As the COVID-19 pandemic paralyzed its traditional integrated gaming business, tycoon Enrique Razon Jr.-led Bloomberry Resorts Corp. is widening its investment radar to include other nongaming assets that can help drive future growth.
In a disclosure to the Philippine Stock Exchange on Tuesday, the owner and developer of Solaire Resort & Casino along Manila Bay stated its intent to make additional future investments “in the interest of enhancing shareholder value.”
“Bloomberry’s future investments will be considered within a broader universe of possible opportunities which include gaming, hospitality and other nongaming assets. The company will consider various opportunities in light of their potential to create additional value for shareholders,” Bloomberry said.
However, it does not have yet any particular investments or acquisitions under imminent consideration.
Bloomberry is currently constructing Solaire North, which will be its second integrated gaming resort in the Philippines. Solaire North is located in the populous and highly urbanized Quezon City.
The company’s flagship Solaire Resort & Casino has shut down its gaming operations since March 16, in compliance with the Philippine government’s enhanced community quarantine initiative.
Apart from Solaire Resort, Bloomberry owns Jeju Sun Hotel & Casino in Korea.