Bloomberry Explained

Type:Public company
Area Served:Philippines
South Korea
Key People:
  • Enrique K. Razon, Jr.
    (Chairman)
  • Thomas Arasi
    (President)
Industry:Hospitality
Foundation: (as Active Alliance Incorporated)
Location City:Parañaque, Metro Manila, Philippines

Bloomberry Resorts Corp. is a holding company in the Philippines registered with the Securities and Exchange Commission engaged in amusement, tourist facilities, gaming, and hotel businesses.[1] It was incorporated on May 3, 1999 and led by Enrique Razon.[2] [3]

Background

The company's former name was Active Alliance, Incorporated and was mainly engaged in the manufacture and distribution of consumer communication and electronic equipment and operated within the Subic Bay Freeport Zone (SBFZ) until 2003.[4] It was listed on the Philippine Stock Exchange on Oct 17, 2000.[5] In 2013 it was included in the PSE Composite Index and was removed from the list and replaced with Security Bank three years later. It was included again on the index on February 18, 2019.[6] [7]

Bloomberry operates the Solaire Resort and Casino, the company's flagship business, and Jeju Sun Hotel & Casino in Jeju Island, South Korea.[8] [9] [10] In February 2019, the company secured loans for the construction of its second hotel and gaming resort called Solaire North in Quezon City, set to open in 2022.[11] [12] [13] [14]

Subsidiaries

Among its subsidiaries are Sureste Properties, Inc. and Bloomberry Resorts and Hotels, Inc (BRHI), which holds the hotel and gaming licenses for Solaire Resort and Casino.[6] [15] Another subsidiary formed in 2019,[16] [17] Bloomberry Cruise Terminal, Inc. (BCTI), manages and operates BRC's cruise terminal business, including the newly constructed Ilocos Cruise Port[18] in Salomague, Ilocos Sur; and Solaire Cruise Center and Yacht Harbor,[17] a planned cruise terminal adjacent to the Solaire Manila property in Entertainment City.

In South Korea, subsidiary Golden & Luxury Co., Ltd, operates Jeju Sun Hotel & Casino and Muui Agricultural Corporation is the owner of real estate property in Muui island.[19]

Notes and References

  1. Web site: Bloomberry Resorts Corp. www.bloomberg.com. 2019-07-28.
  2. Web site: PH casino operator eyes South Korea expansion. Rappler.com. Rappler. 16 April 2015 . en. 2019-07-28.
  3. Web site: Philippines' biggest casino hits early jackpot. Agence France-Presse. business.inquirer.net. 29 April 2014. en. 2019-07-28.
  4. Web site: Company Information. edge.pse.com.ph. 2019-07-28.
  5. Web site: Bloomberry Resorts Corporation. www.pse.com.ph. July 28, 2019.
  6. Web site: Bloomberry stock price gets lift from PSE index inclusion BusinessWorld. Castañeda. Christine J. S.. 17 February 2019. BusinessWorld. en-US. 2019-07-28.
  7. Web site: Petron out, Bloomberry in at benchmark PSEi - VG Cabuag. Cabuag. V. G.. 2019-02-11. BusinessMirror. en-US. 2019-07-28.
  8. Web site: Bloomberry to break ground on QC resort-casino in June BusinessWorld. Charm. Neil. . 11 April 2019 . en-US. 2019-07-28.
  9. Web site: Bloomberry sets up cruise terminal subsidiary BusinessWorld. Charm. Neil. . 26 July 2019 . en-US. 2019-07-28.
  10. Web site: Solaire awarded Best Regional Asian Integrated Resort. 2019-05-29. Sunstar. English. 2019-07-28.
  11. Web site: Solaire QC secures P40-B funding deal. Dumlao-Abadilla. Doris. business.inquirer.net. 15 February 2019. en. 2019-07-28.
  12. Web site: PNB inks syndicated loan deal with Bloomberry for Solaire Vertis North. GMA News Online. en-US. 2019-07-28.
  13. Web site: Bloomberry to break ground on QC resort-casino in June. Francia. Arra. 11 April 2019. Business World. live. https://web.archive.org/web/20190413133538/https://www.bworldonline.com/bloomberry-to-break-ground-on-qc-resort-casino-in-june/ . 13 April 2019 . 2020-01-05.
  14. Web site: Solaire casino opens in QC in 2022. philstar.com. 2020-01-05.
  15. Web site: BLOOM SEC FORM 17-A. Bloomberry Resorts Corporation.
  16. Web site: BLOOM SEC FORM 17-Q. September 2019. Bloomberry Resorts Corp..
  17. Web site: Bloomberry sets up cruise terminal subsidiary | BusinessWorld. www.bworldonline.com. 2020-01-05. 26 July 2019 .
  18. Web site: Bloomberry Cruise Terminals to receive first call to its port. Manila Bulletin Business. en-US. 2020-01-05.
  19. Web site: Bloomberry scraps plan to sell casino in Jeju Island. GMA News Online. en-US. 2019-07-28.

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