Bloomberry Resorts grows to PHP 14.1 billion despite Q2 net loss

The Philippine casino landscape remains dynamic in the summer of 2026. Bloomberry Resorts Corp. has released its financial results for the second quarter, painting a picture of growth alongside operational challenges. Despite a significant rise in net revenue to 14.08 billion Philippine Pesos (PHP), the group is grappling with the financial aftermath of major investments and expansion steps. The 11 percent increase compared to the previous year illustrates the ongoing appeal of Solaire resorts but reflects only part of the economic reality.

Particularly striking is the discrepancy between revenue growth and the actual net result. While revenues are flowing, the company reported a loss of approximately 5.6 million USD for the quarter. This deficit primarily stems from increased operating costs and depreciation associated with the opening and operation of new locations and the modernization of existing areas. Nevertheless, the leadership remains optimistic as the mass market and electronic gaming machines (EGM) continue to record robust growth, forming the basis for future profits.

Numbers and facts

In detail, net revenue in the second quarter reached exactly 14.08 billion PHP. A look at the deeper segments shows that the Solaire Resort Entertainment City remains the most important pillar. Growth was generated here in the mass tables and slot machine segments, which partially compensated for declines in other more volatile segments such as the VIP business. Gross Gaming Revenue (GGR) at Solaire stood at approximately 13.3 billion PHP in the comparable period last year, highlighting the scale of the operational business.

A key factor for the current balance sheet is cost management. The company managed to limit the increase in cash operating expenses to 3 percent in the first half of the year. This is a crucial step toward restoring long-term profitability. Despite the quarterly loss, consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) rose, indicating healthy underlying operational substance.

"During the quarter, we saw the resilience of the Philippine gaming market as gaming volumes in our mass tables and EGM segments continued to expand on a sequential and year-over-year basis, despite the quarter's weaker-than-anticipated economic climate." - Enrique K. Razon Jr., Chairman and CEO of Bloomberry Resorts

Background

Bloomberry Resorts operates Solaire Resort Entertainment City, one of the most prestigious integrated resorts in Asia. Other properties include the Jeju Sun Hotel & Casino in South Korea and the newer Solaire Resort North. The expansion into northern Manila involved high investment costs that are currently still reflected in the balance sheet. The Philippine market benefits from strong domestic demand, while international tourism, particularly from China, has not yet returned to the levels of previous years. This forces operators to focus more heavily on local mass market segments.

Additionally, Bloomberry is increasing its focus on digital offerings. In July, the FUNaloMAX platform was launched to intensify the online casino experience. This diversification is a response to changing player behavior and the global trend toward iGaming, even though terrestrial business in integrated resorts continues to account for the lion's share of revenue.

Why it matters for German players

Developments at Bloomberry Resorts have no direct impact on the daily lives of German players but serve as an interesting point of comparison. While integrated mega-resorts with thousands of machines and hundreds of tables define the landscape in the Philippines, the German market is strictly regulated by the State Treaty on Gambling 2021 (GlüStV 2021). In Germany, there are strict stake limits of 1 Euro per spin on virtual slot machines and a monthly deposit limit of 1,000 Euro across all providers, monitored by the LUGAS system.

Players in Germany should ensure they play exclusively with providers listed on the official whitelist of the Joint Gambling Authority of the States (GGL). Asian providers like those under the Bloomberry flag do not hold a German license and are not permitted to legally offer their services here. Anyone wishing to play safely in Germany must look for the GGL license, which guarantees player protection and fairness. In contrast to the Philippines, where POGO licenses (Philippine Offshore Gaming Operators) have often faced criticism, the German system offers a much higher level of legal certainty for individuals through centralized supervision in Halle (Saale).

What it means for GGL-licensed casinos

Bloomberry's high revenue figures show the potential inherent in the mass market when conditions are right. However, German GGL-licensed casinos operate in a completely different environment. While Bloomberry speaks of market resilience, German providers struggle with the migration of players to the black market, as strict German rules are often perceived as restrictive. Nevertheless, the success of mass segments (EGM) in the Philippines shows that slots are the backbone of the industry. For German operators, this means that despite the 5-second rule and stake limits, an attractive portfolio of games remains crucial to compete against unlicensed competition from the Caribbean or Malta.