Bloomberry Resorts Corp., whose subsidiaries own and operate Solaire Resort Entertainment City (SEC), Solaire Resort North (SN), and Jeju Sun Hotel & Casino (Jeju Sun), announced its unaudited consolidated financial results for the second quarter and first half ended June 30, 2025.
The company’s performance for the period was defined by continued challenges in the VIP and premium mass segments at Solaire Entertainment City, which were partially offset by robust growth in mass gaming and non-gaming revenues at the newly opened Solaire Resort North.
Second Quarter 2025 Financial Highlights
For the second quarter of 2025, Bloomberry’s consolidated Gross Gaming Revenue (GGR) was P14.3 billion, a slight decrease of 1% from P14.5 billion in the same period last year. This was primarily due to weakness in the VIP and premium mass segments at SEC. Solaire Resort North, which opened in May 2024, contributed a strong P4.5 billion in GGR for the quarter.
Consolidated EBITDA for the quarter was P2.5 billion, a 30% decrease from P3.6 billion in the second quarter of 2024, mainly impacted by the softer gaming volumes at SEC and operating expenses of P461.0 million related to the new “MegaFUNalo!” online platform. As a result, the Company reported a consolidated net loss of P1.4 billion, compared to a net income of P1.3 billion in the same period last year.
First Half 2025 Financial Highlights
In the first half of 2025, consolidated GGR increased by 6% to P31.1 billion, driven largely by Solaire Resort North’s P9.1 billion contribution. However, consolidated net income for the first six months was P1.9 billion, a decline of 52% from P4.0 billion in the first half of 2024. This decrease was attributed to the persistent market softness at SEC and the impact of “MegaFUNalo!” operating expenses, which totaled P509.5 million for the period.
Management Commentary
Enrique K. Razon Jr., Bloomberry Chairman and CEO, commented, “It was a challenging second quarter for Bloomberry as softness persisted in Solaire Entertainment City’s VIP and premium mass segments. However, we are very encouraged by the performance of Solaire North, which saw further growth in mass gaming volumes and non-gaming revenue. The gains in our second property contributed to our overall Metro Manila mass gaming and non-gaming revenue, which rose 18% and 37% year-over-year, respectively. We also look forward to strengthening the competitiveness of our new online platform, ‘MegaFUNalo!’, by introducing more content and enhancements in the coming months.”
