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Razon’s Bloomberry Pressured by Weak Premium Demand and Heavy Debt in First Half

The operator’s two resorts and expanding online business lifted capacity, but weak premium demand, promotional costs, and heavy debt kept first-half earnings under pressure **MANILA—**Bloomberry Resorts Corp. has more gaming capacity than ever. What it doesn’t yet have is more profit. The operator of Solaire Resort Entertainment City and the newer Solaire Resort Quezon City reported ₱27.2 billion in net revenue for the first half of 2026, an increase of just 1% from a year earlier. Earnings before interest, taxes, depreciation and amortization fell 7% to ₱6.4 billion from ₱6.9 billion, while Bloomberry swung to a net loss of ₱470.3 million from a reported ₱1.9 billion profit. The numbers expose the challenge Bloomberry faces after a major business expansion. The company now operates two large casinos in Metro Manila and is building out Solaire Online and FUNaloMax. But more gaming floors, hotel rooms and digital channels haven’t yet produced a corresponding increase in consolidate...

DDMPR’s Earnings Edge Higher, but Vacancies Cloud Rental Growth

Higher rental rates and finance-lease income lifted first-half results, while soft occupancy and rising receivables highlighted the challenge facing the property trust DDMP REIT Inc. reported narrowly higher earnings for the first half of 2026, as rental-rate increases and stronger interest income offset weakness in other revenue. But declining second-quarter rent and a blended occupancy rate of 64.55% showed that the Philippine property trust has yet to establish a durable organic-growth engine. The real-estate investment trust, known by its stock symbol DDMPR, posted net income of ₱786.1 million for the six months ended June 30, up 0.5% from ₱782.6 million a year earlier. Total revenue similarly edged 0.5% higher to ₱1.004 billion , from ₱999.6 million. The modest increase masks a mixed performance across DDMPR’s sources of income. Rent income—the core measure of a landlord’s operating momentum—rose just 0.4% to ₱783.2 million in the first half. Management attributed t...

Lopezes’ ₱6-Billion ABS-CBN Lifeline Leaves Ayala, Aboitiz Banks Asking: How Much Goes to Us?

Fresh equity can repair the broadcaster’s balance sheet, but creditor banks tied to the Ayala and Aboitiz groups will determine whether the money finances a recovery—or merely repays old obligations. **MANILA—**ABS-CBN Corp.’s proposed ₱6 billion capital infusion gives the debt-laden media company something it has lacked since losing its broadcast franchise in 2020: time. Whether it produces a turnaround is another question. The broadcaster said I&C Holdings Corp. would invest ₱3.5 billion, while three Lopez family investment vehicles—Crème Investment Corp., Mantes Corp. and Presta Holdings Co.—would contribute a combined ₱2.2 billion. Lopez Inc. would invest another ₱300 million. ABS-CBN’s board approved the transaction on August 13, a day after the subscription agreements were signed. The company said the proceeds would be used for general corporate purposes. The transaction would inject permanent capital without adding interest expense. I&C, established by invest...

Razon’s MWC vs. Pangilinan’s MYNLD: A Revenue-and-Capex Rivalry Takes Shape

Manila Water won the first-half revenue race through higher tariffs, while Maynilad relied more on rising billed volume and falling water losses. Their capital strategies reveal an even deeper divide: acquisition-led water security versus aggressive organic infrastructure expansion. The rivalry between Enrique Razon Jr.-backed Manila Water Co. (PSE: MWC) and Manuel V. Pangilinan-chaired Maynilad Water Services (PSE: MYNLD) is emerging as a contest between two distinctly different utility strategies. In the first half of 2026, Manila Water recorded ₱22.19 billion in operating revenue , up 11% from ₱20.00 billion a year earlier. Maynilad generated ₱19.11 billion , an increase of 4.1% from ₱18.35 billion. Manila Water therefore added about ₱2.19 billion of revenue—nearly three times Maynilad’s roughly ₱761 million increase. But revenue growth tells only half the story. Manila Water and Maynilad are also directing capital toward different sources of future growth. Manila Wa...

Manila Water’s Profit Rises as Higher Tariffs Offset Cost of Wawa Expansion

The Philippine utility’s acquisition of the Wawa bulk-water project strengthens its control over Metro Manila’s water supply—but brings heavier debt and interest expenses. **MANILA—**Manila Water Co. reported stronger first-half profitability and cash generation as higher tariffs lifted revenue faster than operating costs, helping the Philippine utility absorb the early financial burden of its acquisition of the Wawa Bulk Water Supply Project. Water and used-water revenue increased about 12% to ₱21.04 billion in the six months ended June, accounting for nearly all of the group’s revenue growth. The increase came primarily from higher customer rates rather than greater water consumption, underscoring the importance of regulated tariff adjustments to the company’s latest results. Total operating revenue, including finance income, rose 11% to ₱22.19 billion . Costs excluding depreciation and amortization increased by a more modest 6%, according to management’s cash-cost presentatio...