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Razon sells loss-making Jeju casino
Manila Bulletin
|October 28, 2025
Ports, gaming, and infrastructure magnate Enrique K. Razon Jr. has found a buyer for his casino in South Korea, Jeju Sun Hotel & Casino, which is owned through an indirect subsidiary of Bloomberry Resorts Corp.
In a disclosure to the Philippine Stock Exchange (PSE), Bloomberry said its South Korean indirect subsidiary, Golden & Luxury Co. Ltd., has signed a share purchase agreement (SPA) with Gangwon Blue Mountain Co. Ltd.
Under the SPA, Golden & Luxury Co. will spin-off or demerger its casino business to a separate new company and then sell the said new company to Gangwon Blue Mountain, which has paid a down payment of 500 million South Korean won, or about ₱20.5 million.
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