Bloomberry Resorts Corp, the parent company of leading Philippine casino brand Solaire, should return to profit in 2027 after another challenging period this year, driven by higher VIP demand and growth in the group’s online gaming platforms, according to Maybank Securities.
In a Friday note, Maybank’s Raffy Mendoza pointed to recent stabilization of the Bloomberry business during the first six months of this year, with the company reporting quarter-on-quarter improvements in both 1Q26 and 2Q26. This was aided by higher VIP GGR for Solaire Resort Entertainment City and slots revenue at Solaire Resort Quezon City.
While Bloomberry will stay in the red in 2026 with core losses of around Php2.3 billion (US$37 million), Mendoza said he expects the company to record a profit of around Php421 million (US$6.7 million) in 2027.
Maybank has also upgraded Bloomberry from “Hold” to “Buy,” arguing that the negative of the past 18 months has already been priced into the stocks, which have fallen by close to 40% since January.
“Bloomberry has shown consecutive quarters of EBITDA growth driven by management’s prudent cost management initiatives,” Mendoza said.
“We will continue to monitor the following catalysts in the coming quarters: recovering VIP GGR as management continues to revisit its commission strategy and secure junket operators in Solaire Entertainment City; growing the contribution of Solaire Quezon City as it enters its second full year of operations; and Bloomberry’s ramp-up of its e-gaming platforms.”
Bloomberry President and COO Greg Hawkins told Inside Asian Gaming last week that the company hopes its online arm can grow to contribute 20% of group-wide GGR by the end of 2027.
RelatedPosts
