Philippine casino operator Bloomberry Resorts Corporation's 2025 performance was severely dragged down by a weak tourism sector and an offshore gaming ban, with significant declines in the VIP and high-end midfield markets, leading to a net loss of 2.64 billion pesos (approximately 44.74 million USD). The group's total GGR decreased by 3.1% to 59.79 billion pesos, and EBITDA plummeted by 38.7% to 7.08 billion pesos. In plain terms, the decrease in high-end players, coupled with the online ban, directly pulled the company from profit into loss.
Annual performance: From profit to loss, significant impact of one-time items
In 2025, the group recorded a net loss of 2.64 billion pesos, compared to a profit of 2.58 billion pesos in 2024. The financial report mentioned several one-time items affecting net income: a gross income tax of 706 million pesos from a 72 billion peso loan in the fourth quarter, another gross income tax of 175 million pesos, a one-time non-cash refinancing gain of 2.9 billion pesos from a 40 billion peso loan in the first quarter, and an investment impairment of 383 million pesos. Cash operating expenses grew by 16% to 42.3 billion pesos, mainly due to the full-year operation of Solaire Resort North and the cost input of the online platform MegaFUnalo launched in mid-2025. CEO Enrique Razon stated that 2025 was a challenging year, with inbound tourism weakness and residual effects of the POGO ban dragging down VIP and high-end midfield revenue, and online regulatory uncertainties also delaying the promotion of new digital platforms.
Disastrous fourth quarter: SEC hit hard
The fourth quarter performance was particularly severe, with the group recording a loss of 2.8 billion pesos, far exceeding the loss of 920 million pesos in the same period of 2024. GGR decreased by 12.8%, and EBITDA plummeted by 66.5%. Solaire Resort Entertainment City was the main drag, with GGR decreasing by 26% to 9.33 billion pesos, among which VIP GGR plummeted by 67% to 1.19 billion pesos, VIP turnover decreased by 50%, and the win rate was only 2.33%. Midfield table base decreased by 12%, table game GGR decreased by 9%, and slot machine revenue also decreased by 9%. Solaire Resort North partially offset the decline of SEC, with GGR increasing by 33% to 4.77 billion pesos, slot machine revenue significantly increased by 54%, and midfield table game GGR increased by 15%.
Future outlook: Cost control and online layout in parallel
Facing the weak revenue in 2025, Bloomberry has implemented cost management and upgrades of the two Solaire properties, and debt refinancing in October 2024 and February 2025 also brought cost savings for loans. Razon expects these measures to yield further benefits in 2026. In terms of the online segment, the company maintains long-term confidence, awaiting further regulatory clarification, and continuously strengthening the competitiveness and user experience of digital platforms. Want to know the latest financial report dynamics of Asian casino operators? PASA official website keeps track.
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