The Philippine operator has finalised the sale of operations at the Jeju Sun casino.
South Korea.- Philippine casino operator Bloomberry Resorts Corporation has completed its exit from South Korea’s casino market on Jeju Island after finalising the sale of the business at Jeju Sun Hotel & Casino to a local buyer.
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. The shares of the new company were subsequently sold to local firm Blue One Ltd for KRW7bn (US$4.78m).
Bloomberry’s indirect subsidiary Golden & Luxury Co Ltd signed a share purchase agreement to divest the Jeju casino operations in October 2025. 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.
Bloomberry acquired the property in 2015. The casino struggled to deliver strong financial results, partly due to the restrictions of the country’s foreign-only gaming model, under which most casinos cannot serve local players. Bloomberry chairman and CEO Enrique K. Razon Jr. had previously described the Jeju investment as a misstep, noting that the island’s dependence on international tourism left the business vulnerable during the pandemic.
The sale allows the company to refocus on its core operations in the Philippines, including its flagship integrated resort brand Solaire. The only venue permitted to accept domestic patrons in South Korea is Kangwon Land Casino, located in Gangwon Province.
The Philippine operator has finalised the sale of operations at the Jeju Sun casino. South Korea.- Philippine casino operator Bloomberry Resorts Corporation has completed its exit from South Korea’s casino market on Jeju Island after finalising the sale of the business at Jeju Sun Hotel & Casino to a local buyer. In a regulatory filing…
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