Bloomberry Resorts Corporation, the premier developer and operator of integrated resorts in the Philippines, reported its unaudited consolidated financial results for the first quarter ended March 31, 2026.
Despite a challenging macroeconomic backdrop and continued softness in high-end gaming segments, Bloomberry demonstrated operational resilience, reporting a significantly narrowed net loss and the successful execution of strategic portfolio adjustments.
-
Net Revenue: P13.1 billion (down 9% YoY)
-
Gross Gaming Revenue (GGR): P14.7 billion (down 13% YoY)
-
Consolidated EBITDA: P3.0 billion (down 32% YoY)
-
Net Loss: P125 million (compared to a P3.3 billion gain in Q1 2025, which was buoyed by one-time refinancing gains)
-
Cash Operating Expenses: Sequentially decreased by 12% to P10.1 billion
“The first three months of 2026 reflected continued softness in the VIP and Premium Mass segments, particularly in Entertainment City,” said Enrique K. Razon Jr., Bloomberry Chairman and CEO. “However, our net loss of P125 million is a meaningful improvement over the losses reported in the previous three periods, signaling a positive trajectory.”
“We are seeing the results of our proactive financial management,” Razon continued. “Our debt refinancing yielded P358 million in interest savings this quarter, and our exit from the South Korean casino market provided a P403 million gain. As geopolitical volatility in the Middle East pressures global costs, we will intensify our cost-cutting efforts to maintain our competitive edge.”
Solaire Resort Entertainment City (SEC) The flagship property reported a GGR of P10.0 billion, an 18% decline year-over-year. The downturn was felt across all segments:
-
VIP GGR: P2.0 billion (down 29%)
-
Mass Table GGR: P3.9 billion (down 21%)
-
EGM GGR: P4.1 billion (down 8%) While gaming saw headwinds, non-gaming revenue grew by 3%, reaching P2.0 billion.
Solaire Resort North (SN) Solaire North showed resilience, with GGR slightly increasing by 1% to P4.7 billion. While VIP volumes softened, Electronic Gaming Machines (EGM) performed strongly:
-
EGM GGR: P2.6 billion (up 20% YoY)
-
Non-Gaming Revenue: P1.1 billion (up 19% YoY)
-
EBITDA: P1.2 billion (up 9% YoY)
Jeju Sun Hotel & Casino (South Korea) In a strategic move to focus on domestic operations, Bloomberry exited the South Korean casino business in March 2026. The completion of a demerger and share purchase agreement resulted in a P403 million gain for the Company.
Bloomberry maintains a robust liquidity position to navigate current market volatility:
-
Cash and Cash Equivalents: P31.6 billion
-
Total Equity: P59.3 billion (attributable to parent company holders)
-
Cost Discipline: The Company reported a 12% sequential decline in cash operating expenses and made zero provisions for bad debt during the quarter.
