Bloomberry Q1 net falls to P125M as gaming revenues wane

Bloomberry's Gaming Revenues Wane Q1 Net Loss Hits P125M

Bloomberry Resorts Corp., led by Enrique Razon Jr., reported a net loss of 
P125 million in its first quarter financials for 2026. The company attribut
attributed the decline to weaker VIP and premium mass gaming volumes at its
its flagship Solaire Resort Entertainment City in Paranaque.

Gross Gaming Revenue Declines

The company's gross gaming revenue (GGR) dropped by 13% to P14.7 billion, d
down from P16.8 billion in the same period last year. Consolidated net reve
revenue fell by 9% to P13.1 billion, while earnings before interest, taxes,
taxes, depreciation, and amortization (EBITDA) declined by 32% to P3.0 bill
billion.

Softness in VIP and Premium Mass Segments

The decline in gaming revenues was attributed to continued softness in the 
VIP and premium mass segments, particularly at Entertainment City. The fir
first three months of 2026 reflected continued softness in the VIP and Prem
Premium Mass segments, particularly in Entertainment City, said Razon.

Cost Discipline Measures

However, Bloomberry's net loss was partly cushioned by interest expense sav
savings from previous debt refinancing activities and a gain from the sale 
of Jeju Sun's gaming license in South Korea. The company also noted that ca
cash operating expenses edged up 1% to P10.1 billion due to higher advertis
advertising, promotions, and outside services costs.

Operational Efficiencies

Despite the decline in gaming revenues, Bloomberry intensified cost discipl
discipline measures, leading to a 12% reduction in operating expenses. It 
is encouraging to see a sequential reduction and only a marginal year-over-
year-over-year increase in operating expenses as our cost discipline initia
initiatives begin to take effect, said Razon.

Looking Ahead

The company recognizes the evolving geopolitical situation in the Middle Ea
East, which is contributing to rising cost pressures across the operating e
environment. In response, Bloomberry will intensify its cost cutting effort
efforts to manage through the volatility. As of end-March, the company had 
cash and cash equivalents of P31.6 billion, while total long-term debt stoo
stood at P105.1 billion.

Conclusion

In conclusion, Bloomberry's Q1 financials reflect a challenging gaming envi
environment, with weaker VIP and premium mass gaming volumes impacting reve
revenue. However, the company's cost discipline measures have helped mitiga
mitigate the impact, and it is well-positioned to navigate the current mark
market conditions. With its strong balance sheet and commitment to operatio
operational efficiencies, Bloomberry is poised for a resurgence in 2026.

Keywords Bloomberry, Gaming Revenues, Q1 Financials, VIP, Premium Mass
Mass, Entertainment City, Cost Discipline Measures

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.