Bloomberry Resorts Corporation, a prominent player in the Philippine gaming industry, reported a significant downturn in its 2025 financial performance, concluding the year with a net loss of PHP2.64 billion (US$44.7 million). This loss marks a stark contrast to the previous year’s profit of PHP2.58 billion (US$43.7 million), driven largely by declining gaming revenues and increased operating costs. The results were particularly impacted by a weakened tourism sector and ongoing regulatory challenges, including the effects of a ban on Philippine Offshore Gaming Operators (POGOs).

Softening Tourism and POGO Ban Pressure Revenues

The company’s gross gaming revenue (GGR) for the year dropped by 3.1%, totaling PHP59.79 billion (US$1.01 billion). This decline was exacerbated by the persistent effects of the POGO ban, which severely impacted the VIP and premium mass segments of Bloomberry’s gaming operations. Additionally, regulatory uncertainty surrounding the online gaming space hindered the rollout of Bloomberry’s new digital platform, MegaFUNalo, which launched in mid-2025.

Despite these challenges, Bloomberry’s chairman and CEO, Enrique Razon Jr., emphasized that the company’s performance still outperformed the broader integrated resort market, primarily due to the continued ramp-up of Solaire Resort North in Quezon City, which saw growth in its gaming revenues. This success was partially offset by a 26% year-on-year decline in GGR at the flagship Solaire Resort & Casino at Entertainment City in Manila, where VIP revenues dropped by 67%.

According to Asia Gaming Brief, the fourth quarter of 2025 proved particularly tough, with the company recording a PHP2.8 billion (US$47.46 million) loss compared to PHP920 million (US$15.6 million) in Q4 of 2024. This sharp increase in losses was compounded by a 12.8% drop in GGR during the quarter, which amounted to PHP14.1 billion (US$240 million). The decline was driven by weaker performance at Solaire Resort & Casino, where VIP rolling chip volume fell 50% and mass gaming revenues contracted.

In contrast, Solaire Resort North showed a more favorable performance, with GGR rising by 33% year-on-year to PHP4.77 billion (US$80.8 million). This growth was particularly driven by a 54% increase in slot machine revenues, despite a slight decline in mass table gaming at the property.

Investments in Digital and Expansion Plans

Amid the financial challenges, Bloomberry remains committed to strengthening its digital presence and enhancing the guest experience at its resorts. The company continues to view its online gaming venture, MegaFUNalo, as a long-term growth opportunity, despite the regulatory uncertainty that has tempered its rollout. Additionally, Bloomberry’s future expansion plans remain on track, including the development of Solaire Resort North, which is expected to continue to drive growth as it attracts more domestic and international customers.

Bloomberry also plans to further refine its gaming operations by implementing cost-saving measures, particularly in light of the ongoing financial difficulties. In 2024, the company refinanced a PHP40 billion (US$677.94 million) loan, leading to lower borrowing costs and providing some relief amidst the challenging business environment.

In a strategic move, Bloomberry completed the sale of its underperforming Jeju Sun casino in South Korea as part of its broader effort to refocus on the Philippine market. The sale included the transfer of the gaming license and business operations to a new entity, with Bloomberry retaining ownership of the real estate. The decision to divest from Jeju Sun follows years of financial struggles with the property, with GGR dropping 61% in 2025, leading to an EBITDA loss of PHP153.8 million (US$2.6 million).

The company’s focus will now be on its flagship Solaire Resort properties in the Philippines. Bloomberry’s leadership, including Enrique Razon, remains confident that strategic enhancements to both Solaire resorts, along with continued investments in online gaming, will position the company for better performance in the coming years.