By Kris M. Crismundo
MANILA, June 10 (PNA) — Bloomberry Resorts Corp., the owner and operator of Solaire Resorts and Casino, is optimistic in its local business as well as expanding in East Asian markets.
Bloomberry Chair and Chief Executive Officer Enrique K. Razon Jr., on the sidelines of the firm’s annual stockholders’ meeting on Wednesday, told reporters that the company considers markets of Japan and Taiwan if the two countries will legalize the gaming industry.
Bloomberry has expanded in South Korea after it acquired 92-percent stake of Golden & Luxury Co. Ltd. which owns and operates T.H.E. Hotel & Vegas Casino in Jeju Island.
“We will start [operation in Jeju Island] definitely this year after doing some renovation work,” said Razon.
He said Bloomberry is optimistic with its business in Jeju Island with the four-million tourist arrivals in the island.
Aside from Jeju Island, the resort and casino operator is pursuing business in Incheon, South Korea.
For the local market, Razon noted that infrastructure development will play significant role in the country’s hotel and gaming businesses.
“We push for airport improvement, expansion of landing capacity and passenger handling capacity. The NAIA Expressway, we also pushed for that,” he said.
Infrastructure developments in the vicinity of Ninoy Aquino International Airport (NAIA) will improve linkage to Manila’s Entertainment City where Solaire and other resort and casino businesses are located.
“The government’s role is infrastructure [development] and our role is the actual destination for tourists,” he added.
Meanwhile, Bloomberry registered a Php533 million net loss in the first quarter of 2015 due to increase in total expenses resulting from the completion of its Sky Tower.
“Overtime, as we grow revenue, we can recover that [loss],” Razon noted. (PNA)