The Market Monitor Minding the Nation's Business
Challenging operating environment, online and other costs pull down Bloomberry’s income to P160 million.
Enrique K. Razon Jr., Bloomberry Chairman and CEO, reported, “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. However, the local market remained strong as evidenced by revenue performance at Solaire North, which focuses on the domestic mass market, with gaming and resort revenues rising by 25% and 58% year-over-year, respectively.”
“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,” added Razon Jr.
Q3 Highlights
Bloomberry’s Gross Gaming Revenue reached P14.6 billion, representing a decrease of 10% from P16.3 billion in the third quarter of 2024. Weakness in the VIP and premium mass segments persisted through the third quarter.
Consolidated non-gaming & other revenue increased by 21% to P3.3 billion from P2.8billion on robust growth from Solaire Entertainment City (SEC), Solaire North (SN), and a modest contribution from Jeju Sun.
Consolidated net revenue was P12.7 billion, representing a decrease of 8% from P13.8billion in the same period last year.
Consolidated EBITDA was P1.9 billion, lower by 53% compared to P4.1 billion in the third quarter of 2024. The decline was mostly due to a lower contribution from SEC which was impacted by softer gaming volumes as well as MegaFUNalo! operating expenses amounting to P684.8 million.
Consolidated net loss was P1.7 billion, compared with net loss of P470.2 million in the same period last year.
9-month highlights
Consolidated GGR was P45.7 billion, representing an increase of 0.4% from P45.5billion in the first nine months of 2024. SEC recorded GGR of P31.9 billion, compared to P40.6billion in the same period last year. SN generated GGR of P13.8 billion in the first nine months, compared to P4.8 billion covering the May 25 to September 30, 2024 period.
Consolidated net revenue was P39.7 billion, representing an increase of 3% against P38.5billion in the same period last year.
Consolidated EBITDA was P8.8 billion, compared with P12.6 billion in the first ninemonths of the previous year. EBITDA was impacted by P1.2 billion of “MegaFUNalo!” operating expenses.
Consolidated net income was P160.1 million, compared with P3.5 billion reported in the first nine months of 2024.