Bloomberry sees rise in Chinese visitors; shelves Jeju sale

Philippine casino operator Bloomberry Resorts saw an increase in Chinese visitors last month, suggesting President Rodrigo Duterte’s lean towards Beijing has started to benefit business, local media reports.

According to Bloomberry chairman Enrique Razon, Chinese arrivals at its Solaire casino in Manila rose nearly 140 percent in November and 80 percent in October compared with the same months last year.

"You can more or less attribute that directly to the improved [bilateral] relation," he told reporters on Thursday.

Duterte made a four-day trip to China in October, which observers say marked a turning point for bilateral relations.

During the visit, China also lifted a travel ban imposed on the Philippines.

South Korean sale shelved

Regarding Bloomberry Resorts’ interests in Korea, it is understood that the operator has shelved its plan to divest its interest in Jeju Sun Hotel & Casino, after its sale with Iao Kun Group Holdings Ltd. fell through.

Last month, Bloomberry said in a filing: “Iao Kun failed to raise the funding necessary to consummate the sale of Jeju Sun,” and as of September 30, 2016, “it has rejected Iao Kun’s request to extend the closing and payment date of the transaction.”

According to the Inquirer, Razon said Bloomberry was “not in a hurry” to look for new buyers.

 

“We had a sale already done but it fell through. But business is starting to pick up so we are not in a rush,” he said in an interview.

More news from this jurisdiction

Philippines, South KoreaTuesday, Jan 05, 2016

A 40-year-old South Korean man was received by Korean police on Tuesday, Jan 4, after being extradited from the Philippines by local authorities, local media reports.

Philippines, Taiwan, South KoreaThursday, Jun 11, 2015

Bloomberry Resorts, the owner of the Solaire Resort & Casino in Manila, would be interested in possible opportunities in Taiwan if the government there approves regulation legalizing casinos.

PhilippinesThursday, Jul 20, 2017

A Singaporean woman has been rescued by Filipino authorities after being kidnapped by three men and a woman at Solaire Resort and Casino on Tuesday.

PhilippinesThursday, Jul 20, 2017

The Philippines Charity and Sweepstakes Office is planning to cut funding to the Philippine National Police (PNP), because of what they describe as PNP’s ‘anemic’ performance in their campaign against illegal gambling.

South KoreaWednesday, Jul 19, 2017

Korea’s foreigner-only casinos bounced back after seeing declines in 2015, registering a 2.6 percent increase in turnover in 2016 - reaching KRW1.3 trillion.

PhilippinesThursday, Jul 13, 2017

The Udenna Group, developer of the Lapu-Lapu Leisure Mactan integrated resort, is set to complete the funding requirements needed for development.

PhilippinesSunday, Jul 09, 2017

Philippines gross gaming revenue is expected to grow 26 percent year-on-year in 17Q2, driven by proxy betting attracting foreign VIP revenues, along with a low sequential growth in mass, says Morgan Stanley.