Bloomberry recently won their bid to buy Solaire land. Now, they want Wakayama Casino Resort. Bloomberry Resorts has anticipated Japan’s government approval of casinos in their country. The company is based in the Philippines and has offices in Tokyo. The offices were established in 2014. They have had an interest in a land-based casino in Japan for years. One area of interest is Wakayama.
Bloomberry wishes to have Japan’s Wakayama Marina City Integrated Resort. The company is one of seven companies who operate integrated resorts in Asia who has recently approached the governor of Wakayama.
The governor, Yoshinobu Nisaka believes it is possible to have a recent in Wakayama with a casino, and that Osaka is not close enough to be an issue. Takeshi Hojo, the president of Bloomberry Japan felt the meeting with the governor was a positive one. He feels sure that the governor does not wish the licensing to be complicated or have any political issues.
Governor Nisaka stated he does not want the casino to be “foreign-only” but a place for Japanese to come and enjoy the integrated resort. In an interview, Estella Tuason, Occena, Bloomberry’s CFO and Treasurer, stated they operate a casino in Jeju and you do need to operate like it is a “foreign-only” establishment to bring the money in.
Bloomberry has a decent chance of winning the license, but there are many things that need to happen before they get the win. Bloomberry is not a company with deep pockets. Their competitors may be able to bid more and offer a larger scale integrated resort.
Tuason-Occena stated they will need to see if their effort will win, and because it is the company dream they will continue to try.
Back History of Bloomberry
Bloomberry is a Philippine listed company on the stock exchange and traded publicly. They operate Solaire Resort and Casino in Manila, as well as Jeju Sun Hotel and Casino. For the first quarter of 2018, the company showed an increase in revenue making $71.2 million. Revenue was 71 percent more than 2017. The company accredits the increases to mass gaming and VIP markets.
Bloomberry has also secured loans for $1.4 billion to gain new projects. The loans are from at least seven financial locations in the Philippines. The money is set for investments and working capital. Some of the money was spent on gaining 39.5 acres were the Solaire Casino sits, to stop leasing the land.