{"id":777005417,"date":"2023-05-19T12:46:07","date_gmt":"2023-05-19T15:46:07","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777005417"},"modified":"2026-04-22T21:49:34","modified_gmt":"2026-04-23T00:49:34","slug":"maybank-securities-increases-bloomberry-earnings-estimates","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/maybank-securities-increases-bloomberry-earnings-estimates","title":{"rendered":"Maybank Securities increases Bloomberry earnings estimates"},"content":{"rendered":"\n

Maybank Securities has increased its growth estimates for Bloomberry Resorts Corp citing the company’s strong first-quarter performance.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Analysts at Maybank have upped their 2023 and 2024 earnings estimates for Bloomberry Resorts Corp<\/strong> following strong Q1 results. They have raised their forecast for 2023<\/strong> to PHP10.05bn, up nearly 39 per cent compared to the previous estimate of PHP7.25bn. The 2024 net income forecast has been raised by 17 per cent from PHP12.63bn to PHP14.83bn.<\/p>\n\n\n\n

Gross gaming revenue (GGR) assumptions have been revised upwards by 9 per cent and 7 per cent for 2023 and 2024 respectively. Analysts highlighted the sustained strength of the South Korean VIP base and the consistent performance of the operator’s mass and slots segments as factors contributing to the positive outlook.<\/p>\n\n\n\n

The company posted net income of US$54m<\/a> for the first quarter of the year and reported gross gaming revenue (GGR) at Solaire Resort and Casino in the Metro Manila region was PHP16bn (US$287m).<\/p>\n\n\n\n

Analyst Miguel Sevidal<\/strong> emphasized the significant growth potential for Bloomberry, driven primarily by domestic demand and supported by a strong recovery in VIP gaming. <\/p>\n\n\n\n

He said: \u201cOur 2023 GGR forecasts for VIP, mass and slots are at 75 per cent\/100 per cent\/138 per cent of 2019-levels respectively,” and noted that the risks associated with competition and regulation were limited.<\/p>\n\n\n\n

Maybank Securities maintains its belief that the domestic demand in the Philippines will continue to drive growth in the mass and slots segments for the overall industry. It highlighted the resilience of industry GGR to inflation and the increasing wallet share of casinos, indicating a rising proportion of local spending on casino gambling.<\/p>\n\n\n\n

See also:<\/strong> Philippines GGR up 80.9% for Q1<\/a><\/p>\n\n\n\n

Bloomberry’s Q1 results were attributed to support from locally-based Chinese players, as well as patrons from South Korea, Taiwan and the ASEAN region. Maybank Securities anticipates upbeat performance of the VIP base due to enhanced flight connectivity between Incheon and Manila.<\/p>\n","protected":false},"excerpt":{"rendered":"

Maybank Securities has increased its growth estimates for Bloomberry Resorts Corp citing the company’s strong first-quarter performance.<\/p>\n","protected":false},"author":176,"featured_media":21007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Maybank Securities has significantly raised its 2023 and 2024 earnings and GGR forecasts for Bloomberry Resorts Corp, citing robust Q1 performance. This upward revision is driven by strong domestic demand, a recovering VIP segment, and consistent growth in mass and slots, particularly at Solaire Resort and Casino in the Philippines. The positive outlook is further supported by strong patronage from South Korea, local Chinese players, and improved flight connectivity.","focusai_entities":"Maybank Securities, Bloomberry Resorts Corp, Miguel Sevidal, Solaire Resort and Casino","focusai_location":"Philippines, Metro Manila, South Korea, Taiwan, ASEAN, Incheon, Manila","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), marketing_crm (0.75), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Segment Breakdown","query":"What specific GGR contributions are projected from the VIP, mass, and slots segments for Bloomberry Resorts Corp in 2023 and 2024, and how do these compare to pre-pandemic levels?"},{"label":"Domestic Demand Sustainability","query":"What are the underlying macroeconomic indicators and consumer spending trends in the Philippines that support Maybank's confidence in sustained domestic demand driving mass and slots GGR growth?"}],"footnotes":""},"categories":[157,16333],"tags":[15417],"class_list":["post-777005417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-bloomberry-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005417","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=777005417"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005417\/revisions"}],"predecessor-version":[{"id":777005444,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005417\/revisions\/777005444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21007"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777005417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777005417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777005417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}