ldquo;Once law is passed [in Japan], that would be a very interesting market. But we don’t know yet the final form and terms,” Bloomberry chairman Enrique Razon Jr. said in a recent interview.
“Japan will be a very good market,” Razon said.
Bloomberry operates Solaire Resort & Casino in Pagcor Entertainment City in the Philippines. Last year, Bloomberry expanded to South Korea with the purchase of Jeju Sun Hotel & Casino and acquisition of two islands―Silmi Island and Muui Island―in a bid to expand its operations outside the Philippines.
Meanwhile, Razon said the number of Chinese arrivals in the Philippines significantly improved in October and November on improving relations between Manila and Beijing.
“In Solaire, Chinese arrivals into the gaming facility in November grew 130 percent, and 80 percent in October,” Razon said. “You more or less safely attribute that directly to our improved relations with China.”
Visitor arrivals to the Philippines from China were affected last year by the Chinese government’s increased anti-corruption drive and territorial dispute over the South China Sea.
A third player is entering Pagcor Entertainment City in Parañaque. Razon said Bloomberry was preparing for the competition by making sure it remained lean, mean and effective.
Okada Manila, the $2.4-billion integrated resort and casino owned by Japanese billionaire Kazuo Okada, is set to open on Dec. 21.
“We will see first how the market grows with the new supply and we have to balance that,” Razon said.
Solaire is the first casino to open in Pagcor Entertainment City, followed by City of Dreams Manila which is led by Macau-based Melco Crown group.