Your Daily Asia Gaming eBrief: Bloomberry returns to profit in 2022

Friday 3rd of March 2023

Good morning. The work week is ending on a high note! Strong performance at Solaire in the Philippines drove Bloomberry back into the black, with profit reaching $92.3 million. And the group also announced it's going to open its delayed Solaire North IR in 1Q24. Meanwhile, this year is going well for Macau operators, with Wynn seeing even stronger results in February than in January, according to analysts. And Macau's attempt to set up foreigner-only gaming zones is progressing, with two operators already awaiting watchdog approval.

What you need to know

Bloomberry returns to profit in 2022, with its Philippines operations outshining the downturn in its Korean segment.
Wynn Macau's February results topped analyst expectations, outperforming even January, despite Chinese New Year.
Foreigner-only gaming zones at Venetian and Melco currently under evaluation by Macau's gaming watchdog, says scholar.

On the radar

Paradise Co records 162 percent yearly casino revenue increase in Feb.
Everi Holdings records record-high 4Q22 revenue and adjusted EBITDA.
Premium Leisure: 20% increase in '22 gaming revenue from COD Manila.

AGB Intelligence

PHILIPPINES

Bloomberry returns to profit in 2022

Bloomberry's Philippines operations delivered strong results, returning the company to profit in 2022, despite a drag from its South Korean casino. Solaire contributed strongly to the group's 174 percent spike in EBITDA, boosted by an 80 percent increase in revenue, as punters flooded back. The group also announced it's planning to open its new resort Solaire North, in 1Q24.