Solaire Resort operator Bloomberry Resorts Corp reported a net loss of Php1.4 billion (US$24.7 million) in the three months to 30 June 2025, impacted by ongoing weakness in the VIP and premium mass gaming segments and expenses associated with its new domestic online gaming platform MegaFUNalo!
The impact on VIP and premium mass was felt at Solaire Resort Entertainment City (SEC), offset by a year-on-year increase in volume at Solaire Resort North (SN) in Quezon City – opened in May 2024. The company recorded a profit of Php1.3 billion (US$22.9 million) during the same period last year.
According to information filed with the Philippine Stock Exchange, group-wide GGR fell by 1% year-on-year and 15% year-on-year to Php14.3 billion (US$252 million) in Q2, including a 27% decline in GGR at SEC to Php9.8 billion (US$173 million). This was on the back of a 46% fall in Vip rolling chip volume and 23% drop in mass table drop, compared with a smaller 12% decline in EGM coin-in. Non-gaming revenue increased by 2% to Php2.1 billion (US$37.1 million).
That was in contrast to SN, where GGR grew from Php1.1 billion (US$19.4 million) a year ago to Php4.5 billion (US$79.4 million) – gaining traction in the mass table and EGM segments. SN also generated EBITDA of Php1.1 billion (US$19.4 million) versus Php250.1 million (US$4.41 million) in 2Q24, while SEC saw its EBITDA drop by 61% to Php1.7 billion (US$30.0 million). Group-wide EBITDA fell 30% to Php2.5 billion (US$44.1 million).
In comments accompanying the company’s results release, Bloomberry Chairman and CEO Enrique Razon Jr said, “It was a challenging second quarter for Bloomberry as softness persisted in Solaire Entertainment City’s VIP and premium mass segments. However, Solaire North saw further growth as mass gaming volumes and non-gaming revenue increased over the previous quarter.
“The gains in our second property contributed to the performance of our Metro Manila mass gaming and non-gaming revenue which rose 18% and 37% year-over-year, respectively.”
“Last June, our new online platform MegaFUNalo! was made available to the public on a soft-launch basis. In the coming months, we will introduce more content and enhancements to the platform that will strengthen its competitiveness.”
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