• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 22 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Maybank raises Bloomberry’s FY23 and FY24 earnings estimates on growth in international VIP market

Newsdesk by Newsdesk
Wed 13 Sep 2023 at 22:50
PAGCOR’s Alejandro Tengco
20
SHARES
495
VIEWS
Print Friendly, PDF & Email

Financial services group Maybank has raised its FY23 and FY24 earnings estimates for Bloomberry Resorts Corp by 23% and 15% respectively, citing the return of international VIPs from South Korea, Taiwan and Singapore to the company’s Manila integrated resort, Solaire Resort Entertainment City.

The revision comes after Bloomberry recently reported net income of Php6.4 billion for the first six months of the year, representing 69% of Maybank’s 2023 forecasts. This, explained analyst Alexa Mae Carvajal in a Wednesday note, was driven by a 47% year-on-year increase in net gaming revenue which accounted for 85% of 1H23 revenue.

“Although revenue contribution from mass and slots (64% of total GGR) grew by 24% and 44% year-on-year respectively, the outperformance was due to the 57% year-on-year growth in the VIP segment (36% of total GGR), which was attributable to more foreign players, namely from South Korea, Taiwan and Singapore.”

Carvajal has also raised her FY23 and FY24 revenue forecasts for Bloomberry by 7% each as gaming volumes continue to grow across the board, with “higher foot traffic and increasing number of foreign punters.”

Net income is now forecast at Php12.4 billion for FY23, rising to Php17.1 billion in FY24. The FY24 estimate includes the projected opening of Solaire Resort North in the first half of next year.

Bloomberry last month reported net income of Php3.4 billion (US$60.4 million) in the three months to 30 June 2023, up 92% year-on-year and 13.3% higher than 1Q23.

RelatedPosts

Winford Resort & Casino Manila becomes first Philippines IR to commit to 30% plant-based menu by 2026

Winford Resort & Casino Manila becomes first Philippines IR to commit to 30% plant-based menu by 2026

Fri 22 Aug 2025 at 05:40
PAGCOR chair Tengco says transactions on licensed online gambling sites down 50% since ban on e-wallet links

PAGCOR chair Tengco says transactions on licensed online gambling sites down 50% since ban on e-wallet links

Thu 21 Aug 2025 at 05:35
Death by a thousand cuts

SkyCity announces US$140 million equity raising on continued economic weakness, lower customer spend

Thu 21 Aug 2025 at 05:11
Ainsworth completes first Philippines installations of new A-Star slots cabinet

Ainsworth results improved in 1H25 on 81% increase in revenue from Asia-Pacific region

Wed 20 Aug 2025 at 04:56
Load More
Tags: Bloomberry Resorts CorpcasinoearningsGamingMaybankPhilippinesrevenueSolaire Resort Entertainment City
Share8Share1
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Indian court denies request to block all online gambling sites during cricket World Cup

Indian parliament bans all real-money online gambling

by Newsdesk
Fri 22 Aug 2025 at 06:21

The Indian parliament has passed a bill that will ban all real-money online gaming, including skill games such as fantasy sports and poker. Reuters reports that India’s upper house passed the controversial Promotion and Regulation of Online Gaming Bill 2025...

Sri Lankan cabinet approves creation of Gambling Regulatory Authority

Sri Lankan parliament passes Gambling Regulatory Authority Bill

by Ben Blaschke
Fri 22 Aug 2025 at 06:03

Sri Lanka’s Gambling Regulatory Authority Bill has been passed by the nation’s parliament with amendments, local media has reported. The Bill, which was gazetted in May under the directives of President Anura Kumara Dissanayake in his capacity as the Minister...

Winford Resort & Casino Manila becomes first Philippines IR to commit to 30% plant-based menu by 2026

Winford Resort & Casino Manila becomes first Philippines IR to commit to 30% plant-based menu by 2026

by Newsdesk
Fri 22 Aug 2025 at 05:40

Winford Resort & Casino Manila has become the first gaming complex in the Philippines to publicly commit to a comprehensive plant-forward initiative, pledging to make 30% of all menu offerings plant-based across its food service operations by early next year....

How Indian affiliates earn and scale with 1xPartners

How Indian affiliates earn and scale with 1xPartners

by Newsdesk
Fri 22 Aug 2025 at 05:32

CLIENT PROMOTION The 1xPartners affiliate program by 1xBet brings together people from diverse backgrounds, all united by a common goal – growth in digital marketing. In this article, three partners from India share their path and formula for success. Shubham:...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English