SHARES in Bloomberry Resorts Corp. surged last week as investors reacted positively to the launch of its digital gaming platform MegaFUNalo.
Data from the Philippine Stock Exchange (PSE) showed that Bloomberry was the most actively traded stock last week, with 702 million shares worth P4.13 billion changing hands.
Shares of the Razon-led company closed at P6.18 on Friday, up 23.6% from P5 the previous week. The stock outperformed the services index, which declined by 0.5%, and the benchmark PSE index, which fell by 0.2%.
Year to date, the listed casino operator has gained 34.9%, outpacing the services sector’s 6.6% growth and the PSEi’s 2.04% decline.
The market was closed on Thursday in observance of Independence Day.
Bloomberry launched MegaFUNalo last week, entering the digital gaming space alongside established license holders such as BingoPlus, operated by Digiplus Interactive Corp.
The launch aligns with Bloomberry’s previously disclosed online gaming development strategy outlined in its annual report.
The new platform expands the company’s digital portfolio, complementing Solaire Online, which focuses on live gaming and integration with physical casino operations.
China Bank Securities Corp. Research Associate Ralph Jonathan B. Fausto said Bloomberry’s rally reflects investor optimism about its digital expansion strategy, though sustainability will depend on performance indicators.
“Focus is also expected to shift toward the magnitude of promotional efforts incurred during the rollout phase and the extent to which advertising and promotional spending have translated into meaningful topline contribution,” Mr. Fausto said in an e-mail message.
Mercantile Securities Corp. Head Trader Jeff Radley C. See said Bloomberry may sustain its rally despite some selling pressure triggered by concerns over the performance of Solaire Resort North and its potential bottom-line impact.
“The theme for the gaming industry is their eGaming platforms. Other gaming companies will most likely follow suit,” Mr. See said in a Viber message. “Investors will have to wait and see on the results, whether MegaFUNalo can get market share.”
Mr. Fausto said investors should also monitor the ramp-up of Solaire Resort North, noting that stronger earnings could offset associated costs and enhance bottom-line performance.
In a press release, Bloomberry Chairman and Chief Executive Officer Enrique K. Razon, Jr. said Solaire Resort North continued to gain momentum, posting a 29% sequential increase in gross gaming revenue (GGR), contributing P1.1 billion to consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA).
The property features 13,000 square meters of mass and VIP gaming space, 526 guest rooms, 14 restaurants and bars, and a 1,800-square-meter grand ballroom with a capacity of more than 1,600 guests.
The hotel and casino generated P4.6 billion in GGR in the first quarter of 2025.
“Upside may also materialize from Solaire Entertainment City should early indicators of a rebound in VIP segment activity emerge, despite the prevailing softness in inbound tourism, particularly from Asian players,” Mr. Fausto added.
GGR from Solaire Entertainment City declined by 17.6% to P12.15 billion due to lower volumes and hold rates in both VIP and electronic gaming machine segments.
Bloomberry’s attributable net income rose by 25.5% year on year to P3.32 billion in the first quarter, while consolidated revenues increased by 15.3% to P14.29 billion.
Mr. Fausto projected continued earnings growth, forecasting net income to rise to P3.2 billion in 2025 and P4.5 billion in 2026, driven by “sustained earnings momentum from Solaire North as it progresses toward steady-state operations.”
At the EBITDA level, he projected increases to P18.4 billion and P19.3 billion, reflecting “the underlying strength of core operations.”
Mr. Fausto pegged immediate support at P5.30 and resistance at P6.70.
Mr. See placed resistance at P6.36 and P7.37, and support at P5.68 and P4.93. — Pierce Oel A. Montalvo
