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Bloomberry

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Bloomberry
Company typePublic company
IndustryHospitality
FoundedMay 3, 1999; 25 years ago (1999-05-03) (as Active Alliance Incorporated)
Headquarters
Parañaque, Metro Manila, Philippines
Area served
Philippines
South Korea
Key people
  • Enrique K. Razon, Jr.
    (Chairman)
  • Thomas Arasi
    (President)
Websitewww.bloomberry.ph

Bloomberry Resorts Corp. (PSE: BLOOM) is a holding company in the Philippines registered with the Securities and Exchange Commission engaged in amusement, tourist facilities, gaming, and hotel businesses.[1][2] It was incorporated on May 3, 1999 and led by Enrique Razon.[1][3][4]

Background

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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.[1] 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

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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.[1][19]

References

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