Maybank Sees Solaire North Boosting Bloomberry, Raises FY25 Estimates

Maybank Securities has upgraded its financial year projections for 2025 and has assigned Bloomberry Resorts Corp a “BUY” rating.

This assurance stems from the triumphant opening of Bloomberry’s latest integrated resort, Solaire Resort North, located in Quezon City.

Up from their previous estimate of 14%, Maybank now projects that Solaire North would account for a sizeable 22% of Bloomberry’s overall gross gaming revenue (GGR) by the following year.

With 520 hotel rooms, 160 gaming tables, and 1,600 electronic gambling machines at its grand launch last week, Bloomberry has undergone this alteration.

Analyst Raffy Mendoza visited the property recently and noted that it has a lot of local clients in addition to being impressed by its concentration on catering to the general domestic market.

Despite lowering Bloomberry’s 2024 net profitability goal somewhat as a result of a first-quarter loss, Mendoza is still optimistic. In order to account for the expected impact of Solaire North, he raised the 2025 prediction by 1%, to Php14.5 billion (US$245 million).

Original Story by: Inside Asian Gaming