Bloomberry firms up overseas business, buys South Korea property

Bloomberry Resorts Corp., the operator or Solaire Resort & Casino in the Entertainment City,  is acquiring parcels of land in Muui Island, South Korea, firming up its first foray overseas.

 

The company has signed four real estate sales agreement with several landowners for the purchase of land with an aggregate area of 12.2 hectares located in Muui Island, it said in a disclosre to the Philippine Stock Exchange Monday.

 

"The property is within the coverage of the Incheon Free Economic Zone and is intended to be developed into a leisure and tourism complex with entertainment facilities and mixed use developments," the disclosure read.

 

The parcels of land will be acquired under Solaire Korea Co., Ltd., its Korean subsidiary company.

 

Controlled by billionaire port operator Enrique Razon, Bloomberry is one of the licensees in Philippine Amusement and Gaming Corp.'s (Pagcor) Entertainment City.

 

The other licensees in Entertainment City are Andrew Tan's Travellers International Hotel Group Inc. and Kazuo Okada's Tiger Resorts Leisure and Entertainment Inc. —Danessa Rivera/NB, GMA News