Bloomberry not selling its Korean casino anymore

Bloomberry Resorts Corporation is no longer selling its controlling stake in Jeju Sun Hotel & Casino in Jeju Island, South Korea as its operations are improving and on its way to being profitable. At the sidelines of the ASEAN Business Investment Summit 2017, Bloomberry Chairman Enrique L. Razon Jr. said “it’s not for sale anymore” as it is seen to be breaking even soon. This is after Bloomberry disclosed last week that Jeju Sun has reported positive EBITDA (earnings before interest, taxes, depreciation and amortization) for the first time since its acquisition in 2015. Bloomberry reported a 436 percent year-on-year increase in Jeju Sun’s GGR (gross gaming revenues) to R151 million during the third quarter. (JAL)