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Bloomberry sale of South Korea casino falls through

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ABS-CBN News

MANILA - The sale of Bloomberry Resorts Corp.&#x27;s Jeju casino property in South Korea will no longer push through after talks with a Macau junket operator fell through, company chairman Enrique Razon said.&quot;We had sale already done but it fell through. But business is starting [to] pick up so we are not in a rush,&quot; he said.Bloomberry earlier said it agreed with Iao Kun Group Holding Company Limited on the sale by Solaire Korea Co. Ltd. of its 96.23 percent shareholding in Golden &amp; Luxury Co. Ltd., the owner and operator of the <a href="http://news.abs-cbn.com/business/06/23/16/bloomberry-sells-casino-property-in-south-korea">Jeju Sun Hotel &amp; Casino</a>.Bloomberry, the operator of Solaire Casino, sustained its <a href="http://news.abs-cbn.com/business/11/14/16/solaire-operator-bloomberry-swings-to-net-profit-in-jan-sept">return to profit</a> this year despite its failure to sell the casino venture in South Korea. The company said it posted net profit of P1.6 billion in the January to September period, from a net loss of P1.5 billion during the same period last year. Bloomberry shares were down 1.56 percent to P6.30 on Friday.

MANILA - The sale of Bloomberry Resorts Corp.'s Jeju casino property in South Korea will no longer push through after talks with a Macau junket operator fell through, company chairman Enrique Razon said.

MANILA - The sale of Bloomberry Resorts Corp.'s Jeju casino property in South Korea will no longer push through after talks with a Macau junket operator fell through, company chairman Enrique Razon said.