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Financial services firm Nomura Group has raised its earnings estimates for Solaire Resort & Casino operator Bloomberry Resorts Corp by up to 39% after the company’s 3Q20 results, released earlier this week, suggested a faster than expected recovery.
Bloomberry reported a six-fold increase in gross gaming revenue at Solaire in the third quarter to Php4.4 billion (US$91.3 million), up from Php686.6 million (US$14.1 million) in 2Q20, after Philippines gaming regulator PAGCOR granted permission in August for Manila’s four integrated resorts to reopen at 30% capacity.
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