Bloomberry Swings to FY2025 Loss as VIP Decline Cuts Margins

Group gross gaming revenue edged down to about PHP59.8 billion ($1.02 billion), but the bigger hit came at the margin level. EBITDA dropped much faster, showing how sensitive the model still is to VIP and premium mass activity.

At Solaire Entertainment City, the core property, premium segments slowed noticeably. That decline carried more weight than expected, even as Solaire North continued to build momentum and bring in additional revenue.

Bloomberry increased spending on its online product, MegaFUNalo. The rollout added close to PHP2 billion in operating costs during the year. The move targets future growth, but it reduced short-term profitability.

Market conditions added pressure, with fewer inbound tourists and tighter controls on offshore activity changing demand patterns and making play less predictable. Even so, revenue stayed relatively stable and the company continued to expand, with a clear shift in strategy toward reducing reliance on VIP play and building other revenue streams, even if that continues to weigh on results in the short term.

For operators, this shift is less about revenue growth and more about stability. VIP play can move results quickly, but it is harder to predict and maintain. By building mass and online channels, operators can spread risk across a broader base of players, even if margins are lower in the short term.

TGJ Take

This is less about one bad year and more about a structural shift. VIP-driven models are no longer as dependable as they used to be. Bloomberry is already adjusting, but the transition comes with a cost. Operators in similar markets face the same choice: invest now or risk falling behind. For affiliates and suppliers, the message is just as clear – premium traffic is losing weight, while mass and digital channels are starting to take over.