, reversing a Php3.3 billion revenue in the identical interval final 12 months. The decline primarily displays subdued efficiency in high-stakes VIP and premium mass gaming at its flagship Entertainment City property, in addition to the absence of final 12 months’s one-off beneficial properties from refinancing.
Chairman and CEO Enrique Okay. Razon Jr. famous, “The first three months of 2026 reflected continued softness in the VIP and Premium Mass segments, particularly in Entertainment City. We reported a net loss of Php125 million, which was meaningfully lower than quarterly losses reported in the previous three periods.” He highlighted that prior debt refinancing contributed Php358 million in curiosity financial savings, softening the general influence on the underside line. Additionally, the sale of Bloomberry’s Jeju Sun property in South Korea generated Php403 million in beneficial properties, partially offsetting operational losses.
Performance at Solaire Resort Entertainment City
Solaire Resort Entertainment City (SEC) noticed its gross gaming income (GGR) decline 18 p.c year-on-year to Php10 billion, impacted throughout all gaming classes. VIP rolling chip quantity dropped 39 p.c to Php53.2 billion, with VIP GGR falling 29 p.c to Php2.0 billion. Mass desk gaming income decreased 21 p.c to Php3.9 billion, whereas digital gaming machine (EGM) coin-in fell 22 p.c to Php68.9 billion, producing a GGR decline of 8 p.c to Php4.1 billion. Non-gaming income elevated barely to Php2.0 billion, up 3 p.c from the prior 12 months. EBITDA for SEC was reported at Php1.9 billion, down 44 p.c from Php3.4 billion in Q1 2025.
Solaire Resort North (SN) in Quezon City posted a 1 p.c improve in GGR to Php4.7 billion regardless of a pointy drop in VIP gaming income, which plunged 84 p.c to Php77.5 million resulting from a low maintain charge of 1.54 p.c. Mass desk GGR was steady at Php2.0 billion, whereas EGM GGR rose 20 p.c to Php2.6 billion. Non-gaming income elevated 19 p.c to Php1.1 billion, contributing to an EBITDA achieve of 9 p.c, which rose to Php1.2 billion in comparison with Php1.1 billion within the prior 12 months.
Financial Overview and Expenses
Across the group, consolidated GGR fell 13 p.c year-on-year to Php14.7 billion, with consolidated web income dropping 9 p.c to Php13.1 billion. Cash working bills totaled Php10.1 billion, barely greater than final 12 months, pushed by elevated spending on promotions and exterior providers, although sequentially bills declined 12 p.c. Consolidated EBITDA fell 32 p.c to Php3.0 billion. Bloomberry’s primary earnings per share mirrored a lack of Php0.012, a reversal from a achieve of Php0.315 in Q1 2025.
The firm maintains a consolidated money steadiness of Php31.6 billion and complete long-term debt of Php105.1 billion, reflecting the mixed balances of its syndicated refinancing amenities. Net receivables rose to Php1.5 billion, protecting practically all excellent quantities over 90 days.
Razon emphasised the significance of value self-discipline amid international uncertainty in the company’s press release, notably geopolitical volatility within the Middle East affecting operational prices. Bloomberry stays centered on optimizing its operations and enhancing effectivity whereas navigating the softer VIP and premium mass gaming surroundings. The Jeju Sun exit permits the corporate to streamline its portfolio, specializing in high-performing Philippine properties and on-line gaming platforms.
