Bloomberry net gaming revenue to reach US$694m in 2023, analysts say

Bloomberry Resorts posted net income of US$61m for Q2.

08/15/23

The forecast depends on the company sustaining first-half performance.

The Philippines.- Casino operator Bloomberry Resorts Corp, is to reach an estimated net gaming revenue of approximately PHP39.4bn (US$694m) for this year, according to Maybank IBG Research. The forecast depends on the company sustaining first-half performance.

Bloomberry’s net gaming revenue for the second quarter reached PHP10.63bn, with nearly 99 per cent attributed to its flagship Solaire operation. First-half net gaming revenue was PHP21.45bn, 54.5 per cent of Maybank’s anticipated full-year projection.

Maybank’s analyst, Alexa Carvajal, noted that VIP rolling chip volume, mass table drop and electronic gaming machine coin-in reached PHP172.48bn, PHP13.28bn, and PHP90.01bn, respectively in the second quarter, reflecting year-on-year growth of 47 per cent, 42.9 per cent, and 16.6 per cent.

In the second quarter, Solaire recorded gross gaming revenue of PHP15.11bn, indicating a year-on-year rise of 15.3 per cent. However, this represented a 5.8 per cent dip sequentially.

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