Bloomberry’s Reports P125 Million Net Loss in 1Q2026; Cost Discipline Drives Sequential Expense Reduction, Limits YoY Increase

1Q2026 HIGHLIGHTS:

• Bloomberry’s Gross Gaming Revenue (GGR) was P14.7 billion, representing a decrease of 13% from P16.8 billion in the first quarter of 2025. The decline was primarily due to lower GGR contributed by Solaire Resort Entertainment City (SEC), as the VIP and Premium Mass segments remain subdued.
• Consolidated cash operating expenses for the period reached P10.1 billion, higher by 1% compared to P10.0 billion in the same quarter last year. On a sequential basis, cash operating expenses declined by 12%, reflecting the company’s continued focus on cost discipline.
• Consolidated non-gaming & other revenue increased by 21% to P12.9 billion from P10.7 billion in 2024
• Consolidated EBITDA was P3.0 billion, representing a decrease of 32% from P4.4 billion in the same quarter last year.
• Bloomberry reported a net loss of P125.0 million during the quarter, which compares to net income of 3.3 billion in the first quarter of 2025. Offsetting the weakness in the bottom line was P358.1 million of interest expense savings derived from previous debt refinancing activities. One-off items that impacted the bottom line include 1) a P403.0 million gain in the first quarter of 2026 relating to the sale of the Jeju Sun gaming license, and 2) a P2.9 billion one-time, non-cash gain recognized in the first quarter of 2025 from the refinancing of the P40 billion Syndicated Loan Facility.

Bloomberry Resorts Corporation (“Bloomberry”, “the Company”), whose subsidiaries own and operate Solaire Resort Entertainment City (SEC), Solaire Resort North (SN), Jeju Sun Hotel & Casino (Jeju Sun), as well as the Solaire Online and FUNaloMax online gaming platforms, reported unaudited consolidated financial results for the three months ended March 31, 2026.

Enrique K. Razon Jr., Bloomberry Chairman and CEO, commented, “The first three months of 2026 reflected continued softness in the VIP and Premium Mass segments, particularly in Entertainment City. We reported a net loss of P125 million, which was meaningfully lower than quarterly losses reported in the previous three periods.”

“For the quarter, we continued to reap benefits from our previous debt refinancing activities which yielded P358 million in interest expense savings. Meanwhile in South Korea, we exited the casino business in March after substantially completing a demerger and share purchase agreement with a South Korean buyer. We realized a P403 million gain through this transaction that softened our losses for the quarter.”

“It is encouraging to see a sequential reduction and only a marginal year-over-year increase in operating expenses as our cost discipline initiatives begin to take effect. We recognize that the evolving geopolitical situation in the Middle East is contributing to rising cost pressures across the operating environment; in response, we will intensify our cost cutting efforts to manage through the volatility.”

Consolidated Results

Bloomberry’s Gross Gaming Revenue (GGR) was P14.7 billion, representing a decrease of 13% from P16.8 billion in the first quarter of 2025. The decline was primarily due to lower GGR contributed by Solaire Resort Entertainment City (SEC), as the VIP and Premium Mass segments remain subdued.

Contra-revenue accounts in the first quarter decreased by 18% year-over-year to P3.0 billion. This represents 21% of consolidated GGR, which compares to 22% in the same period last year.

Non-gaming revenue was P3.2 billion, representing an increase of 9% from P3.0 billion generated in the first quarter of 2025.

Net revenue was P13.1 billion, representing a decrease of 9% from P14.4 billion in the same period last year.

Net revenue in 2025 was P52.5 billion, representing a decrease of 1% from P53.1 billion in the previous year. Net revenue declined by 12% in the fourth quarter to P12.8 billion.

Cash operating expenses for the period reached P10.1 billion, higher by 1% compared to P10.0 billion in the same quarter last year. Cash operating expenses increased due to higher advertising and promotions and outside services and charges. On a sequential basis, cash operating expenses declined by 12%, reflecting the company’s focus on cost discipline. The Company made no provisions for bad debt in the first quarter.

For the quarter, the Group recorded consolidated EBITDA of P3.0 billion, representing a decrease of 32% from P4.4 billion in the same quarter last year.

Bloomberry recorded a net loss of P125.0 million during the quarter, which compares to net income of 3.3 billion in the first quarter of 2025. Offsetting the weakness in the bottom line was P358.1 million of interest expense savings derived from previous debt refinancing activities. One-off items that impacted the bottom line include 1) a P403.0 million gain in the first quarter of 2026 relating to the sale of the Jeju Sun gaming license through a demerger and share purchase arrangement, and 2) a P2.9 billion one-time, non-cash gain recognized in the first quarter of 2025 from the refinancing of the P40 billion Syndicated Loan Facility.

The Company reported Basic Earnings per Share (EPS) loss of P0.012, which compares to a gain of P0.315 in the same quarter last year.

Solaire Resort Entertainment City (SEC)

In the first quarter, total GGR at SEC was P10.0 billion, representing a decline of 18% from P12.1 billion in the first quarter of 2025. GGR was negatively impacted by lower volumes across all gaming segments.

VIP rolling chip volume was P53.2 billion, representing a year-over-year decline of 39%. The VIP hold rate was 3.73% against 3.19% in the first quarter of 2025. VIP GGR was P2.0 billion, declining by 29% from P2.8 billion in the same quarter last year.

Mass table drop was P7.9 billion, representing a year-over-year decline of 8%. The mass table hold rate was 49.5%, which compares to 57.6% in the same period last year. Mass table GGR was P3.9 billion, lower by 21% compared to P4.9 billion in the first quarter of 2025.

EGM coin-in was P68.9 billion, recording a 22% year-on-year decrease. The EGM hold rate was 5.9% compared to 5.1% in the first quarter of 2025. EGM GGR was P4.1 billion, declining by 8% from P4.4 billion in the same quarter last year.

Non-gaming revenue was P2.0 billion, higher by 3% compared to P1.9 billion in the first quarter of last year. Net revenue was P8.4 billion, lower by 16% compared to P10.0 billion in the same period in 2025.

SEC generated EBITDA of P1.9 billion which declined by 44% from P3.4 billion in the same quarter last year.

Solaire Resort North (SN)

SN generated GGR of P4.7 billion, reflecting a 1% increase from the same period last year.

VIP rolling chip volume was P5.1 billion which compares to P8.9 billion in the same period last year. The VIP hold rate was 1.54% against 5.32% in the first quarter of 2025. VIP GGR was P77.5 million, declining by 84% from P472.0 million in the same quarter last year.

Mass table drop was P5.6 billion, representing a year-over-year decrease of 13%. The mass table hold rate was 35.2%, which compares to 30.5% in the same period last year. Mass table GGR was P2.0 billion, higher by 1% from P2.0 billion in the first quarter of 2025.

EGM coin-in was P43.9 billion, recording a 19% year-on-year increase. The EGM hold rate was 6.0% compared to 5.9% in the first quarter of 2025. EGM GGR was P2.6 billion, higher by 20% compared to P2.2 billion in the same quarter last year.

Non-gaming revenue was P1.1 billion, up 19% from P913.7 million in the same quarter last year. Net revenue was P4.5 billion, rising by 7% from P4.3 billion in the first quarter of 2025.

SN generated EBITDA of P1.2 billion, higher by 9% compared to P1.1 billion in the first quarter of 2025.

Jeju Sun Resort & Casino (Jeju Sun)

Solaire Korea’s Jeju Sun exited the casino business in the first quarter of 2026.

Non-gaming revenue was P121.9 million, up by 32% from P92.5 million in the first quarter of 2025.

Jeju Sun generated LBITDA of P33.9 million which compares to LBITDA P59.8 million recorded in the first quarter of 2025.

Balance Sheet and Other Items

As of March 31, 2026, Bloomberry had a consolidated cash and cash equivalents balance of P31.6 billion. Short-term debt was P5.5 billion. Total outstanding long-term debt was P105.1 billion, which represents the balance of the current and non-current portions of the P72.0 billion and P40 billion Syndicated Refinancing Facilities. Total equity attributable to equity holders of the parent company was P59.3 billion.

Bloomberry had P1.5 billion in net receivables as of March 31, 2026, higher by P234.9 million from the beginning of the year. Total allowances cover approximately 98% of all receivables over 90 days.

About Bloomberry Resorts Corporation

Listed on the Philippine Stock Exchange (PSE: BLOOM), Bloomberry Resorts Corporation is a leader in developing world-class destinations, comprising luxurious accommodations, premier gaming facilities, and exceptional dining options. The company’s portfolio includes Solaire Resort Entertainment City and Solaire Resort North in the Philippines, and Jeju Sun Hotel & Casino in South Korea.

Beyond its resorts, Bloomberry offers trusted, high-quality digital experiences through Solaire Online and the newly launched MegaFUNalo! online gaming entertainment platforms.

For further details, please visit www.bloomberry.ph and www.solaireresort.com. For Bloomberry’s digital gaming offerings, visit www.solaireonline.com and www.funalomax.com.

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