Bloomberry Resorts Corporation, the company that owns and operates Solaire Resort Entertainment City and Solaire Resort North in the Philippines, announced its financial results for the first three months of 2026. According to their official disclosure to the Philippine Stock Exchange, the company reported a net loss of P125 million for the quarter.
What Does Bloomberry Do?
Think of Bloomberry as the company that runs big casino-resorts where people stay in hotels, play games, eat at restaurants, and watch shows. Their main properties are Solaire Resort Entertainment City (located in Entertainment City, Parañaque) and Solaire Resort North. They also run online gaming platforms called Solaire Online and FUNaloMax. The company’s stock is traded on the Philippine Stock Exchange under the ticker symbol “BLOOM.”
Why Did They Lose Money?
Company Chairman and CEO Enrique K. Razon Jr. explained that they’re seeing fewer high-spending customers (called VIP and Premium Mass segments) coming to their Entertainment City property. In simpler terms, the really big spenders who usually gamble large amounts of money aren’t coming as much as before.
The company’s Gross Gaming Revenue (GGR) – which is the total amount of money people spent on gambling – was P14.7 billion for the quarter. This is 13% less than the P16.8 billion they made during the same time last year.
Some Good News Though
Despite the loss, there were some positive points:
- Smaller losses than before: The P125 million loss was actually much better than the losses they reported in the previous three quarters.
- Saving money on loans: Bloomberry saved P358 million in interest payments because they refinanced (basically got better deals on) their loans earlier.
- Selling their Korea business: The company sold its casino business in South Korea (Jeju Sun Hotel & Casino) in March 2026, which gave them a one-time gain of P403 million.
- Controlling costs: Their operating expenses only increased by 1% compared to last year (from P10.0 billion to P10.1 billion), showing they’re being careful with spending. Compared to the previous quarter, expenses actually went down by 12%.
How Each Property Performed
Solaire Resort Entertainment City (The Bigger Property)
This property had a tougher time. Its gaming revenue dropped 18% to P10.0 billion from P12.1 billion last year. All gaming segments – VIP tables, regular tables, and electronic gaming machines – saw fewer customers. The property generated P1.9 billion in EBITDA (a measure of operating profit), which was 44% lower than last year’s P3.4 billion.
Solaire Resort North (The Newer Property)
This property did better! Its gaming revenue slightly increased by 1% to P4.7 billion. While VIP gaming dropped significantly, regular tables stayed flat and electronic gaming machines did really well, growing 20% to P2.6 billion. The property generated P1.2 billion in EBITDA, which was 9% higher than last year.
Company’s Financial Position
As of March 31, 2026, Bloomberry had:
- Cash of P31.6 billion
- Short-term debt of P5.5 billion
- Long-term debt of P105.1 billion
- Total equity of P59.3 billion
- The company has 11,496,152,207 shares outstanding
The company reported a basic loss per share of P0.012, compared to earnings of P0.315 per share during the same period last year.
What’s Affecting the Business?
According to CEO Razon, the situation in the Middle East is causing costs to rise across their operations. In response, the company plans to cut costs even more to handle these challenging conditions.
This information comes from Bloomberry’s official disclosure filed with the Securities and Exchange Commission and the Philippine Stock Exchange on May 15, 2026.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
