Hotel and casino operator Bloomberry Resorts Corp. has completed the sale of its hotel and casino property on Jeju Island, South Korea, for 10 billion South Korean won (P398 million).
Bloomberry said in a disclosure to the stock exchange that its South Korean indirect subsidiary, Golden & Luxury Co. Ltd., has completed the transfer of its gaming license and business on Jeju Island to a new company, Heaven Co. Ltd.
The buyer, renamed Blue One Ltd., has paid 7 billion won as part of the purchase price. The remaining balance of 3 billion won will be settled on or before Feb. 27, 2027.
Heaven Co. will continue operating the casino within the premises of Golden & Luxury on Jeju Island under a lease agreement while searching for a permanent site for its gaming operations. Golden & Luxury will also continue to run its hotel and food and beverage outlets at the property.
The sale marks the end of Bloomberry’s overseas gaming venture, which began in 2015 with the acquisition of the property formerly known as T.H.E. Hotel & LVegas Casino. The hotel was later rebranded as Jeju Sun Hotel & Casino.
Jeju Sun Hotel & Casino, which is five minutes from Jeju International Airport, has 208 rooms and suites, 2,125 square meters of gaming space, dining options, a bar and lounge, and an events space.
Jeju Sun registered P6.2 million of gross gaming revenue in the first six months of 2025, P45.1 million lower than the same period last year. The hotel and food and beverage operation generated revenue of P183.3 million in the first half of 2025, a slight increase of 1.1 percent.
Bloomberry has been trying to sell its casino business in South Korea, which continues to struggle following the pandemic.
