Razon's Bloomberry eyes placing bet on Taiwan, Japan gaming


Posted at Jun 10 2015 03:18 PM | Updated as of Jun 10 2015 11:28 PM

MANILA – Bloomberry Resorts Corp. is looking to Taiwan as a possible overseas venture as the firm continues to expand its gaming business in Asia.

Bloomberry chairman Enrique Razon said the company may bring its business to Taiwan “if it legalizes gaming.”

Bloomberry recently expressed plans to invest more than $1 billion in an integrated casino complex in South Korea.

Aside from Korea and Taiwan, Bloomberry also remains interested in expanding its business to Japan.

"There is a law now in parliament. We are watching it closely to see if it passes this session. If it passes, Japan of course will be an exciting market," Razon said.

Razon expressed optimism on the Philippine and Asia gaming markets as more governments take a closer look into the economic potential of the booming integrated resort and gaming business.

Meanwhile, Bloomberry is expecting to open the 10,000-square meter high-end retail wing The Shoppes by the end of the year.

The Shoppes is located at the recently opened Sky Tower at the Solaire Resorts and Casino at the Entertainment City in Paranaque.

Solaire will also be opening a club, KTV and additional gaming facilities within the year.

Bloomberry incurred a net loss of P533 million in the first quarter of 2015, a reversal from the P1.46 billion net profit in the same period last year as higher depreciation and other expenses related to the opening of the Sky Tower.

Razon said it is “too early to say” if the firm will return to profit this year.