Solaire slump drags Bloomberry

Razon-led Bloomberry Resorts Corp. reported a 52-percent fall in net income to P1.9 billion in the first half of 2025 from P4 billion in the same period last year due to weaker earnings from Solaire Entertainment City (SEC) as well as the operating expenses (opex) from its new online gaming platform.

- By JAMES A. LOYOLA

In a disclosure to the Philippine Stock Exchange (PSE), the firm said it incurred a net loss of P1.4 billion for the second quarter of 2025, which compares to a net profit of P1.3 billion in the same period last year.

This is despite one-off items in the first half of 2025 related to the refinancing of the P40-billion syndicated loan facility, consisting of P175 million of gross receipt tax (GRT)-related charges and the P2.9-billion onetime, non-cash refinancing gain.