Solaire parent Bloomberry Resorts Corp fell to a net loss of Php1.7 billion (US$28.8 million) in the three months to 30 September 2025, impacted by a decline in high-end gaming revenues and low VIP hold at its flagship Philippines integrated resort, Solaire Resort Entertainment City.
According to information filed Wednesday, consolidated gross gaming revenues fell 10% year-on-year, albeit slightly up quarter-on-quarter, to Php14.6 billion (US$247 million), including a 21% decline in GGR at Solaire Resort Entertainment City to Php10.0 billion (US$170 million).
Although weakness was experienced across all segments, Bloomberry said VIP rolling chip volume suffered the most – falling 34% year-on-year to Php72.0 billion (US$1.22 billion). A VIP hold rate of 2.25% against 3.30% in 3Q24 saw VIP GGR decline by 55% to Php1.6 billion (US$27.1 million).
Mass table drop at Solaire Resort Entertainment City fell 18% to Php8.6 billion (US$146 million) with GGR down 14% to Php3.9 billion (US$66.1 million) while EGM coin-in fell 9% to Php77.6 billion (US$1.32 billion), although GGR was up 0.5% to Php4.5 billion (US$76.3 million). Non-gaming revenue of Php2.1 billion (US$35.6 million) was up 7% from Php1.9 billion (US$32.2 million) in the same quarter last year.
At Solaire Resort North in Quezon City, which opened in May 2024, the ongoing ramp of operations saw GGR climb 25% year-on-year to Php4.6 billion (US$78.0 million) with property EBITDA rising 19% to Php787.6 million (US$13.4 million).
VIP rolling chip volume more than doubled to Php4.9 billion (US$83.1 million), helping reverse a segment loss from 3Q24 with GGR of Php138.0 million (US$2.3 million).
Mass table drop grew 5% to Php6.7 billion (US$114 million) with GGR rising 31% to Php2.1 billion (US$35.6 million) on high hold, while EGM coin-in was up 41% to Php42.6 billion (US$722 million) with GGR of Php2.4 billion (US$40.7 million). Non-gaming revenue grew 58% to Php1.1 billion (US$18.6 million).
Bloomberry’s Korean casino Jeju Sun, recently revealed to be nearing a sale, generated GGR of Php3.8 million (US$64,400) with an EBITDA loss of Php14.6 million (US$247,500) – narrowed from Php71.9 million (US$1.2 million) in 3Q24.
“The business environment in the third quarter mirrored that of the first half of 2025,” said Bloomberry Chairman and CEO, Enrique K Razon Jr. “Our consolidated EBITDA declined due to ongoing softness in international high roller activity and increased expenses from the rollout of our online gaming services.
“However, the local market remained strong as evidenced by revenue performance at Solaire North, which focuses on the domestic mass market, with gaming and resort revenues rising by 25% and 58% year-over-year, respectively.”
“The ramp-up of the MegaFUNalo online gaming platform is progressing, although at a slower pace than anticipated, despite regulatory uncertainties. We are actively enhancing our offerings and plan to launch new content in the coming weeks.”
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