Challenging operating environment, online and other costs pull Bloomberry’s 9M25 income down to P160 million

3Q2025 HIGHLIGHTS:

• Bloomberry’s Gross Gaming Revenue (GGR) was P14.6 billion, representing a decrease of 10% from P16.3 billion in the third quarter of 2024. Weakness in the VIP and premium mass segments persisted through the third quarter.
• Consolidated non-gaming & other revenue increased by 21% to P3.3 billion from P2.8 billion on robust contributions from Solaire Entertainment City (SEC), Solaire North (SN), and a modest contribution from Jeju Sun.
• Consolidated net revenue was P12.7 billion, representing a decrease of 8% from P13.8 billion in the same period last year.
• Consolidated EBITDA was P1.9 billion, lower by 53% compared to P4.1 billion in the third quarter of 2024. The decline was mostly due to a lower contribution from SEC which was impacted by softer gaming volumes as well as MegaFUNalo! operating expenses amounting to P684.8 million.
• Consolidated net loss was P1.7 billion, compared with net loss of P470.2 million in the same period last year.

NINE MONTHS 2025 HIGHLIGHTS:

• Consolidated GGR was P45.7 billion, representing an increase of 0.4% from P45.5 billion in the first nine months of 2024. SEC recorded GGR of P31.9 billion, compared to P40.6 billion in the same period last year. SN generated GGR of P13.8 billion in the first nine months, compared to P4.8 billion covering the May 25 to September 30, 2024 period.
• Consolidated net revenue was P39.7 billion, representing an increase of 3% against P38.5 billion in the same period last year.
• Consolidated EBITDA was P8.8 billion, compared with P12.6 billion in the first nine months of the previous year. EBITDA was impacted by P1.2 billion of “MegaFUNalo!” operating expenses.
• Consolidated net income was P160.1 million, compared with P3.5 billion reported in the first nine months of 2024.

Bloomberry Resorts Corporation (“Bloomberry”, “the Company”), whose subsidiaries own and operate Solaire Resort Entertainment City (SEC), Solaire Resort North (SN), and Jeju Sun Hotel & Casino (Jeju Sun), reported unaudited consolidated financial results for the three months and nine months ended September 30, 2025.

Enrique K. Razon Jr., Bloomberry Chairman and CEO, commented, “The business environment in the third quarter mirrored that of the first half of 2025. Our consolidated EBITDA declined due to ongoing softness in international high roller activity and increased expenses from the rollout of our online gaming services. However, the local market remained strong as evidenced by revenue performance at Solaire North, which focuses on the domestic mass market, with gaming and resort revenues rising by 25% and 58% year-over-year, respectively.”

“The ramp-up of the MegaFUNalo online gaming platform is progressing, although at a slower pace than anticipated, despite regulatory uncertainties. We are actively enhancing our offerings and plan to launch new content in the coming weeks.”

Consolidated Results

Bloomberry’s Gross Gaming Revenue (GGR) was P14.6 billion, representing a decrease of 10% from P16.3 billion in the third quarter of 2024. In the first nine months of 2025, consolidated GGR was P45.7 billion, higher by 0.4% compared to the same period last year. Weakness in the VIP and premium mass segments persisted through the third quarter. Meanwhile, the combined revenue of mass table games and electronic gaming machines across the company’s two Metro Manila properties recorded growth of 15% in the first nine months.

Contra-revenue accounts in the third quarter decreased by 9% year-over-year to P3.4 billion. This represents 23% of consolidated GGR, unchanged from the same quarter last year.

Non-gaming and other revenue was P3.3 billion for the quarter, representing an increase of 21% from P2.8 billion generated in the same quarter last year. In the first nine months of 2025, non-gaming revenue was P9.5 billion, higher by 29% year-over-year.

Net revenue in the third quarter was P12.7 billion, representing a decrease of 8% from P13.8 billion in the same period last year. Net revenue increased by 3% in the first nine months to P39.7 billion.

Cash operating expenses in the third quarter reached P10.7 billion, higher by 11% compared to P9.7 billion in the same quarter last year. The increase in cash operating expense was due to higher advertising and promotions, cost of sales, and outside services and charges. Cash operating expenses in the first nine months of 2025 increased by 19% to P30.9 billion. Operating expenses attributable to MegaFUNalo was P684.8 million and P1.2 billion in the third quarter and first nine months of 2025, respectively. The Company made no provisions for bad debt in the third quarter.

For the quarter, the Company recorded consolidated EBITDA of P1.9 billion, representing a decrease of 53% from P4.1 billion in the same quarter last year. In the first nine months of 2025, Bloomberry’s EBITDA was P8.8 billion, lower by 30% year-over-year. For comparative purposes, in 2024, a one-off item that impacted EBITDA was SN pre-operating expense which amounted to P1.1 billion in the first nine months of 2024.

Bloomberry reported a net loss of P1.7 billion for the quarter which compares to net loss of P470.2 million in the same period last year. Net income in the first nine months was P160.1 million, down 95% from P3.5 billion in the first nine months of 2024. For comparative purposes, notable one-off items that impacted net income in the first nine months of 2025 were both related to the refinancing of the P40 billion Syndicated Loan Facility: 1) P175 million of GRT-related charges and 2) the P2.9 billion one-time, non-cash refinancing gain.

In the third quarter of 2025, the Company reported Basic Earnings per Share (EPS) loss of P0.165, which compares to a loss of P0.041 in the same quarter last year. EPS gain in the first nine months of 2025 was P0.016, lower than the P0.308 reported in the first nine months of 2024.

Solaire Resort Entertainment City (SEC)

For the third quarter, total GGR at SEC was P10.0 billion, representing a decline of 21% from P12.6 billion in the third quarter of 2024. GGR was negatively impacted by weaker volumes across all gaming segments and lower win rates in VIP tables.

VIP rolling chip volume was P72.0 billion, representing a year-over-year decline of 34%. The VIP hold rate was 2.25% against 3.30% in the third quarter of 2024. VIP GGR was P1.6 billion, declining by 55% compared to P3.6 billion in the same quarter last year.

Mass table drop was P8.6 billion, representing a year-over-year decline of 18%. The mass table hold rate was 44.8%, compared to 42.6% in the same period last year. Mass table GGR was P3.9 billion, down by 14% from P4.5 billion in the third quarter of 2024.

EGM coin-in was P77.6 billion, recording a 9% year-on-year decrease. The EGM hold rate was 5.8% compared to 5.3% in the third quarter of 2024. EGM GGR was P4.5 billion, higher by 0.5% compared to P4.5 billion in the same quarter last year.

Non-gaming revenue was P2.1 billion, up 7% from P1.9 billion in the same quarter last year. Net revenue was P8.2 billion, down 20% from P10.2 billion in the third quarter of 2024.

SEC generated EBITDA of P1.2 billion which was down 66% from P3.6 billion in the same quarter of last year.

Solaire Resort North (SN)

SN generated GGR of P4.6 billion for the quarter, representing a 25% increase from P3.7 billion it generated in the third quarter of 2024—its first full quarter of operations.

VIP rolling chip volume was P4.9 billion which compares to P2.2 billion in the same period last year. At a VIP hold rate of 2.80%, VIP GGR was P138.0 million which reversed from a loss of P19 million in the same period of 2024.

Mass table drop was P6.7 billion, representing a year-over-year increase of 5%. The mass table hold rate was 31.8%, compared to 25.5% in the same period last year. Mass table GGR was P2.1 billion, higher by 31% from P1.6 billion in the third quarter of 2024.

EGM coin-in was P42.6 billion, recording a 41% year-on-year increase. The EGM hold rate was 5.5% compared to 6.9% in the third quarter of 2024. EGM GGR was P2.4 billion, higher by 13% compared to P2.1 billion in the same quarter last year.

Non-gaming revenue was P1.1 billion, up 58% from P714.6 million in the same quarter last year. Net revenue was P4.3 billion, rising by 27% from P3.4 billion in the third quarter of 2024.

SN generated EBITDA of P787.6 million, higher by 19% compared to P660.0 million in the third quarter of 2024.

Jeju Sun Resort & Casino (Jeju Sun)

Solaire Korea’s Jeju Sun recorded gross gaming revenue of P3.8 million, reversing from a loss of P7.9 million in the same quarter last year.

Non-gaming revenue was P137.3 million, up 13% from P121.9 million in the third quarter of 2024. Net revenue was P140.6 million, higher by 23% year-over-year.

Jeju Sun generated LBITDA of P14.6 million which represents an improvement from LBITDA of P71.9 million recorded in the same quarter last year.

Balance Sheet and Other Items

As of September 30, 2025, Bloomberry had a consolidated cash and cash equivalents balance of P29.0 billion. Total outstanding long-term debt was P105.8 billion, which represents the balance of the current and non-current portions of the P72.0 billion and P40.0 billion Syndicated Refinancing Facilities. Total equity attributable to equity holders of the parent company was P61.7 billion.

Bloomberry had P1.3 billion in net receivables as of September 30, 2025, lower by P1.0 billion from the beginning of the year. Total allowances cover 96% of 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.megafunalo.com.

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