Solaire operator Bloomberry Resorts Corp reported a narrowed loss of Php345.3 million (US$5.6 million) in the three months to 30 June 2026, down from Php1.4 billion (US$22.8 million) during the same period last year. The loss was, however, wider than the Php125 million (US$2.0 million) loss reported in Q1.
In its 2Q26 results announcement, Bloomberry pointed to a 15% year-on-year increase in consolidated GGR to Php16.4 billion (US$267 million), aided by higher hold rates across all gaming segments. However, the company noted that the VIP and premium mass segments continued to experience weakness – even though rolling chip volume across both of its Manila resorts showed improvement compared to the same time last year.
Non-gaming revenue was Php3.2 billion (US$52.1 million) for the quarter, unchanged from the same quarter last year, with Adjusted EBITDA rising 35% to Php3.4 billion (US$55.3 million).
“We delivered GGR growth in the second quarter, supported by stronger hold rates across our gaming operations,” explained Bloomberry’s Chairman and CEO, Enrique K. Razon Jr. “However, underlying demand in the VIP and premium mass segments remained soft. Assertive cost management complemented higher revenues, driving EBITDA growth both sequentially and year-over-year.
“Our focus on operating efficiency continues to drive results. Despite a challenging macroeconomic environment characterized by elevated oil prices, higher interest rates and weaker peso, we limited cash operating expense growth to just 5% and 3% for the quarter and the first half, respectively, underscoring the effectiveness of our cost optimization initiatives.”
By property, Solaire Resort Entertainment City recorded an 18% year-on-year increase in GGR – aided by the better hold rates and improved performance in VIP. The company revealed a 12% increase in VIP rolling chip volume to Php71.3 billion (US$1.16 billion), while VIP GGR soared by 81% thanks to the strong 3.61% hold.
Mass table drop was Php7.6 billion (US$124 million), representing a year-over-year decline of 4%. However, also buoyed by solid hold, mass table GGR grew by 8% compared with 2Q25 to Php3.9 billion (US$63.5 million).
Meanwhile, EGM coin-in fell by 12% to Php71.6 billion (US$1.17 billion), with EGM GGR rising 6% to Php4.7 billion (US$76.5 million).
The property generated EBITDA of Php2.4 billion (US$39.1 million) for the quarter, which was 40% higher than the Php1.7 billion (US$27.7 million) reported in the same quarter of last year.
At Solaire Resort Quezon City, GGR grew by 9% year-on-year to Php4.9 billion (US$79.8 million) thanks to a 101% increase in VIP rolling chip volume to P8.6 billion (US$140 million) – resulting in a 122% increase in VIP GGR to Php460 million (US$7.5 million).
Conversely, mass table drop fell by 23% to Php5.4 billion (US$87.9 million) and mass table GGR by 5% to Php1.9 billion (US$30.9 million). EGM coin-in was Php42.9 billion (US$698 million), up 7% year-on-year, with EGM GGR rising 9% to Php2.7 billion (US$43.9 million).
Solaire Resort Quezon City generated EBITDA of Php1.3 billion (US$21.2 million), higher by 19% compared to 2Q25.
Notably, Bloomberry’s Korean hotel asset Jeju Sun generated positive EBITDA for the first time since the company acquired the property in 2015, having sold off the casino business earlier this year. As a result, Jeju Sun generated EBITDA of Php2.8 million (US$45,575) versus an EBITDA loss of Php41.4 million (US$673,860) a year earlier.
Razon said the company’s priority moving forward would be to focus on disciplined execution.
“Alongside continued cost optimization, we are advancing our digital strategy with the recent commercial launch of FUNaloMax on our proprietary platform which will be joined by Solaire Online on the same platform in the coming weeks. We anticipate that these initiatives will enhance the patron experience and position Bloomberry to capture incremental revenue growth in the quarters ahead,” he said.
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