Solaire operator Bloomberry Resorts Corp reported a FY25 net loss of Php2.6 billion (US$44.3 million), including a Php2.8 billion (US$47.7 million) loss in the fourth quarter on Manila-wide weakness in the premium gaming segments and expenses related to the launch of its online gaming platform MegaFUNalo.
According to information filed Friday morning, Bloomberry’s FY25 results saw gross gaming revenue fall 3% year-on-year to Php59.8 billion (US$1.02 billion). This included a 23% year-on-year decline in GGR at Solaire Entertainment City to Php41.2 billion (US$702 million), offset by the ramp of Solaire Resort North where GGR climbed to Php18.5 billion (US$315 million).
Consolidated EBITDA of Php10.2 billion (US$174 million) was also down 39% year-on-year, mainly due to a lower contribution from Solaire Entertainment City.
The company did, however, note a 21% increase in consolidated non-gaming and other revenue to Php12.9 billion (US$220 million).
The December quarter proved challenging, with group-wide GGR declining 13% year-on-year to Php14.1 billion (US$240 million) and EBITDA by 67% to Php1.3 billion (US$22.1 million) – the latter impacted by Php723.9 million (US$12.3 million) in operating expenses for MegaFUNalo.
Consolidated net loss of Php2.8 billion (US$47.7 million) in Q4 compared with a loss of Php920.2 million (US$15.7 million) a year earlier.
“2025 was a challenging year, marked by softer inbound tourism and the residual effects of the July 2024 POGO ban, which weighed on revenues across VIP and premium mass,” said Bloomberry Chairman and CEO, Enrique Razon Jr.
“Regulatory uncertainty in the online space also tempered the rollout of our newest digital platform. Bloomberry’s Philippine gaming revenue declined by 3%, however, we outperformed the broader integrated resort market, supported by the continued ramp-up of Solaire Resort North and the resilience of our domestic mass-market business.
“In response to softer revenues, we introduced gaming and resort enhancements to both Solaire properties as well as implemented expense management measures across our business. Our debt refinancing activities in October 2024 and February 2025 have and continue to contribute cost savings as benchmark rates on our floating-rate loans continue to ease. We anticipate further gains from these initiatives in 2026.
“In the online segment, we remain confident in the long-term opportunity as we await greater regulatory clarity and continue strengthening the competitiveness and user experience of our digital platforms.”
Bloomberry also revealed that its Korean casino Jeju Sun, which was spun off and sold earlier this week, fell to a Php153.8 million (US$2.6 million) EBITDA loss in FY25 on a 61% decline in GGR to Php17.3 million (US$295 million). The result was impacted by preparations for the divestment of its gaming operations.
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