Bloomberry considers selling Jeju business

Philippine casino operator Bloomberry Resorts said it is considering selling its Jeju business, which could “eliminate the drag on its operations.”

The casino operator made the comments in a media clarification filing to the Philippine Stock Exchange last week.

Bloomberry said it was “in the thick of discussions to sell the Jeju business, thereby eliminating the drag on its operations,” however, the operator mentions that no agreement has been signed yet with respect thereto to date.

The operator also mentioned it was just one of the options being considered to “plug the financial hemorrhage from South Korea.”

During a recent stockholders meeting, Enrique Razon Jr. said the group was hoping the Korean operations would be profitable within the year.