Bloomberry Launches New Online Gaming as Profits Dip

Bloomberry expands into online gaming while growing Solaire North, aiming to reach more players across the Philippines with its latest digital platform.

Bloomberry Resorts Corp., the operator of Solaire Resorts and Casinos, is making a major move into online gaming. The company plans to roll out a new digital platform by the end of May or early June 2025.

Chairman Enrique Razon Jr. says the service is now in testing and aims to reach players all across the Philippines. The product will complement Solaire Online, the company’s first digital brand launched in 2021, and is designed for the broader mass market.

The timing comes as the local e-gaming scene gains momentum. According to Pagcor, online platforms could soon generate as much income as traditional casinos. Bloomberry expects to earn between ₱2.5 billion and ₱3.7 billion (roughly $45 to $66 million) in gross gaming revenue from the new online service.

However, this shift online comes as Bloomberry faces some financial headwinds. The company’s net income fell by 73% to ₱2.6 billion in 2024. The drop was linked to a slowdown in VIP segment revenues and the high costs of opening its new ₱56 billion ($1 billion) resort in Quezon City — Solaire Resort North.

Despite the rocky start, Razon remains optimistic. He says Solaire North is improving “every month” in both foot traffic and revenue, and is edging closer to profitability.

With three big goals — boosting Solaire Entertainment City, growing Solaire North, and building a solid online gaming business — Bloomberry is betting on both physical and digital entertainment.

Read related article: Bloomberry Sees Revenue Growth, But Profits Fall in 2024