Analysts at Morgan Stanley expect a fall of 9 per cent due to loss of market share and fluctuations in win rates.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- Morgan Stanley Asia <\/strong>has predicted that\u00a0Bloomberry Resorts Corp<\/strong>\u00a0will report a 9 per cent quarter-on-quarter decline in EBITDA for the third quarter.\u00a0Analysts\u00a0Gareth Leung\u00a0<\/strong>and\u00a0Praveen Choudhary<\/strong> noted that this would be the first quarter since 2022 to see a sequential decrease.\u00a0they attributed the forecast to a potential loss of market share and fluctuations in win rates.\u00a0<\/p>\n\n\n\n Bloomberry Resorts Corp reported\u00a0consolidated EBITDA of PHP5.46bn<\/a>\u00a0and a net profit of PHP3.43bn (US$61m) for the three months ending June 30. Analysts said Solaire Resort and Casino might experience a decline in its gross gaming revenue market share, partly due to the variability in win rates. However, the slot business, reliant on domestic demand, is anticipated to remain stready.<\/p>\n\n\n\n Bloomberry Resorts Corp operates Solaire in Metro Manila and is developing a casino resort in Vertis, Quezon City, which is slated for opening in the coming year<\/a>. The casino operator has recently\u00a0boosted its public float<\/a>\u00a0from 33.94 per cent to 37.17 per cent through a share placement and subscription transaction, securing PHP5.59bn (US$98.3m) in fresh capital.<\/p>\n\n\n\n Bloomberry Resorts said its goal was to strengthen and diversify its capital base while expanding the ownership of its shares among a broader spectrum of institutional investors.<\/p>\n","protected":false},"excerpt":{"rendered":" Analysts at Morgan Stanley expect a fall of 9 per cent due to loss of market share and fluctuations in win rates.<\/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":"Morgan Stanley analysts project a 9% sequential decline in Bloomberry Resorts Corp's Q3 EBITDA, primarily due to anticipated market share loss and win rate variability at Solaire Resort and Casino. This forecast marks the first sequential decrease since 2022. Concurrently, Bloomberry recently secured PHP5.59bn in fresh capital through a share placement, aiming to bolster its capital structure and broaden institutional investor participation.","focusai_entities":"Morgan Stanley, Morgan Stanley Asia, Bloomberry Resorts Corp, Gareth Leung, Praveen Choudhary, Solaire Resort and Casino","focusai_location":"Philippines, Metro Manila, Quezon City","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q3 Performance Drivers","query":"What specific market conditions or competitive pressures are driving the anticipated loss of GGR market share for Solaire Resort and Casino in Q3?"},{"label":"Capital Allocation Strategy","query":"How will the PHP5.59bn in fresh capital be strategically deployed to mitigate market share erosion and support the Vertis casino resort development, and what is the projected ROI?"}],"footnotes":""},"categories":[157,16333],"tags":[15417],"class_list":["post-777010193","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\/777010193","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=777010193"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010193\/revisions"}],"predecessor-version":[{"id":777041130,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010193\/revisions\/777041130"}],"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=777010193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777010193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777010193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}