Philippines' Bloomberry Resorts Corp. announced its third-quarter financial report, with net losses widening to 1.7 billion pesos, mainly due to restrictions on e-wallet payment channels and regulatory uncertainties, slowing down the promotion of online gambling brands, but the local market, especially the newly opened resorts, performed strongly, with the group maintaining a robust cash reserve and planning to continue its digital transformation.
Financial Performance Decline
The group's third-quarter gambling total revenue fell 10% to 14.6 billion pesos, with earnings before interest, taxes, depreciation, and amortization plummeting 53% to 1.9 billion pesos, and net losses expanded from 470 million pesos in the same period last year to 1.7 billion pesos. The international VIP market continues to be sluggish, and the high costs of digital expansion compress profit margins.
Online Gambling Promotion Hindered
Since the Philippine Central Bank ordered the detachment of e-wallets from gambling websites in August, payment restrictions have severely impacted the online gambling ecosystem. The subsidiary brand "MegaFUNalo!" incurred operational expenses of 1.2 billion pesos in the first nine months, forcing a slowdown in promotional plans. Several peer companies reported similar revenue collapse dilemmas.
Local Market Shines
The newly opened Solaire North, driven by local demand, saw a 25% year-on-year increase in gambling revenue and a 58% surge in non-gambling business. In the first nine months before 2025, the group's overall gambling revenue slightly rose by 0.4% to 45.7 billion pesos, but net profits sharply decreased to 160 million pesos.
Future Plans and Outlook
As of the end of September, the company held a cash reserve of 29 billion pesos, with a stable asset-liability structure. Bloomberry stated that once the regulatory environment stabilizes, it will accelerate the expansion of online platforms and resort upgrades, continuing to invest in digital transformation.
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