Bloomberry Posts Q1 Loss as VIP Gaming Softens

Dr. Annelies De Vos · 2026-05-15

Bloomberry Resorts Corporation, the company behind Solaire Resort Entertainment City and Solaire Resort North in the Philippines, reported a net loss of about $2.2 million (Php125 million) in the first quarter of 2026. That's a sharp turnaround from the $58 million (Php3.3 billion) profit they posted in the same period last year. The main culprit? A slowdown in high-stakes VIP and premium mass gaming at their flagship Entertainment City property. CEO Enrique K. Razon Jr. said the first three months were tough, partly because last year's numbers included one-time gains from refinancing. Without those boosts, the company felt the full weight of weaker demand from big spenders. It's a reminder that even the biggest operators can't escape market shifts. ### What's Behind the Drop? The decline isn't just about luck at the tables. Several factors played a role: - **VIP gaming slump**: High rollers, especially from overseas, pulled back on spending. This segment is notoriously volatile, and Bloomberry felt the pinch. - **Premium mass softness**: Even mid-tier players, who typically spend more than casual gamblers, were less active. This suggests broader economic pressures or shifting preferences. - **No refinancing gains**: In 2025, Bloomberry benefited from a one-time boost when they restructured debt. That didn't repeat in 2026, so the comparison looks worse than it might otherwise. Razon didn't sugarcoat it. "The first three months were challenging," he said, pointing to the need for fresh strategies to reignite growth.  ### A Broader Look at the Market Bloomberry's struggles aren't happening in a vacuum. Across Asia, casino operators are dealing with a post-pandemic hangover. Travel patterns have changed, and some high rollers are staying closer to home. Plus, competition is heating up in places like Japan and Vietnam, which are trying to attract the same wealthy gamblers. For Bloomberry, the key is diversification. They've been pushing non-gaming amenities—hotels, restaurants, and shows—to draw a wider crowd. But those investments take time to pay off. ### What's Next for Bloomberry? The company isn't sitting still. They're looking at ways to cut costs without hurting the guest experience. They're also doubling down on marketing to local players, who tend to be more reliable than fickle VIPs. Razon hinted at new initiatives, but didn't spill details. Industry watchers expect them to lean into digital tools and loyalty programs to keep regulars coming back. ### Bottom Line Bloomberry's Q1 loss is a wake-up call. It shows how dependent the company still is on big spenders, and how quickly fortunes can flip. But with a strong brand and a prime location in Manila's Entertainment City, they have the foundation to bounce back. For now, investors are watching closely. If the next quarter doesn't show improvement, expect more tough questions for management.