Razon’s Bloomberry to challenge Tanco’s DigiPlus in online gaming scene

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The anticipated launch of Bloomberry's digital gaming platform comes as e-gaming revenues surpass that of brick and mortar casinos

MANILA, Philippines – Bloomberry Resorts of tycoon Enrique Razon Jr. is set to challenge Eusebio Tanco’s DigiPlus Interactive in the online gaming scene.

While Bloomberry has yet to disclose a specific date for the launch of its platform, called megaFUNalo, Razon had said during the firm’s April stockholders’ meeting that they were aiming for a May or early June launch.

“In a bid to secure the long-term success of our business, we seek to further increase our presence in mass market gaming through a new electronic gaming product launching in the second quarter of 2025,” he said.

Bloomberry first launched its Solaire Online platform in 2021 after receiving approval from the Philippine Amusement and Gaming Corporation (Pagcor) to accept bets online.

While Bloomberry’s stock prices ended the trading week 0.99% lower on Thursday, June 5, at P5 apiece, the Solaire operator’s shares had a three-day winning streak from Monday, June 2, to Wednesday, June 4.

The three-day run was sparked by high excitement over the start of pre-registration efforts for megaFUNalo.

The new digital gaming site is expected to compete with platforms of DigiPlus, whose valuation skyrocketed to around P250 billion amid its dominance in the online gaming scene.

In 2024, Tanco’s firm tripled its net income to P12.6 billion, thanks to its retail gaming segment and livestreamed games, among others.

During the same period, Bloomberry’s bottom line dropped 72% to P2.6 billion amid a jump in depreciation and interest expenses. But it noted that its mass market segment outperformed its VIP business, with revenues from its mass table games and electronic gaming machines climbing 19%.

DigiPlus, which operates brands like BingoPlus, continued its winning streak into the first quarter of 2025. Earnings before interest, taxes, depreciation, and amortization more than doubled to P4.59 billion, driven by strong contributions from its flagship brands and new offerings.

Meanwhile, Bloomberry’s net income climbed 26% to P3.3 billion in the first quarter due to a one-time refinancing gain. But without its P40-billion syndicated loan facility, its bottom line would have plunged 82% to P445.8 million.

The first quarter of 2025 was the first time e-gaming revenues surpassed that of brick and mortar casinos, according to Pagcor data. The sector contributed P51.3 billion in gross gaming revenues or GGRs, which accounted for around 49% of all GGRs.

“This represents not just revenue growth but how consumer behavior continues to shift towards digital, on-demand gaming experiences, accelerated by greater access to mobile technology,” Pagcor Chairman Alejandro Tengco said. – Rappler.com