Bloomberry Resorts Corp plans to invest more than US$1 billion in a casino resort complex in South Korea and is in talks with a potential local partner for the project, company chairman Enrique Razon said on Thursday, according to Reuters.
The Philippine gaming firm last month signed deals to buy an island within Incheon Free Economic Zone near the South Korean capital Seoul, and a casino operator in that country, firmly signalling its ambitions for overseas expansion.
Previously, in January, Bloomberry said it was purchasing 12.2 hectares (30.1 acres) of land on Muui Island, also part of the Incheon special zone.
Bloomberry is owner and operator of a US$1.2-billion casino property called Solaire Resort and Casino, which opened in March 2013 at Manila Bay in the Philippines capital.
It was the first of four private sector casino projects in Entertainment City, a casino zone promoted by the local gaming regulator, the Philippine Amusement and Gaming Corp, known as Pagcor.
The second, City of Dreams Manila, operated by a local unit of Macau casino developer Melco Crown Entertainment Ltd, had its official opening on February 2.
Oct 28, 2021State-run Philippine Amusement and Gaming Corp (Pagcor) reported net income of nearly PHP104.9 million (nearly US$2.1 million) in the three months to September 30, it said in a Thursday statement....
”This transaction [sale of the lottery business] is transformative in accelerating the delivery of our stated strategy to optimise our portfolio, aggressively de-lever our balance sheet and position us to invest in future growth”
President and chief executive of Scientific Games