Bloomberry Resorts Corporation (“Bloomberry”, “the Company”), whose subsidiaries own and operate Solaire Resort Entertainment City (SEC), Solaire Resort Quezon City (SQC), Jeju Sun Hotel & Casino (Jeju Sun), as well as the Solaire Online and FUNaloMax online gaming platforms, reported unaudited consolidated financial results for the three months and six months ended June 30, 2026.
Enrique K. Razon Jr., Bloomberry Chairman and CEO, commented, “We delivered GGR growth in the second-quarter, supported by stronger hold rates across our gaming operations. However, underlying demand in the VIP and premium mass segments remained soft. Assertive cost management complemented higher revenues, driving EBITDA growth both sequentially and year-over-year.”
“Our focus on operating efficiency continues to drive results. Despite a challenging macroeconomic environment characterized by elevated oil prices, higher interest rates, and weaker peso, we limited cash operating expense growth to just 5% and 3% for the quarter and the first half, respectively, underscoring the effectiveness of our cost optimization initiatives.”
“Looking ahead, we remain focused on disciplined execution. Alongside continued cost optimization, we are advancing our digital strategy with the recent commercial launch of FUNaloMax on our proprietary platform which will be joined by Solaire Online on the same platform in the coming weeks. We anticipate that these initiatives will enhance the patron experience and position Bloomberry to capture incremental revenue growth in the quarters ahead.”
Consolidated Results
Bloomberry’s Gross Gaming Revenue (GGR) was P16.4 billion, representing an increase of 15% from P14.3 billion in the second quarter of 2025. Higher hold rates across all gaming segments lifted GGR; however, the VIP and premium mass segments continued to experience weakness. In the first six months of 2026, consolidated GGR was P31.1 billion, unchanged from the same period last year.
Contra-revenue accounts in the second quarter increased by 23% year-over-year to P3.7 billion. This represents 23% of consolidated GGR, compared to 21% in the same quarter last year.
Non-gaming revenue was P3.2 billion for the quarter, unchanged from the same quarter last year. In the first half of 2026, non-gaming revenue was P6.4 billion, higher by 4% year-over-year.
Net revenue in the second quarter was P14.1 billion, representing an increase of 11% from P12.7 billion in the same period last year. Net revenue was higher by 1% in the first six months to P27.2 billion.
Cash operating expenses in the second quarter reached P10.7 billion, higher by only 5% compared to P10.2 billion in the same quarter last year. Cash operating expenses remained under control, with majority of the increase explained by higher taxes and licenses, salaries and benefits, and software and hardware maintenance costs. The increases were tempered by savings generated mostly in cost of sales. Cash operating expenses in the first half of 2026 increased by 3% to P20.8 billion. The Company made no provisions for bad debt in the second quarter.
Bloomberry continues to benefit from its previous loan refinancing activities. Interest expense in the second quarter and first half of 2026 was P1.9 billion and P3.6 billion, reflecting savings of P51.4 million and P409.5 million from the second quarter of 2025 and the first six months of 2025, respectively.
For the quarter, the Company recorded consolidated EBITDA of P3.4 billion, representing an increase of 35% from P2.5 billion in the same quarter last year. In the first half of 2026, Bloomberry’s EBITDA was P6.4 billion, lower by 7% year-over-year.
Bloomberry reported a net loss of P345.3 million for the quarter which compares to net loss of P1.4 billion in the same period last year. Net loss in the first six months was P470.3 million which compares to net income of P1.9 billion in the first half of 2025. Notable one-off items that impacted the bottom line include 1) a P403.0 million gain in the first quarter of 2026 relating to the sale of the Jeju Sun gaming license through a demerger and share purchase arrangement, and 2) a P2.9 billion one-time, non-cash gain recognized in the first quarter of 2025 from the refinancing of the P40 billion Syndicated Loan Facility.
In the second quarter of 2026, the Company reported Basic Earnings per Share (EPS) loss of P0.032, which compares to a loss of P0.134 in the same quarter last year. EPS loss in the first half of 2026 was P0.044, which compares to an EPS gain of P0.181 reported in the first half of 2025.
Solaire Resort Entertainment City (SEC)
For the second quarter, total GGR at SEC was P11.5 billion, representing an increase of 18% from P9.8 billion in the second quarter of 2025.
VIP rolling chip volume was P71.3 billion, representing a year-over-year increase of 12%. The VIP hold rate was 3.61% against 2.23% in the second quarter of 2025. VIP GGR was P2.6 billion, rising by 81% from P1.4 billion in the same quarter last year.
Mass table drop was P7.6 billion, representing a year-over-year decline of 4%. The mass table hold rate was 55.3%, compared to 49.2% in the same period last year. Mass table GGR was P4.2 billion, higher by 8% compared to P3.9 billion in the second quarter of 2025.
EGM coin-in was P71.6 billion, recording a 12% year-on-year decrease. The EGM hold rate was 6.6% compared to 5.5% in the second quarter of 2025. EGM GGR was P4.7 billion, higher by 6% compared to P4.5 billion in the same quarter last year.
Non-gaming revenue was P2.0 billion, down 6% from P2.1 billion in the same quarter last year. Net revenue was P9.2 billion, higher by 12% from P8.2 billion in the second quarter of 2025.
SEC generated EBITDA of P2.4 billion which was 40% higher than the P1.7 billion reported in the same quarter of last year.
Solaire Resort Quezon City (SQC)
SQC generated GGR of P4.9 billion, reflecting a 9% increase from the same period last year.
VIP rolling chip volume was P8.6 billion which compares to P4.3 billion in the same period last year. The VIP hold rate was 5.38% against 4.86% in the second quarter of 2025. VIP GGR was P460.0 million, increasing by 122% from P207.3 million in the same quarter last year.
Mass table drop was P5.4 billion, representing a year-over-year decrease of 23%. The mass table hold rate was 33.0%, which compares to 26.7% in the same period last year. Mass table GGR was P1.8 billion, lower by 5% compared to P1.9 billion in the second quarter of 2025.
EGM coin-in was P42.9 billion, recording a 7% year-on-year increase. The EGM hold rate was 6.2% compared to 6.1% in the second quarter of 2025. EGM GGR was P2.7 billion, higher by 9% compared to P2.4 billion in the same quarter last year.
Non-gaming revenue was P1.1 billion, up 9% from P1.0 billion in the same quarter last year. Net revenue was P4.7 billion, rising by 8% from P4.3 billion in the second quarter of 2025.
SQC generated EBITDA of P1.3 billion, higher by 19% compared to P1.1 billion in the second quarter of 2025.
Jeju Sun Resort & Casino (Jeju Sun)
Solaire Korea’s Jeju Sun recorded net revenue of P159.2 million, up 24% from P128.3 million in the same quarter last year.
Jeju Sun generated EBITDA of P2.8 million which was a reversal from LBITDA of P41.4 million in the second quarter of 2025. This is the first full quarter after the property exited the casino business and the first time the property reported EBITDA since Bloomberry acquired the property in 2015.
Balance Sheet and Other Items
As of June 30, 2026, Bloomberry had a consolidated cash and cash equivalents balance of P31.4 billion. Total outstanding long-term debt was P104.8 billion, which represents the balance of the current and non-current portions of the P72.0 billion and P40.0 billion Syndicated Refinancing Facilities. Total equity attributable to equity holders of the parent company was P59.0 billion.
Bloomberry had P1.3 billion in net receivables as of June 30, 2026, lower by P5.6 million from the beginning of the year. Total allowances cover 80% of all receivables over 90 days.