Bloomberry Resorts Corporation has issued a clarification note to the Philippine Stock Exchange (PSE), denying having any expansion plans into Thailand.
The note was sent shortly after an article on Bilyonaryo.com, claiming that Bloomberry’s CEO Enrique Razon “is expected to join the ranks of global gaming leaders who have shown interest in establishing a resort casino in Thailand,” and that Bloomberry “is closely monitoring Thailand’s ongoing efforts to legalise casinos and boost revenue for the Southeast Asian nation….”
According to the note, Bloomberry has indeed received reports about Thailand’s recent legalisation of gaming and gaming laws, but has "no idea what form it will be.”
While there is interest in the market situation, “there is no such plan” as quoted from the document, firmly stating that Bloomberry has no plans to further expand into Thailand.
Just recently, Bloomberry has launched Solaire Resort North in Quezon City. The ceremony was led by President Ferdinand Marcos Jr. and First Lady Liza Araneta-Marcos, and attended by Quezon City’s mayor Joy Belmonte and PACGOR’s Chairman Alejandro H. Tengco. Tengco has also applauded Bloomberry for its meticulous planning and dedication to the project, stating that the resort will be a landmark destination in Quezon City, signifying a new era for both the Philippine gaming and tourism industries.
The resort is an important investment for the company seeing that costs had contributed to the decline in Q1 2024.
As for the regulatory situation in Thailand, the proposal to legalise casino and gambling was already a discussion topic in 2023, where the Prime Minister had expressed support for the move, as well as reports of Galaxy and MGM having plans for Thailand.
However, the actual process is still ongoing, with recent updates such as imposing a 5% limit for casino space/gambling areas in entertainment complexes, and a 17% casino tax proposal upon completing the drafting of the Bill.
