Bloomberry Resorts Corporation is a holding company for its subsidiaries which provide lodging and leisure services, including casinos. The company was the first to open an integrated resort in the Philippines in Manila’s Entertainment City district in 2013. The Solaire Resort & Casino possesses a casino floor space of about 18,500 square meters. The property completed a major expansion with the opening of its SkyTower a year later. In 2015, Bloomberry expanded into South Korea, acquiring the Jeju Sun Hotel & Casino. It is planning to build a second resort in the Philippines in Quezon City, north of Metro Manila.
Bloomberry Resorts have made several statements of interest in expanding into the Japan IR market, with Wakayama as its clear focus.
Family Name: Razon
Given Name: Enrique K.
Role: Chairman and CEO
Profile: Razon is a Filipino billionaire and one of the richest men in his country. His primary business is International Container Terminal Services, a Manila-based port management firm. From 2009, Bloomberry Resorts Corporation won a license to build a casino in Entertainment City in Manila, which has added substantially to Razon's fortune.
Family Name: Hojo
Given Name: Takeshi
Role: President and CEO, Bloomberry Resorts Japan
Profile: Hojo spent most of his career in the Marubeni Corporation, including a long posting in the Philippines, where he became a prominent member of the Japanese community in Manila. From 2001 to 2014, he served as director of Philippine Society of Japan. More recently, he has been employed by Bloomberry Resorts to lead its Japan branch.
Family Name: Kiriyama
Given Name: Mitsuaki
Role: Vice-President of Bloomberry Resorts Japan
Profile: Kiriyama has had a varied career in tourism promotion, entertainment, as well as a long stint as a gaming industry magazine writer. He has been serving in recent years as a key advisor and promoter for Bloomberry Resorts' IR efforts in Japan.
The Philippines, which is home to more than 7,600 islands, is aiming to ramp up its cruise tourism industry.
Suncity Group Executive Director John Au Chung On made clear at a symposium on Monday that his company was planning to make an IR bid in Japan, and that Wakayama was a location that they are focusing on.
Macau-based Suncity Group, mainly known as a giant in the junket industry, has signaled its interest in joining the Japan IR race by deploying an executive director to speak at a symposium in Wakayama in late August.
Bloomberry Resorts, the operator of the Solaire Resort & Casino in Manila, saw its consolidated net income plunge by 40% in the first quarter of 2018 due to lower foreign exchange gains, higher interest expenses, and weaker gaming revenues.
Bloomberry Resorts plans to start construction of a US$308 million cruise port in Parañaque City in the third quarter of the year, local media reported Chairman and CEO Enrique Razon as saying on the sidelines of the group’s annual shareholder meeting.
The Philippine Amusement and Gaming Corporation (PAGCOR) has again hit out at Quezon City’s acting mayor over her stance towards a planned integrated resort in the area, saying she should have played a more active role during the planning process.
Rizal Commercial Banking Corp (RCBC) is fighting back against a civil suit filed by the Bangladesh central bank seeking damages for a 2016 cyber heist, issuing its own legal action for defamation.
Bloomberry Resorts, operator of the Solaire Casino & Resort, posted record EBITDA and net profit for 2018, driven by record gross gambling revenues across all segments.
Bloomberry Resorts said its gaming unit has been cited in a US civil case attempting to recover funds stolen from Bangladesh’s central bank.
The Wakayama IR Business Connect Seminar was held on the late afternoon of the 19th and was successful in drawing interest from a large cross-section of the local business community, as well as domestic and international media.
The upcoming Wakayama IR Business-Connect Seminar has been fully subscribed, attracting over 200 companies from the Wakayama as well as greater Kansai Region.
Bloomberry Resorts said two of its units have signed an accord for a ten-year, 40 billion piso (about US$767 million) loan to finance the construction of an integrated resort in Quezon City.
The Wakayama Prefectural government has officially endorsed the upcoming IR Business Connect Seminar being held on 19 February 2019 at the Daiwa Roynet Wakayama. This marks the events inauguration as an official event by Wakayama Prefecture and will be held in conjunction with the Wakayama Chamber of Commerce.
This past weekend, Bloomberry Resorts Japan was the sole “special sponsor” for the 1st Annual Wakayama Santa Run held outside Wakayama Castle, tightening its links with the community where its IR ambitions appear to be centered.
The four Asia-based IR operators aiming for a license in the Japanese market—Galaxy, Melco, Genting, and Bloomberry—posted mixed results in the July-September period, even as predictions of a slowdown in the Asian gaming industry abounded.
Bloomberry Resorts said one of its units has bought 300,000 shares to be used as “rewards” to loyal customers at its Solaire Resort & Casino in Manila.
Bloomberry Resorts said it has completed the acquisition of the land plots on which its Solaire Resort & Casino is situated.
Philippines-based Bloomberry Resorts, the operator of the Solaire Resort in Manila, was an early mover on seeking an IR license in Japan, and their main interest appears to have converged on Wakayama’s Marina City location.