A major participant in the Philippine gaming sector, Bloomberry Resorts Corp., recently denied reports of an expansion into Thailand’s casino industry. In a disclosure to the Philippine Stock Exchange, the corporation clarified its stance, stressing that it has no current intentions to enter Thailand.
This clarification follows a report by the media outlet, Bilyonaryo.com, which alleged Bloomberry’s supposed interest in joining the competition to leverage Thailand’s move towards casino legalization. The piece even indicated that Bloomberry’s CEO, Enrique Razon Jr., was attentively observing Thailand’s endeavors to legalize gambling.
While acknowledging its awareness of Thailand’s legislative progress, Bloomberry firmly asserted that it is not pursuing any expansion into the nation at present.
This declaration comes shortly after Bloomberry’s grand launch of its Solaire North location in Quezon City, Philippines. The occasion was graced by the presence of notable figures, including President Ferdinand Marcos Jr., First Lady Louise Araneta-Marcos, Quezon City Mayor Joy Belmonte, and Philippine Amusement and Gaming Corp. (PAGCOR) head Alejandro Tengco.
Bloomberry Resorts’ head honcho, Enrique Razon Jr., is placing a significant wager on Quezon City. He’s constructing a colossal resort and gaming establishment that he envisions as a prominent landmark, ushering in a fresh age for leisure and gaming in the Philippines. This development coincides with the company experiencing a profit decline in the initial quarter of 2024 attributed to budget overruns at the new resort.
Concurrently, Thailand is also aiming to capitalize on the gaming sector. There’s considerable chatter about granting legality to casinos, particularly following the Prime Minister’s vocal endorsement. Industry giants like Galaxy Entertainment and MGM Resorts are said to be exploring prospects in Thailand. Although developments are ongoing, recent information suggests a 5% restriction on gaming floor area within entertainment complexes and a 17% levy on casino earnings once the legislation is enacted.
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