March 17, 2015

Bloomberry to buy south Korean casino resort

Bloomberry Resorts the Philippine gaming compnay said it would be acquiring a South Korean Casino Hotel in its first ever venture overseas. The company said it had purchased 92% of Golden & Luxury Co. Ltd the owning firm on T.H.E Hotel & Vegas Casino on the southern island of Jeju.
T.H.E Hotel & Casino is one of seven casinos located on Jeju island a popular vacation destination for Chinese.

Bloomberry chairman and chief executive Enrique Razon said in a statement. “This is our first venture outside of the Philippines, and the possibilities for expansion in this country are promising.”

Bloomberry owns and operates the $1-billion Solaire Resort and Casino in Manila Bay that the government hopes will rival Macau and Las Vegas. “Solaire is on a trajectory of growth and we are now slightly shifting our focus to other destinations,” said Razon.

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