{"id":322557,"date":"2023-04-05T01:34:09","date_gmt":"2023-04-04T17:34:09","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=322557"},"modified":"2023-04-05T02:08:39","modified_gmt":"2023-04-04T18:08:39","slug":"china-reopening-is-good-for-bloom","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/china-reopening-is-good-for-bloom\/","title":{"rendered":"China reopening is good for BLOOM"},"content":{"rendered":"\n
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Analysis and Recommendation<\/h2>\n\n\n\n

The Philippine Amusement and Gaming Corp (PAGCOR) recently shared their forecast for a 33% jump in gross gaming revenues (GGR) to Php245 Billion this year. This figure represents a 33% growth over the Php184 Billion of GGR in 2022 and is just a tad shy of the Php248 Bn of GGR generated in 2019. In 2022, licensed casinos accounted for 78% of PAGCOR\u2019s total GGR with BLOOM’s Solaire Entertainment City accounting for 68% of the total pie.<\/p>\n\n\n\n

Our view: <\/strong>The Philippine gaming and tourism sectors have been one of the main themes for 2023 given the much-anticipated reopening of the Chinese economy. The gaming activity during the first quarter confirms this thesis and warrants a hold at the very least for the likes of BLOOM.<\/p>\n\n\n\n

BLOOM has been our top pick for the gaming sector given how profitable, resilient and efficient its operations have been in 2022 even without the boost coming from foreign visitors. The projections for a 33% growth coming from PAGCOR should be a good baseline for Solaire in 2023 and may cause upward revisions in BLOOM\u2019s 2023 estimates. <\/p>\n\n\n\n

Consensus expects Solaire\u2019s revenue and net income to grow by 15% and 26%, respectively, for 2023. We have a Php15.00 price target for BLOOM, still offering a huge upside from its last traded price.<\/p>\n\n\n\n

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This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a commentary on an important issue or event affecting the stock market<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-322557","post","type-post","status-publish","format-standard","hentry","category-special-reports","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/322557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=322557"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/322557\/revisions"}],"predecessor-version":[{"id":322579,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/322557\/revisions\/322579"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=322557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=322557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=322557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}