Bloomberry Targets Profit Return in 2027

Bloomberry Resorts Corp, the company behind Philippine casino operator Solaire, is expected to move back into profit in 2027 despite a challenging operating environment in 2026.

According to Maybank Securities, stronger VIP customer activity and the expansion of Bloomberry’s online gaming operations could support the company’s recovery.

In a Friday report, Maybank analyst Raffy Mendoza pointed to signs of greater stability across Bloomberry’s operations during the first half of 2026. The group recorded positive quarterly earnings in both Q1 2026 and Q2 2026, supported by higher VIP GGR at Solaire Resort Entertainment City and stronger slots revenue at Solaire Resort Quezon City.

2026 Losses to Precede Expected Profit

Maybank expects Bloomberry to remain loss-making during 2026, with core losses projected at approximately PHP2.3 billion (US$37 million).

However, Mendoza forecasts that the company will return to profitability in 2027, generating around PHP421 million (US$6.7 million) as its main revenue drivers gradually recover.

Maybank has also raised its rating on Bloomberry from Hold to Buy, stating that negative sentiment surrounding the company over the previous 18 months has already been reflected in its share price. Bloomberry shares have declined by nearly 40% since January.

Mendoza also highlighted consecutive quarters of EBITDA growth, which he attributed to management’s cost-control measures. The company’s focus on managing expenses while developing its revenue streams is expected to support the anticipated turnaround.

VIP Recovery Among Key Growth Drivers

Maybank identified several areas that could influence Bloomberry’s performance over the coming quarters.

One of these is the recovery of VIP GGR, with management continuing to review its commission strategy and work to secure junket operators for Solaire Resort Entertainment City.

The VIP business remains an important part of Bloomberry’s revenue mix, making its recovery a significant element of the company’s broader turnaround expectations.

Another area being monitored is Solaire Resort Quezon City, which is entering its second full year of operations. The property has already demonstrated strength in slots revenue, while further development could increase its contribution to the wider group.

Online Gaming to Play Larger Role

Bloomberry’s expanding e-gaming platforms are also central to Maybank’s recovery outlook.

The company expects its online operations to provide an increasingly important source of revenue as the business expands its digital gaming offering.

Greg Hawkins, President and COO of Bloomberry, said the company is targeting online gaming to account for 20% of the group’s total GGRs by 2027.

The target underlines the importance of the online segment to Bloomberry’s strategy and represents a significant shift in the group’s revenue mix.

Bloomberry Shares Reflect Previous Weakness

Bloomberry’s nearly 40% share-price decline since January comes after a difficult 18-month period for the company.

Maybank’s upgraded rating indicates that the brokerage believes much of the previous negative sentiment has already been incorporated into Bloomberry’s current valuation.

The company’s progress will therefore remain tied to its ability to revive VIP GGR, expand the contribution from Solaire Resort Quezon City, and grow its online gaming operations as it targets a return to profitability in 2027.