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Bloomberry posts $2M 1Q26 loss as Solaire VIP and premium mass slump deepens

Viviana Chan
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Bloomberry posts $2M 1Q26 loss as Solaire VIP and premium mass slump deepens

Solaire operator Bloomberry Resorts Corp reported a net loss of PHP125 million ($2 million) for the first quarter of 2026, reversing the PHP3.3 billion ($53.6 million) net income posted in the same period last year, as persistent weakness in the VIP and premium mass segments at Solaire Resort Entertainment City (SEC) dragged group performance lower.

Consolidated gross gaming revenue (GGR) fell 13 percent year-on-year to PHP14.7 billion ($238.6 million), while consolidated EBITDA declined 32 percent to PHP3 billion ($48.7 million). The bottom line was cushioned by a PHP403 million ($6.5 million) gain from the sale of the Jeju Sun gaming license in South Korea and PHP358.1 million ($5.8 million) in interest expense savings from earlier debt refinancing. 

The Jeju Sun gain reflected Bloomberry’s exit from the South Korean casino market, completed in March through a demerger and share purchase agreement with a local buyer, marking the end of the group’s Jeju Sun casino operations.

The Philippine flagship property bore the brunt of the decline. Solaire Resort Entertainment City’s GGR fell 18 percent year-on-year to PHP10 billion ($162.3 million), with all gaming segments contracting. VIP rolling chip volume dropped 39 percent to PHP53.2 billion ($863.5 million), pushing VIP GGR down 29 percent to PHP2 billion ($32.5 million). Premium mass conditions also remained subdued, with mass table GGR falling 21 percent to PHP3.9 billion ($63.3 million) and electronic gaming machine (EGM) GGR down 8 percent to PHP4.1 billion ($66.5 million).

Enrique Razon, Bloomberry Resorts
Enrique K. Razon Jr., Bloomberry chairman and chief executive

“The first three months of 2026 reflected continued softness in the VIP and premium mass segments, particularly in Entertainment City,” said Enrique K. Razon Jr., Bloomberry chairman and chief executive. “We reported a net loss of PHP125 million, which was meaningfully lower than quarterly losses reported in the previous three periods.”

The Solaire Resort Entertainment City results extend a trend that has weighed on Manila’s integrated resort sector since the wind-down of the POGO industry and the broader restructuring of junket-driven VIP play in the region. Bloomberry’s premium segment underperformance comes amid intensifying competition for high-end customers among Entertainment City operators.

Solaire Resort North, Bloomberry Resorts, Philippines,

Sister property Solaire Resort North (SN) in Quezon City offered a partial counterweight, with GGR edging up 1 percent to PHP4.7 billion ($76.2 million) despite a sharp 84 percent decline in VIP GGR to PHP77.5 million ($1.3 million) on a low 1.54 percent hold rate. EGM GGR at Solaire Resort North rose 20 percent to PHP2.6 billion ($42.2 million), and property EBITDA grew 9 percent to PHP1.2 billion ($19.5 million).

Razon also pointed to external cost pressures shaping the operating environment. “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,” he said.

Consolidated cash operating expenses rose just 1 percent year-on-year to PHP10.1 billion ($163.9 million) and declined 12 percent sequentially. As of 31 March 2026, Bloomberry held PHP31.6 billion ($512.9 million) in cash and cash equivalents.

Stake revamps flagship Crash game with upgraded visuals and gameplay

AGBrief Editorial
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Stake revamps flagship Crash game with upgraded visuals and gameplay

Stake has announced a major worldwide upgrade to its flagship Crash casino game, reinforcing another key step forward in the ongoing evolution of its Stake Originals portfolio.

Crash has built a global following thanks to a simple but high-intensity format – players track a rising multiplier and decide when to cash out before it suddenly drops. As one of the most recognisable titles in the Stake Originals portfolio, it sits at the heart of the platform’s in-house gaming identity, and this latest release sharpens both the look and the feel of every round.

The update introduces a refreshed look with a new graph crack animation that gives every round a more defined visual moment as the multiplier ends. The multiplier curve has been upgraded with dynamic colour gradients that evolve in real time – shifting from blue in the early stages, through green and purple, and into yellow as higher values are reached. A new player count display also shows how many participants are still active in each round, adding a stronger sense of shared, real-time gameplay.

Cashout responsiveness has been improved for faster, more consistent interactions during key multiplier moments allowing for a smoother performance. The update also enables uninterrupted gameplay during deployments, meaning Crash continues running smoothly while improvements are being rolled out in the background. Game payload optimisation and enhanced gameplay processing systems further reduce loading times and improve stability, particularly during high-activity periods, for a more reliable experience across all devices.

“Crash is one of those games that defines what a Stake Original feels like – quick, social, and full of tension in the best way,” said Akhil Sarin, Chief Marketing Officer at Stake. This update is about giving players a sharper, more responsive version of a game they already love, without ever losing what made it so appealing in the first place.”

Crash is one of Stake Casino’s most-played games, and the goal of this update is simple: keep what players love about it, and make everything around it feel sharper.

Moody’s sees SJM EBITDA improvement in 2026 on Casino L’Arc contribution

Viviana Chan
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Moody’s sees SJM EBITDA improvement in 2026 on Casino L’Arc contribution

Moody’s Ratings expects SJM Holdings to post adjusted EBITDA of HK$4.1 billion ($523.6M) in 2026, rising to HK$4.5 billion ($574.7M) in 2027, up from HK$3.4 billion ($434.2M) in 2025, the rating agency said on Friday. 

The improvement is primarily attributable to earnings from Casino L’Arc, which SJM acquired in December 2025, as well as gradual earnings accretion from tables reallocated from former satellite casinos.

The agency noted that the forecasts also account for ‘continued subdued earnings performance at GLP and Grand Lisboa, which is generally in line with its Q1 2026 performance.’

Alongside the forecast, Moody’s downgraded SJM’s corporate family rating (CFR) to B1 from Ba3, and lowered to B2 from B1 the backed senior unsecured rating on bonds issued by Champion Path Holdings Limited and SJM International Limited, both guaranteed by SJM. The outlook was revised to stable from negative.

‘The downgrade reflects our anticipation that SJM’s earnings growth will only be gradual over the next 12 to 18 months. Consequently, while we expect its financial leverage to improve from a very high level in 2025, it will likely remain elevated,’ said Stephanie Lau, a Moody’s Ratings Vice President and Senior Credit Officer.

SJM

Deleveraging path supported by earnings growth

The agency projects SJM’s adjusted debt-to-EBITDA ratio to improve to around 7.3 times in 2026 from 9.0 times in 2025, and to further decline to approximately 6.3 times in 2027. The improvement is driven primarily by earnings growth and a moderate reduction in debt. Moody’s expects adjusted debt to remain largely stable in 2026 before declining moderately in 2027.

According to Moody’s, the B1 CFR reflects SJM’s long-standing presence in Macao’s gaming market and the city’s favorable long-term growth outlook, while also capturing its geographic concentration, intense competition, and high financial leverage.

SJM’s liquidity position remains good, with cash holdings of HK$2.0 billion ($255.4 million), excluding restricted cash, and an available revolving credit facility. Moody’s said these resources will be more than sufficient to cover the operator’s committed capital spending and maturing debt over the next 12 to 18 months.

Wynn secures Top Workplace and People Transformation awards from HR Asia

AGBrief Editorial
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Wynn secures Top Workplace and People Transformation awards from HR Asia

Wynn was honoured with the “Best Company to Work for in Asia 2026” and the “People Transformation Award” in recognition of its outstanding human resource development strategy, following the unveiling of winners at the “HR Asia Best Companies to Work for in Asia 2026” awards ceremony in Hong Kong.

These two accolades underscore strong industry recognition of Wynn’s excellence in fostering a people-centric corporate culture, advancing talent development, and enhancing employee wellbeing.

Commenting on the achievement, Ms. Stephanie So, SVP of Human Resources of Wynn Macau and Wynn Palace, said, “We are truly honoured to receive the ‘Best Company to Work for in Asia 2026’ and ‘People Transformation Award’ from HR Asia. These awards reflect Wynn’s strong corporate culture and our ongoing commitment to talent development.”

“Today, more than 4,800 team members have been with the company for over 10 years, and as we celebrate our 20th anniversary in Macao, this figure will exceed 50% of our workforce. This enduring trust is a key driver of our sustainable growth and embodies our philosophy that ‘Only people make people happy.’ We will continue to invest in our people and contribute to Macao’s long-term development.”

SJM

Organised by HR Asia, one of the region’s most authoritative human resource publications, the “HR Asia Best Companies to Work for in Asia” is among the largest and most prestigious employer branding awards in Asia. The programme rigorously evaluates organisations across HR strategy, employee engagement, and workplace culture. This year’s recognition highlights Wynn’s sustained commitment to building a people-focused workplace, creating meaningful growth opportunities, and fostering a culture of care that enhances employee wellbeing and belonging.

The “People Transformation Award” further recognises Wynn’s strategic investment in structured talent development. Through a clear and progressive framework, the company supports team members at every stage—from onboarding and skills training to leadership development—enabling continuous professional growth. Key initiatives include the “Wynn Local Development Program,” “Wynn Management Foundation Program,” and “Wynn Return to School Program,” all designed to strengthen career pathways and empower long-term success.

Wynn remains committed to placing its people at the heart of its strategy, continuously enhancing its talent development approach while contributing to a more sustainable and competitive future for Macao.

Ici c’est Paris: Paris Saint-Germain are Ligue 1 champions for the fifth year in a row

AGBrief Editorial
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Ici c’est Paris: Paris Saint-Germain are Ligue 1 champions for the fifth year in a row

Paris Saint-Germain, an official partner of 1xBet, have defended their title and become France’s best team for the 14th time in their history.

Intriguing title race + historic victory in Le Classique

Last season’s Ligue 1 was a showcase of the Parisians’ total dominance. Luis Enrique’s side secured the title before the end of the campaign, finishing almost 20 points clear of their nearest competitors. This season brought a different story, treating fans to plenty of drama. The title was decided at the end of the campaign in a H2H clash between France’s best teams.

Lens had a sensational season, putting up a strong fight against the reigning champions, but in the end, the Parisians came out on top and claimed their 14th title. Luis Enrique’s men defended their title with flying colors, putting on a spectacular show in every match with an emphasis on attack. By the winter break, Paris Saint-Germain had already broken the club’s scoring record, netting at least one goal in 40 consecutive home games.

At the same time, the Red-and-Blues remained open to bold experiments and new debuts. In the first half of the Ligue 1 season, no fewer than 17 different players scored for the team. Luis Enrique gave young talents the chance to prove themselves, and they took full advantage of it. Ousmane Dembélé, Khvicha Kvaratskhelia and Désiré Doué remained the star performers of the Parisian football orchestra, but it was this season that Ibrahim Mbaye, Senny Mayulu and Quentin Ndjantou really made their mark.

Another highlight of Paris Saint-Germain’s triumphant season was their 5-0 thrashing of Olympique de Marseille on matchday 21 of Ligue 1. This was the Parisians’ biggest victory in the history of Le Classique in the French league.

The Red-and-Blues have become France’s top-scoring team by a wide margin, and complemented their league title with a place in the Champions League final for the second consecutive year. Luis Enrique’s side are rightly considered the most stylish in European football – they not only win, but do so beautifully.

1xBet congratulates Paris Saint-Germain on their well-deserved Ligue 1 title and wishes its official partner the best of luck in the Champions League final!

Zitro launches in Pennsylvania with debut at Live! Casino & Hotel Philadelphia

AGBrief Editorial
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Zitro launches in Pennsylvania with debut at Live! Casino & Hotel Philadelphia

The gaming giant Zitro has announced a new milestone in its U.S. journey, entering Pennsylvania with its first installation at Live! Casino & Hotel Philadelphia.

Legendary Sword by Zitro

Pennsylvania has been a key target for Zitro as it continues to expand its presence across regulated U.S. jurisdictions.  With one of the largest and most dynamic gaming markets in the country, it was a logical next step for the company, and Live! Casino & Hotel Philadelphia was the ideal partner to open this new chapter.

On the casino floor, players are already enjoying Zitro’s CONCEPT cabinet featuring ‘Legendary Sword’, a title that has demonstrated strong, consistent performance across multiple U.S. markets and internationally, and one that continues to resonate with players wherever it is deployed.

“Zitro’s ‘Legendary Sword’ is a fantastic addition to our property,” said Kevin O’Sullivan, Vice President of Gaming for Live! Casino & Hotel Philadelphia. “We’re pleased with the guest engagement so far and are eager to expand our partnership further.”

Derik Mooberry, CEO of Zitro USA, added: “Pennsylvania is a key market for us, and we are dedicated to providing operators and players with our best content. The launch of our product at Live! Casino is a significant step in our state-wide growth strategy, and we look forward to a long and successful partnership.”

With more announcements expected in the coming months, the company is well-positioned to continue its momentum as one of the gaming industry’s fastest-growing suppliers.

Daily Asia Gaming eBrief: Cross-border demand reshapes Macau events

AGBrief Editorial
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Daily Asia Gaming eBrief: Cross-border demand reshapes Macau events
Good morning. The real game starts outside the arena. Macau’s push into sports tourism is gaining momentum, but executives say the real bottlenecks sit behind the spotlight — funding gaps, talent shortages and hotel capacity. Panelists at Asian IR Expo argued that sports events are no longer standalone attractions, but week-long tourism engines built around concerts, fan zones and cross-border travel. Meanwhile, Mario Ho says esports and “Sports Plus” experiences could help Macau capture younger travelers and reduce its dependence on casino gaming. And regulators at G2E Asia warned that AI, illegal gambling and blurred betting boundaries are reshaping oversight worldwide.

What you need to know

On the radar

AGB Intelligence

MACAU

Sports tourism growth in Macau faces funding, talent and logistics challenges: panel

Funding and hotel gaps challenge Macau sports tourism growth

Panelists at the Asian IR Expo said Macau’s efforts to diversify tourism through sports and entertainment are being constrained by limited funding support, a shortage of experienced talent and insufficient mid-range hotel supply. Executives noted that large-scale sporting events now extend beyond competition into fan experiences, concerts and community activities designed to attract regional visitors and boost non-gaming spending.

Industry Updates

Corporate Spotlight

How Crypto Adoption in Asia is Changing iGaming Payments

Yevhen Krazhan, CSO for GR8 Tech

Yevhen Krazhan, CSO at GR8 Tech, explores how surging crypto adoption across Asia is revolutionizing iGaming payments, stating: “When I look at what’s changing fastest in Asia, it’s payment behavior,” as wallets, stablecoins, and seamless cross-border transfers become deeply ingrained in player habits. The winning operators will be those that offer fast, reliable, and local deposits and withdrawals. To make sense of it, Yevhen breaks Asia into two crypto realities.

INTELLIGENCE | ASEAN | AWARDS | CAREERS | EVENTS

Universal Entertainment flags rising customer acquisition costs at Okada Manila

Viviana Chan
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Universal Entertainment flags rising customer acquisition costs at Okada Manila

Universal Entertainment Corp said results at Okada Manila remained under pressure during the first quarter of 2026 due to intensifying competition in the Philippine gaming market, weaker mass-market performance and lower VIP hold rates, although the integrated resort improved sequentially following adjustments to its loyalty program.

The Japanese gaming and entertainment group reported that its Integrated Resort business generated net sales of JPY15.44 billion ($106 million) in the three months ended March 31st, down 16.0 percent year-on-year. Operating profit fell 92.8 percent to JPY23 million ($158,000), while adjusted segment EBITDA declined 55.7 percent to JPY2.04 billion ($14 million).

Universal said the gaming market in Entertainment City, Manila, remains in a period of adjustment, citing structural changes in the VIP market, intensifying competition for both VIP and mass-market customers, and rising customer acquisition costs. The company also said geopolitical tensions in the Middle East and higher fuel costs continued to weigh on market demand.

‘Although results fell short of the same period of the previous year, they exceeded those of the previous quarter due to measures such as the overhaul of our loyalty program,’ the company said in presentation materials accompanying its quarterly earnings release.

VIP gaming volume at Tiger Resort, Leisure and Entertainment Inc, the entity operating Okada Manila, increased during the quarter, but lower hold rates reduced overall VIP revenue. Rolling chip volume rose 8.6 percent year-on-year to PHP57.64 billion ($1.03 billion), while rolling chip win fell 19.0 percent to PHP1.44 billion ($25.7 million). The VIP win rate declined to 2.5 percent from 3.3 percent a year earlier.

Mass-market operations weakened more significantly. Live mass table games volume fell 29.3 percent year-on-year and mass table win declined 24.1 percent. Gaming machine handle dropped 4.1 percent, while gaming machine win decreased 8.9 percent. Overall gaming revenue declined 17.1 percent to PHP6.47 billion ($116 million).

Despite lower revenue, Universal said Okada Manila maintained operating profitability through cost-cutting measures, including reductions in selling, general and administrative expenses, optimization of fixed costs and lower depreciation expenses following an asset revaluation conducted during the previous fiscal year.

The company added that it would continue expanding its online gaming strategy in the Philippines through the ‘Okada Play‘ platform launched in partnership with PhilWeb Corp.

Japan supreme court seeks dismissal of judge over online casino allegations

Frank Schuengel
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Japan supreme court seeks dismissal of judge over online casino allegations

Japan’s Supreme Court has moved to initiate dismissal proceedings against a summary court judge who was indicted over alleged habitual online gambling activity involving offshore casino websites.

In a statement issued on Wednesday, the Supreme Court said it had requested that the relevant parliamentary impeachment commission file a petition with the Judge Impeachment Court seeking the removal of Akifumi Morimoto, a 52-year-old judge serving at Niigata Summary Court.

The Supreme Court stated that Morimoto’s conduct “amounted to a delinquency undermining the dignity of judges.” According to prosecutors, Morimoto allegedly accessed an online casino platform more than 60,000 times using his smartphone and tablet, and participated in gambling activities including baccarat between April and September 2023 while residing in Akita Prefecture.

The Akita District Public Prosecutors Office indicted Morimoto without arrest on 17 April. Japanese media reports said Morimoto has admitted to the allegations and expressed remorse, according to the Supreme Court.

If the parliamentary commission proceeds with the petition, the case will be reviewed by the Judge Impeachment Court, which will determine whether Morimoto should be formally dismissed from the judiciary.

Hong Kong Jockey Club and Deauville sign equine development partnership

Frank Schuengel
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Hong Kong Jockey Club and Deauville sign equine development partnership

The Hong Kong Jockey Club and the French commune of Deauville have signed a three-year Memorandum of Understanding aimed at expanding cooperation across equine sports development, horse welfare and racing-related initiatives.

The agreement was signed in Hong Kong by Andrew Harding, Executive Director of Racing at the Hong Kong Jockey Club, and Philippe Béhuet, Deputy Mayor of Deauville and Special Representative of the Mayor of Deauville. Under the partnership, the two sides will collaborate on areas including equine health and welfare research, racehorse supply opportunities, horse-riding tourism programmes and polo development initiatives.

The agreement also includes support for the retraining and re-homing of retired Hong Kong racehorses in France through Champs Legacy, an official partner of HKJC’s RESTART Racehorse Aftercare Programme. In addition, the partnership is expected to strengthen cooperation with French bloodstock auction house ARQANA, facilitating exchanges between breeders, agents and Hong Kong racing interests seeking to acquire racehorses.

Winfried Engelbrecht-Bresges, chief executive officer of the Hong Kong Jockey Club, said the agreement reinforced the longstanding relationship between Hong Kong and France’s equine industries. Philippe Béhuet said the partnership reflected shared values between Deauville and Hong Kong around horse racing, equestrian sports and innovation.

Located in Normandy, Deauville is regarded as one of Europe’s leading equestrian centres and hosts major racing and polo events alongside training, education and equine health facilities. The Hong Kong Jockey Club has maintained longstanding links with the French racing sector, including through annual trophy races staged in both Hong Kong and Deauville.

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