Bloomberry swings to Q1 loss as gaming revenues decline

Bloomberry Resorts Corporation reported a net loss of PHP 125 million for Q1 2026, reversing a net income of PHP 3.31 billion from the same period last year, as total revenues fell 9% to PHP 13.06 billion due to weaker gaming revenues. Operating costs increased slightly, and higher finance costs contributed to the loss. The company is focusing on stabilising gaming volumes and expanding its digital platform amid a competitive and interest-rate-sensitive environment.

Key Points

Net loss of PHP 125m versus PHP 3.31bn profit a year ago

Gaming revenue down 13% year over year

Operating income more than halved as interest expense remained elevated

Bloomberry Resorts Corporation reported a net loss of PHP 125m for the first quarter of 2026, reversing net income of PHP 3.31bn in the same period last year, according to its quarterly filing .

Total revenues for the three months ended March 31 declined 9% year over year to PHP 13.06bn from PHP 14.29bn. The decrease was largely driven by weaker gaming revenues, which fell to PHP 9.86bn from PHP 11.39bn in the prior-year quarter.

Non-gaming segments delivered mixed results. Hotel, food and beverage revenues rose 25% to PHP 1.93bn, reflecting continued strength in occupancy and consumer spending at Solaire’s integrated resort properties. Retail and other revenues eased to PHP 1.27bn from PHP 1.36bn.

Operating costs and expenses increased slightly to PHP 12.01bn, resulting in operating income of PHP 1.05bn, down sharply from PHP 2.44bn a year earlier. Higher finance costs weighed heavily on bottom-line performance, with interest expense totaling PHP 1.78bn for the quarter.

As a result, loss before income tax reached PHP 124.3m compared with pre-tax income of PHP 3.31bn in the first quarter of 2025. Basic loss per share stood at PHP 0.012, versus earnings per share of PHP 0.315 a year earlier.

Bloomberry operates Solaire Resort Entertainment City in Parañaque and Solaire Resort North in Quezon City under a Philippine Amusement and Gaming Corporation license. The company has continued to push into digital gaming, soft-launching FUNaloMax in April following the earlier introduction of MegaFUNalo!, signaling a strategic shift toward expanding its online footprint to complement its land-based operations.

Despite the quarterly setback, Bloomberry generated PHP 2.21bn in net cash from operating activities during the period, highlighting the underlying cash-generating capacity of its core integrated resort business.

Management is expected to focus on stabilizing gaming volumes and leveraging its expanding digital platform as it navigates a more competitive and interest-rate-sensitive environment in 2026.