Bloomberry exits South Korean gaming market with completed casino sale
Wednesday 04 de March 2026 / 12:00
⏱ 1 min read
(Manila).- Bloomberry Resorts Corp. has completed the sale of its loss-making casino operations in Jeju Island, marking its exit from its overseas gaming business. The tycoon Enrique Razon Jr.-led firm told the exchange that its indirect unit Golden & Luxury Co. Ltd. had signed a share purchase agreement with Gangwon Blue Mountain Co. Ltd. as part of an earlier plan to spin off its casino business.
Bloomberry Resorts Corp. has finalized the divestment of its struggling casino operations in Jeju Island, effectively signaling its withdrawal from international gaming ventures.
The company, helmed by tycoon Enrique Razon Jr., informed the stock exchange that its indirect subsidiary, Golden & Luxury Co. Ltd., executed a share purchase agreement with Gangwon Blue Mountain Co. Ltd.
This transaction forms part of Bloomberry’s earlier strategy to streamline its portfolio by spinning off non-core and loss-making assets. With this move, the firm is expected to sharpen its focus on its profitable domestic operations, particularly its flagship Solaire Resort & Casino in Manila, while reducing exposure to overseas risks and consolidating resources for future growth initiatives.
The demerger covering the gaming license and operations of Jeju Sun has already been completed, with the business transferred to a new company, Heaven Co. Ltd.
The buyer—now called Blue One Ltd.—has paid 7 billion Korean won for the shares of Heaven Co. Ltd., with the transfer finalized on March 4, 2026.
The deal
Under the agreement, the buyer still has a remaining balance of 3 billion won on the purchase price, which will be settled on or before Feb. 27, 2027, Bloomberry said.
Following the transaction, Heaven Co. Ltd. will continue operating the casino at the property owned by Golden & Luxury on Jeju Island under a lease arrangement while it searches for a new site for its gaming operations.
Categoría:Casino
Tags: Sin tags
País: Philippines
Región: Asia
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