Bloomberry Resorts Corporation

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Bloomberry Resorts Corporation
Public company
IndustryHospitality
Founded1999 (1999)
Headquarters
Area served
Philippines & Korea
Key people
  • Enrique K. Razon, Jr.
    (Chairman)
  • Thomas Arasi
    (President and COO)
  • Estela O. Tuason-Occeña (CFO)
Websitewww.shangri-la.com

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][2] It was incorporated on May 3, 1999 and led by Enrique Razon.[1][3][4]

Background[edit]

The company's former name was Active Alliance, Incorporated.[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]

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

Subsidiaries[edit]

Among its subsidiaries are Sureste Properties, Inc. and Bloomberry Resorts and Hotels, Inc (BRHI).[6] BRHI was named one of the defendants in a case filed by Bangladesh Bank allegedly in connection with Bangladesh Bank robbery. The company said that they had no knowledge that the funds used to purchase chips and then withdrawn at Solaire Resort and Casino in 2016 were laundered money and that they had provided disclosure on the bank accounts, funds, and identities of people who were involved in the incident.[13][14][15]

Another subsidiary, the Golden & Luxury Co., Ltd, operates Jeju Sun Hotel & Casino and Muui Agricultural Corporation is the owner of real estate property in Muui island.[1][16]

References[edit]

  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. "PH casino operator eyes South Korea expansion". Rappler. Retrieved 28 July 2019.
  4. ^ France-Presse, Agence. "Philippines' biggest casino hits early jackpot". business.inquirer.net. Retrieved 28 July 2019.
  5. ^ "Bloomberry Resorts Corporation". www.pse.com.ph. Retrieved 28 July 2019.
  6. ^ a b Castañeda, Christine J. S. "Bloomberry stock price gets lift from PSE index inclusion | 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. "Bloomberry to break ground on QC resort-casino in June | BusinessWorld". Retrieved 28 July 2019.
  9. ^ Charm, Neil. "Bloomberry sets up cruise terminal subsidiary | 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. "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. ^ Charm, Neil. "Bloomberry unit says it was a victim, not complicit in cyberheist | BusinessWorld". Retrieved 28 July 2019.
  14. ^ Villanueva, Joann; Twitter. "Money laundering decision vs. RCBC exec to help in funds recovery". www.pna.gov.ph. Retrieved 28 July 2019.
  15. ^ Dumlao-Abadilla, Doris. "PSEi slumps to 7,700 level". business.inquirer.net. Retrieved 28 July 2019.
  16. ^ "Bloomberry scraps plan to sell casino in Jeju Island". GMA News Online. Retrieved 28 July 2019.