South Korea – Bloomberry secures land for Korean projectBy Phil - 28 January 2015
Philippine’s operator Bloomberry Resorts has confirmed it will develop a casino and entertainment complex in South Korea, marking its first overseas project.
The project will carry the Soliare brand that Bloomberry utilised with the $1.2bn Solaire casino resort in Manila.
Bloomberry stated: “Bloomberry Resorts has signed a four real estate agreement with several landowners for the purchase of land with an aggregate of 12.2 hectares located in Muui Island in the Republic of Korea. The property is within the coverage of the Incheon Free Economic Zone and is intended to be developed into a leisure and tourism complex with entertainment facilitates and mixed use developments. The property will be acquired under Solaire Korea, a Korean subsidiary company of Bloom.”
Bloomberry decided not to give any details with regards to the levels of investment it would make in Korea.
Silverio Benny Tan, Bloomberry’s Corporate Secretary, said: “We will prepare the plan, we have to comply with Korean regulatory requirements.”