Bloomberry Resorts Corporation has confirmed its decision to divest from its South Korean casino, Jeju Sun, aiming to bring focus back to its more profitable ventures. On October 27, 2025, the company announced that its indirect subsidiary, Golden & Luxury Co., Ltd, has signed a Share Purchase Agreement. This agreement outlines the intention to create a new company that will house the Jeju Sun operation, which will then be sold to Gangwon Blue Mountain Co.
The planned sale comes as part of Bloomberry’s strategic move to offload a loss-making asset. Jeju Sun has been a financial drain on the company’s resources, with its latest financial report in June 2025 indicating a loss of $706,000. The decision to sell is not just a short-term action but a calculated step towards refining Bloomberry’s portfolio to include only high-performing assets. This move will allow Bloomberry to concentrate its efforts on its primary revenue generator, the Solaire Resort & Casino located in Manila’s Entertainment City.
The down payment for the transaction has been set at $350,000, and the deal depends on the successful completion of the spin-off process. This includes obtaining necessary regulatory approvals and fulfilling standard closing conditions, such as meticulous due diligence. Bloomberry acknowledges that the Jeju Sun property has consistently underperformed due to the local gambling industry’s reliance on foreign tourists, a strategy that has proven unsustainable.
In the South Korean market, casinos typically struggle because of strict regulations limiting local citizen entry. Consequently, Jeju Sun’s financial performance has been adversely affected, making it an ongoing challenge to achieve profitability. Bloomberry has realized that focusing solely on attracting foreign visitors does not suffice to maintain a viable business, as this demographic is often subject to fluctuations due to external factors like global travel restrictions or economic downturns.
A company insider mused that the decision to let go of Jeju Sun was long overdue. They reflected on the initial acquisition, noting it had been viewed skeptically from the onset as a move that might not align with Bloomberry’s long-term strategic goals. The sale is thus seen as a necessary step to prevent further financial setbacks and allow the company to redirect its resources where they can yield better results.
From an industry perspective, the sale of Jeju Sun could be interpreted as a bellwether for similar future transactions in the region. Other operators might also consider reevaluating their strategies in the South Korean market. As Bloomberry pivots towards more stable and lucrative markets, it underscores a growing trend where casino operators streamline their operations to bolster financial health.
However, not everyone agrees with Bloomberry’s decision. Some analysts suggest that divesting from Jeju Sun might mean missing out on potential future gains if the South Korean market were to undergo regulatory changes. A relaxation in laws regarding local access to casinos or an increase in tourist inflow could potentially turn the tides in favor of casinos like Jeju Sun. This alternative view posits that patience and a long-term strategy could eventually bear fruit for operators willing to weather the current challenges.
Despite these differing opinions, Bloomberry seems committed to forging ahead with its plan. The company is focused on strengthening its flagship operations at Solaire Resort & Casino, where it can leverage its position in a thriving market. Bloomberry’s management appears to be guided by a philosophy of cutting losses and building on strengths, a strategy they believe will drive future growth.
The broader context of this decision highlights the constant balancing act within the gambling industry. Operators must weigh the risks and rewards of maintaining diverse portfolios versus concentrating on fewer, more predictable assets. As the landscape continues to evolve, casino companies like Bloomberry must remain agile, adapting to shifting market dynamics while ensuring financial stability.
In conclusion, Bloomberry’s divestment from Jeju Sun is a significant move that reflects the company’s strategic realignment. It highlights the challenges inherent in navigating international markets with complex regulatory environments. While some may see this as a missed opportunity, Bloomberry views it as a prudent step towards a stronger, more focused future. As the deal progresses, the industry will be watching closely, noting the outcomes and possibly drawing lessons for their own operations.
Garry Sputnim is a seasoned journalist and storyteller with over a decade of experience in the trenches of global news. With a keen eye for uncovering stories that resonate, Alex has reported from over 30 countries, bringing light to untold narratives and the human faces behind the headlines. Specializing in investigative journalism, Garry has a knack for technology and social justice issues, weaving compelling narratives that bridge tech and humanity. Outside the newsroom, Garry is an avid rock climber and podcast host, exploring stories of resilience and innovation.
