Bloomberry to Exit South Korea’s Jeju Casino Operation

Bloomberry Resorts Corp (Philippines) has announced plans to sell the Jeju Sun Hotel & Casino on South Korea’s Jeju Island, marking the end of a venture that has consistently under-performed. The company disclosed that its indirect subsidiary, Golden & Luxury Co Ltd, has signed a share purchase agreement to demerge the casino business into a newly formed entity, which in turn will be sold to Gangwon Blue Mountain Co Ltd.

The acquisition price was not publicly disclosed, but the buyer made a down-payment of KRW 500 million (approx. US $349 k) as part of the agreement. The transaction remains subject to the completion of the demerger, regulatory approvals and due diligence, according to Bloomberry’s stock exchange filing. 

Bloomberry acquired the Jeju Sun property in 2015, rebranding it after purchase. The complex includes a 202-room hotel and roughly 2,000 m² (≈21,500 sq ft) of gaming space, featuring 36 gaming tables and approximately 20 electronic gaming machines. The casino business struggled financially: in Q2 2025 it recorded a net loss of PHP 64.2 million (approx US $1.1 million), compared to a loss of PHP 116.9 million in the same quarter the previous year. 

The decision to withdraw from Jeju underscores Bloomberry’s strategic move to refocus on its stronger domestic Philippine operations, such as Solaire Resort & Casino and the newer ‎US$1 billion Solaire Resort North in Quezon City. With the Jeju venture under-performing and contributing to wider group losses, the sale makes financial and strategic sense.