Bloomberry Resorts may be hit by higher advertising and promotion spending, CGS International's Andrea Marielle Oliveros says in a research report. At the company's 1Q earnings call, management guided for A&P spending to ramp up in 2H, ahead of the full launch of its 'FUNaloMax' online gaming platform in 3Q. Management also said its hotel and gaming resort Solaire Entertainment City's premium gaming revenues remain soft owing to weaker Chinese and Korean player activity. The brokerage cuts its 2026 and 2027 revenue forecasts for the Philippine integrated resorts operator by 6% and 4%, respectively. It lowers the stock's target price to 1.92 pesos from 2.48 pesos with an unchanged hold rating. Shares are 2.1% higher at 1.94 pesos. (ronnie.harui@wsj.com)
Dow Jones Newswires
Bloomberry Resorts May Be Hit By Higher Advertising and Promotion Spending — Market Talk
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Bloomberry Resorts may be hit by higher advertising and promotion spending, CGS International's Andrea Marielle Oliveros says in a research report. At the company's 1Q earnings call, management guided for A&P spending to ramp up in 2H, ahead of the full launch of its 'FUNaloMax' online gaming platf…