Another country has been added to Bloomberry Resorts’ growing list of potential new ventures as the leisure and gaming company eyes expanding its operations outside of the Philippines.
In a filing to the Philippine Stock Exchange, Bloomberry named Vietnam and Japan among the “several prospective jurisdictions” it is eyeing at the moment, although the company stressed that an overseas expansion won’t happen anytime soon.
“Vietnam and Japan are just some of several prospective jurisdictions outside the Philippines that the corporation is looking at, but there is nothing definitive at this point,” according to Bloomberry.
The announcement comes after Bloomberry chairman Enrique Razon Jr was quoted by the Philippine Star saying “he is interested in expanding his casino operations in the Asian region, depending on how the respective regulatory environments would turn out.”
The casino magnate identified Vietnam and Japan as his targets for a possible new venture abroad, although Razon told the news outlet “it all depends on these countries’ final regulation governing casinos and gaming.”
As it happens, Razon is in luck. Vietnam is set to
In Japan’s case, the Philippine-listed casino operator has been signaling its interest to bring its casino brand to the island nation—after Japanese legislators legalize its nascent casino market. The Diet, however, postponed plans to approve the Integrated Resorts Implementation Bill until 2018 due to Prime Minister Shinzo Abe’s snap election call. That bill is needed to lay out the specifics of casino regulation, following the 2016 approval of a legislation to amend the national constitution to allow casino gambling in the country.
Bloomberry owns and operates the Solaire Resort and Casino in Manila, as well as the Jeju Sun Hotel and Casino on South Korea’s Jeju Island. The Jeju property was initially slated to be sold, but Razon said he has had a change of heart after business in Jeju picked up and the establishment “is now breaking even.”
In the Philippines, Bloomberry said it will also build a second casino in Manila, which will cater to mass market locals who don’t have easy access to Solaire.
