{"id":33177,"date":"2022-09-02T02:43:06","date_gmt":"2022-09-02T05:43:06","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=33177"},"modified":"2026-04-23T05:17:03","modified_gmt":"2026-04-23T08:17:03","slug":"bloomberrys-ebitda-to-reach-pre-pandemic-levels-by-2023-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bloomberrys-ebitda-to-reach-pre-pandemic-levels-by-2023-analysts-say","title":{"rendered":"Bloomberry’s EBITDA to reach pre-pandemic levels by 2023, analysts say"},"content":{"rendered":"\n

Analysts at Morgan Stanley Asia Ltd say Bloomberry’s EBITDA might reach 100 per cent of 2019 levels next year.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Morgan Stanley Asia Ltd said that it expects casino operator\u00a0Bloomberry\u00a0<\/strong>to reach pre-pandemic EBITDA next year. Analysts expect Bloomberry’s EBITDA to hit PHP19.25bn in 2023<\/strong>, a full recovery compared to 2019 and “a higher market share of premium mass revenue gained during Covid-19.”<\/p>\n\n\n\n

The brokerage has raised its 2022 EBITDA estimate by 8 per cent to PHP15bn \u2013 already 77 per cent of 2019 levels.<\/p>\n\n\n\n

Analysts said: “We project third-quarter 2022 EBITDA at PHP4.0bn (US$70.9m)<\/strong>.” That amount represents 88 per cent of what was generated in 2019.<\/p>\n\n\n\n

They added: “We expect Bloomberry Resorts\u2019 free cash flow to equity at PHP6.5bn in 2022 (55 per cent of 2019\u2032s level) and PHP9.6bn in 2023 (80 per cent of 2019\u2032s level). Cumulatively, that equals 45 per cent of capex on Solaire North in the second half of 2022 (PHP15bn) and 2023 (PHP20bn).”<\/p>\n\n\n\n

It comes after the company reported gross gaming revenue up by 131 per cent year-on-year from PHP5.7bn to PHP13.1bn (US$235m)\u00a0in the second quarter of the year<\/a>.<\/p>\n\n\n\n

At Solaire, non-gaming revenue for the second quarter was PHP1.7bn, up 163 per cent year-on-year. In the first half of the year, the figure was PHP2.7bn, up 74 per cent year-over-year.<\/p>\n\n\n\n

Bloomberry\u00a0<\/strong>has held the formal topping-off ceremony at its\u00a0Solaire North integrated resort<\/strong>\u00a0in Vertis, Quezon City and confirmed plans for a Q4 2023 opening.<\/p>\n\n\n\n

The company posted on Facebook: \u201cThe addition to the Solaire brand aims to capture and cater to the northern and eastern markets of Metro Manila and the National Capital Region. The property is expected also to offer hotel, gaming, restaurants and bars, meeting facilities, and retail spaces like its pioneer development, Solaire Resort & Casino in Entertainment City in Paranaque.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts at Morgan Stanley Asia Ltd say Bloomberry’s EBITDA might reach 100 per cent of 2019 levels next year.<\/p>\n","protected":false},"author":176,"featured_media":29713,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Morgan Stanley Asia Ltd projects Bloomberry Resorts' EBITDA to fully recover to 2019 levels by 2023, driven by strong Q2 GGR growth and increased premium mass market share. The company is also progressing with its Solaire North integrated resort in Quezon City, targeting a Q4 2023 opening to expand its market reach within Metro Manila.","focusai_entities":"Morgan Stanley Asia Ltd, Bloomberry, Bloomberry Resorts, Solaire","focusai_location":"Philippines, Quezon City, Metro Manila, Paranaque","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Solaire North ROI","query":"What is the projected return on investment and payback period for the PHP35bn capital expenditure on Solaire North, considering the targeted market segments and competitive landscape?"},{"label":"Premium Mass Strategy","query":"How sustainable is Bloomberry's reported gain in premium mass market share, and what specific operational or marketing strategies are being deployed to retain and grow this segment post-pandemic?"}],"footnotes":""},"categories":[157,158,16333],"tags":[15417],"class_list":["post-33177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-bloomberry-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=33177"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33177\/revisions"}],"predecessor-version":[{"id":33206,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33177\/revisions\/33206"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/29713"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=33177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=33177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=33177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}