RAZON-LED Bloomberry Resorts Corp. posted a P1.7-billion net loss in the third quarter (Q3), widening from a P470.2-million loss a year earlier, driven by higher expenses from its MegaFUNalo! online platform and weaker international casino performance.
For the three months ended Sept. 30, gross gaming revenue (GGR) fell 10% to P14.6 billion, while consolidated net revenue dropped 8% to P12.7 billion from P13.8 billion a year ago, the company said in a disclosure on Wednesday.
Consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 53% to P1.9 billion, reflecting lower contributions from Solaire Resort Entertainment City and operating costs of P684.8 million for MegaFUNalo!
“The business environment in the third quarter mirrored that of the first half of 2025. Our consolidated EBITDA declined due to ongoing softness in international high roller activity and increased expenses from the rollout of our online gaming services,” Bloomberry Chairman and Chief Executive Officer Enrique K. Razon, Jr. said.
He noted that the domestic market remains strong, with Solaire North delivering solid revenue performance. “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.”
Non-gaming and other revenue jumped 21% to P3.3 billion from P2.8 billion on robust growth from Solaire Entertainment City and Solaire Resort North, as well as contributions from Jeju Sun Resort & Casino in South Korea. Contra-revenue accounts, representing 23% of consolidated GGR, decreased by 9% to P3.4 billion.
Bloomberry’s cash operating expenses rose 11% to P10.7 billion, driven by higher advertising and promotions, cost of sales, and outside services. Basic earnings per share (EPS) loss for the quarter stood at P0.165, compared with a P0.041 loss a year ago.
Solaire Resort Entertainment City saw total GGR fall 21% to P10 billion due to weaker volumes and lower VIP table win rates, while Solaire Resort North posted a 25% increase in GGR to P4.6 billion.
Jeju Sun Resort & Casino recorded a P3.8-million GGR, reversing last year’s P7.9-million loss. Last month, Bloomberry’s indirect subsidiary, Golden & Luxury Co., Ltd., signed a share purchase agreement to spin off and sell its casino business to Gangwon Blue Mountain Co., Ltd.
For the first nine months, Bloomberry’s consolidated net income plunged 95% to P160.1 million from P3.5 billion a year earlier. “Notable one-off items that impacted net income in the first nine months of 2025 were both related to the refinancing of the P40-billion Syndicated Loan Facility: 1) P175 million of GRT-related charges and 2) the P2.9 billion one-time, non-cash refinancing gain,” the company said.
Nine-month consolidated GGR edged up 0.4% to P45.7 billion, with combined revenue from mass table games and electronic gaming machines at Solaire Resort Entertainment City and Solaire Resort North rising 15%. Consolidated EBITDA fell 30.16% to P8.8 billion, mainly due to P1.2 billion in MegaFUNalo! operating expenses. Net revenue grew 3% to P39.7 billion, while non-gaming revenue jumped 29% to P9.5 billion.
Shares of Bloomberry closed at P3 on Wednesday, down 0.33% or one centavo. — Beatriz Marie D. Cruz
