The accounting revaluation of that refinancing added P2.9 billion to profit. Without this, earnings were down 83 percent to P445.8 million.
Management's view
“In the first quarter of 2025, Bloomberry’s gross gaming revenue (GGR) expanded by 14 percent year-over-year. GGR generated by the mass tables and electronic gaming machines segments across both our Metro Manila properties grew by 29 percent, powered by a resilient domestic mass market player base," said Razon, the chair and CEO of Bloomberry.
“Solaire North continued to gain ground as GGR across the board increased by 29 percent sequentially, resulting in a P1.1 billion contribution to consolidated Ebitda. However, Solaire Entertainment City’s year-over-year results were impacted by softness in gaming volumes arising from slow VIP play and the POGO ban," he said.
Online games relaunch on track
“We are fully committed to pushing the performance of both of our resort businesses and Solaire Online even as we are focused on ramping our new online product which will be launching in the coming weeks," he added.
Revenue growth
Gross gaming revenue rose 14 percent to P16.8 billion, driven by a 29 percent surge in mass market play and the ongoing ramp-up of Solaire Resort North.
Total net revenue climbed 15 percent to P14.4 billion, while non-gaming revenue—from hotels, dining, and retail—jumped 35 percent to P3 billion.
Operating costs rose 32 percent to P10 billion, as Solaire North’s full operations were reflected for the first time.
Earnings before interest, taxes, depreciation, and amortization (ebitda) declined 11 percent to P4.4 billion, and would have dropped 15 percent excluding previous pre-opening costs.
