Bloomberry reports Q2, revenue reaches $250M
Bloomberry Resorts Corporation has reported a one percent year-on-year increase in gross gaming revenue (GGR) for the second quarter of 2025, reaching PHP 14.3 billion ($250 million). While revenues improved slightly, the operator recorded a higher net loss and lower earnings as weaker VIP performance and higher operating costs offset gains from its Solaire North property.
Q2 2025 performance
In Q2 2025, Bloomberry posted consolidated GGR of PHP 14.3 billion, compared to PHP 14.1 billion in the same quarter last year. Consolidated EBITDA stood at PHP 2.5 billion, which was 30 percent lower than Q2 2024, driven mainly by reduced contributions from Solaire Resort Entertainment City (SEC) and a soft VIP segment.
The company reported a consolidated net loss of PHP 1.4 billion for the quarter, up from PHP 1.3 billion in the previous year. Mass table and electronic gaming machine (EGM) GGR across Bloomberry’s two Manila properties increased by 18 percent year-on-year.
SEC remained the main revenue driver, generating PHP 9.8 billion in GGR for the quarter, although this was 27 percent lower than the same period last year. Solaire Resort North contributed around PHP 4.5 billion, supported by strong mass table and EGM volumes.
Jeju Sun Resort & Casino in South Korea saw a sharp decline, with revenue falling to PHP 2.5 million from PHP 35.7 million in Q2 2024.
H1 2025 results
For the first half of 2025, Bloomberry’s revenue grew six percent year-on-year to PHP 31.1 billion. Net revenue was PHP 27 billion, up nine percent from H1 2024. However, consolidated EBITDA fell to PHP 6.8 billion from PHP 8.6 billion last year, partly due to PHP 509.5 million in operating expenses from its new domestic online gaming platform, MegaFUNalo!.
Consolidated net income for H1 2025 dropped 71.2 percent year-on-year to PHP 1.9 billion. The decline reflected the weaker performance of SEC’s VIP and premium mass segments, alongside additional investment in the new digital platform.
Shift towards digital and mass gaming
In late Q1 2025, Bloomberry launched MegaFUNalo! as part of a broader strategy to expand into online gaming following the Philippines’ swift ban on Philippine Offshore Gaming Operator (POGO) activities. The soft launch took place in June, with plans to introduce more games and features in the coming months to strengthen competitiveness.
The company’s focus on mass gaming and non-gaming revenue continued to yield results, with Metro Manila mass gaming revenue rising 18 percent year-on-year in Q2 and non-gaming revenue growing 37 percent.
CEO statement
Bloomberry Chairman and CEO Enrique K. Razon Jr said the second quarter remained challenging for the company due to softness in SEC’s VIP and premium mass segments. He noted that Solaire North’s growth helped offset some of the declines and contributed to stronger mass gaming and non-gaming revenue across Metro Manila.
He confirmed that the company would continue enhancing MegaFUNalo! with more content and features to strengthen its market position in the domestic online gaming space.
Management updates
In June, Bloomberry appointed former SJM Chief Gaming Officer Damian Quayle as president of Solaire North. The appointment is aimed at boosting performance at the property, which has shown growth in both mass gaming volumes and non-gaming revenue since opening.
