Bloomberry Denies Thailand Expansion Plans Despite Casino Legalization Efforts
The luxury hotel and casino company, Bloomberry Resorts Corp., recently refuted speculation about expanding its operations into Thailand. A report published on Bilyonaryo.com alleged that Bloomberry’s Chief Executive Officer, Enrique Razon Jr., was considering Thailand’s efforts to authorize casinos, implying that Bloomberry might follow other international gaming corporations in establishing a casino resort in the country.
Nevertheless, Bloomberry clarified that although they are cognizant of Thailand’s progress toward legal wagering, they currently have no definite intentions. Razon stressed that while Bloomberry is perpetually open to investigating new markets, there are no current initiatives to venture into Thailand.
This announcement follows the grand opening of Bloomberry’s highly anticipated Solaire North in Quezon City. The event was graced by notable individuals, including President Ferdinand Marcos Jr., First Lady Liza Araneta-Marcos, Quezon City Mayor Joy Belmonte, and the head of the Philippine Amusement and Gaming Corporation (PAGCOR), Alejandro Tengco.
Enrique Razon Jr., the powerhouse behind Bloomberry Resorts, expresses immense pride in the substantial effort and calculated foresight poured into their latest resort venture. He envisions it transforming luxury and leisure in the Philippines, becoming an essential Quezon City destination and a shining example for the nation’s travel sector.
This endeavor signifies a considerable financial commitment from Bloomberry, particularly considering the recent decline in their first-quarter 2024 earnings attributed to rising expenses.
Concurrently, Thailand’s path toward casino authorization has been a subject of much discussion. The nation’s leader initially signaled approval in 2023, piquing the curiosity of industry giants like Galaxy and MGM. Nevertheless, advancement has been sluggish. Current developments encompass a possible 5% restriction on gaming floor area within combined resorts and a suggested 17% levy on gambling revenue once legislation is solidified.