Bloomberry, operator of Solaire Resort & Casino, incurred a decline in the first three months of 2015, as higher depreciation and other expenses from the opening of its new wing offset the double-digit rise in gaming revenues.

Bloomberry, in a disclosure to the Philippine Stock Exchange on Wednesday, posted a net loss of P533m in January to March period, versus a P1.46b net profit in the same period last year

In the first quarter, gross gaming revenues went up by 15% year-on-year to P8.09b as Solaire attracted an even split of VIP mass market. Revenues net of promotional allowances increased by 9% year-on-year to P6.34b.

Bloomberry noted that the first quarter of this year was the second best quarter in terms of gross gaming revenues after the fourth quarter of last year.