Philippine gaming giant Enrique "Ricky" Razon Jr. is heavily investing in Bloomberry Resorts' newly launched online gaming platform MegaFUNalo!, to drive future growth and alleviate the pressure from the weak performance of Solaire Resort in the second quarter.
MegaFUNalo was launched in June 2025, and Razon stated that the platform is ready for rapid expansion and will introduce more gaming content and feature enhancements in the coming months to enhance competitiveness. Despite the calls for bans in the online gaming industry, Bloomberg remains optimistic about its profit potential.
Solaire's profit for the first half of the year was 1.9 billion pesos, a significant decline from 4 billion pesos in the same period last year, mainly due to the weakness in VIP and high-end mass gaming. The group's total gaming revenue grew by 6%, reaching 31.1 billion pesos, of which Solaire North contributed 9.1 billion pesos since its opening in May 2024. However, Solaire Resort's total gaming revenue dropped from 28.1 billion pesos to 21.9 billion pesos, and earnings before interest, taxes, depreciation, and amortization (EBITDA) also fell from 8.6 billion pesos to 6.9 billion pesos, with MegaFUNalo operating costs at 509.5 million pesos.
Razon noted that the growth in mass gaming and non-gaming revenues at Solaire North has driven an overall 18% year-over-year increase in gaming revenues in Metro Manila, with non-gaming revenues growing by 37%, showing that new projects provide stable support for the group.
By doubling down on MegaFUNalo, Razon hopes the online platform can become a new growth engine to compensate for the profit fluctuations of traditional resorts, while solidifying Bloomberry's competitive position in the Philippine gaming market.
