Bloomberry expands in Korea

MANILA, Philippines - Integrated resort operator Bloomberry Resorts Corp. of port magnate Enrique Razon Jr. is jumpstarting the expansion of its casino business with its first international foray in South Korea.

In a disclosure to the Philippine Stock Exchange, Bloomberry said it has signed four real estate agreements with several landowners for the purchase of a combined 12.2-hectare property in Muui Island.

The firm behind Solaire Resort and Casino in Entertainment City said the Korea property, located within the Incheon Free Economic Zone, would be acquired through its Korean subsidiary Solaire Korea Co. Ltd.

“The property is intended to be developed into a leisure and tourism complex with entertainment facilities and mixed-use developments,” Bloomberry said.

“More details will be disclosed as soon as conditions of the agreements are complied with,” the company added.

Bloomberry’s $1-billion Solaire Resort and Casino is the first of four integrated resorts that opened in Entertainment City.

The company in November last year opened a new leisure complex in Solaire called Sky Tower as part of the integrated resort’s $500-million Phase 1A expansion.

Sky Tower includes a 312-all suite hotel, additional VIP gaming areas, an exclusive Chinese restaurant and whisky and cigar bar for VIP gamers, state-of-the-art meeting rooms, and a 1,760-seat lyrical theater.

This year, Bloomberry is eyeing to open in stages the retail expansion of Solaire.