{"id":777038743,"date":"2026-03-05T08:58:05","date_gmt":"2026-03-05T11:58:05","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777038743"},"modified":"2026-04-21T13:48:27","modified_gmt":"2026-04-21T16:48:27","slug":"bloomberry-completes-exit-from-south-koreas-jeju-casino-market","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bloomberry-completes-exit-from-south-koreas-jeju-casino-market","title":{"rendered":"Bloomberry completes exit from South Korea\u2019s Jeju casino market"},"content":{"rendered":"\n

The Philippine operator has finalised the sale of operations at the Jeju Sun casino.<\/p>\n\n\n\n\n\n\n\n

South Korea.- Philippine casino operator Bloomberry Resorts Corporation<\/strong> has completed its exit from South Korea\u2019s casino market on Jeju Island after finalising the sale of the business at Jeju Sun Hotel & Casino<\/strong> to a local buyer.<\/p>\n\n\n\n

In a regulatory filing with the Philippine Stock Exchange, the company confirmed that the corporate demerger of its casino operations had been completed, transferring the gaming licence and business to a new entity, Heaven Co Ltd<\/strong>. The shares of the new company were subsequently sold to local firm Blue One Ltd for KRW7bn (US$4.78m).<\/p>\n\n\n\n

Bloomberry\u2019s indirect subsidiary Golden & Luxury Co Ltd signed a share purchase agreement to divest the Jeju casino operations in October 2025<\/a>. The company retains ownership of the real estate assets at the property, including the hotel, food and beverage outlets and the gaming space itself. Heaven Co will operate the casino under a lease agreement at the existing site until it secures a new location.<\/p>\n\n\n\n

Bloomberry acquired the property in 2015. The casino struggled to deliver strong financial results, partly due to the restrictions of the country\u2019s foreign-only gaming model, under which most casinos cannot serve local players. Bloomberry chairman and CEO Enrique K. Razon Jr.<\/strong> had previously described the Jeju investment as a misstep, noting that the island\u2019s dependence on international tourism left the business vulnerable during the pandemic. <\/p>\n\n\n\n

The sale allows the company to refocus on its core operations in the Philippines, including its flagship integrated resort brand Solaire<\/a>. The only venue permitted to accept domestic patrons in South Korea is Kangwon Land Casino, located in Gangwon Province.<\/p>\n\n\n\n

<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> South Korea\u2019s Paradise Co casino revenue rises 24% in February<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The Philippine operator has finalised the sale of operations at the Jeju Sun casino.<\/p>\n","protected":false},"author":680,"featured_media":21007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Philippine operator Bloomberry Resorts Corporation has finalized its exit from South Korea's casino market by selling the operations of Jeju Sun Hotel & Casino to Blue One Ltd via a corporate demerger and license transfer to Heaven Co Ltd. Bloomberry retains the real estate assets, leasing the gaming space, and will refocus on its core Philippine integrated resort operations, citing the Jeju property's underperformance due to South Korea's foreign-only gaming model and pandemic-induced tourism declines.","focusai_entities":"Bloomberry Resorts Corporation, Jeju Sun Hotel & Casino, Heaven Co Ltd, Blue One Ltd, Golden & Luxury Co Ltd, Enrique K. Razon Jr., Solaire, Kangwon Land Casino, Paradise Co","focusai_location":"South Korea, Jeju Island, Philippines, Gangwon Province","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Bloomberry's Capital Reallocation","query":"What is the projected impact of this divestment on Bloomberry's consolidated GGR and NGR, and how will the freed capital be redeployed to enhance shareholder value within its Philippine integrated resort portfolio?"},{"label":"South Korea's Gaming Model","query":"How does South Korea's foreign-only gaming model influence the long-term viability and investment attractiveness for international operators, particularly given the post-pandemic recovery trajectory of inbound tourism?"}],"footnotes":""},"categories":[28,16338],"tags":[15417,25151,152],"class_list":["post-777038743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","tag-bloomberry-resorts","tag-jeju-sun-hotel-casino","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777038743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/680"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777038743"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777038743\/revisions"}],"predecessor-version":[{"id":777038771,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777038743\/revisions\/777038771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21007"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777038743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777038743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777038743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}