Embattled PH Resorts Group Holdings recorded a net loss of PHP107.74 million ($1.89 million) in the third quarter of 2025, reversing from a net income of PHP101.34 million ($1.78 million) in the same period last year, as revenues and sales declined sharply.
The latest unaudited results were disclosed in the company’s quarterly filing on Monday.
The company’s revenues fell to PHP4.73 million ($83,000) in 3Q25, down 47.6 percent from PHP9.03 million ($158,000) a year ago. Sales dropped to PHP2.71 million ($47,500), compared with PHP4.31 million ($75,600) in 3Q24. The weaker performance was driven largely by lower room and food-and-beverage income at its Donatela Resort in Bohol, the group’s only operating property.
With operating expenses reaching PHP45.92 million ($805,000), the Philippines-based hospitality and gaming company posted an operating loss of PHP44.28 million ($777,000), slightly narrower than last year’s PHP54.37 million ($953,000). The company’s bottom line, however, was significantly affected by non-operating items, including foreign exchange losses and the absence of last year’s one-off income from nonrefundable transaction payments.
The third-quarter loss underscores the company’s continued financial strain as it works through the impact of the failed sale-and-leaseback repurchase of its Mactan casino development, the Emerald Bay Resort, which earlier triggered major asset derecognition and substantial write-downs.
For the first nine months of 2025, PH Resorts reported a net loss of PHP6.85 billion ($120.2 million), compared with PHP392.95 million ($6.9 million) a year earlier.
Revenues for the nine-month period also dropped to PHP22.15 million ($389,000), from PHP28.98 million ($508,000), while sales slipped to PHP12.49 million ($219,000), compared with PHP17.36 million ($305,000) in 2024.
The company continues to face liquidity pressures, with management citing ongoing talks with lenders, strategic investors, and its parent firm Udenna Corp. to support financing requirements and address capital deficiencies.
