Bloomberry Resorts: No deal yet for Jeju casino sale
RAZON-LED Bloomberry Resorts Corp. said it is open to selling its stake in Jeju Sun Hotel & Casino in South Korea.
“Bloomberry hereby clarifies that it is open to the possibility of selling its interest in Jeju Sun Hotel & Casino and there had been several expressions of interests and offers in the past,” the company said in a stock exchange disclosure on Thursday.
Bloomberry said there is no deal yet regarding the sale of Jeju Sun Hotel & Casino.
“There is no imminent deal with respect to the sale of Jeju Sun Hotel & Casino although there is growing interest in the property from potential buyers,” the company said.
In June 2016, the company agreed to sell its 96.23% stake to Iao Kun Group Holdings for $102.5 million. However, in December of that year, Bloomberry Chair and Chief Executive Officer Enrique K. Razon, Jr. said that the sale of Jeju Sun Hotel & Casino did not push through.
Bloomberry previously said that Jeju Sun Hotel & Casino recorded P14.7 million in gross gaming revenue for the third quarter of 2023, a P10 million increase compared to the previous quarter.
According to Bloomberry’s website, Jeju Sun Hotel & Casino is five minutes away from Jeju International Airport and 30 minutes away from Jeju’s most visited tourist attractions. It features over 200 rooms and a casino with 47 table games and 39 slot machines.
Bloomberry shares dropped by 3.44% or 40 centavos to P11.22 per share on Thursday. — Revin Mikhael D. Ochave
