Bloomberry Exits South Korea After Jeju Sun Sale Closes

Bloomberry Resorts confirmed on 4 March 2026 that it has completed the sale of its Jeju Sun casino operations in South Korea, marking a full exit from the country’s gaming market. The transaction was executed through a spin-off of the casino business into Heaven Co Ltd, which was then transferred to a local buyer.

The total value of the deal is KRW10bn ($7.5m). Bloomberry received KRW7bn at closing, with the remaining KRW3bn scheduled for February 2027, based on company disclosures. The group keeps ownership of the property itself, including the hotel and F&B outlets. The casino space is now leased to the new operator.

This marks the end of Bloomberry’s run in South Korea after about ten years. Jeju Sun operated under rules that only allow foreign players, which limited its scale. Financial results remained weak, with revenue dropping sharply in earlier periods and only partial recovery after the pandemic. Bloomberry had already indicated in 2025 that it wanted to exit the asset.

The buyer has moved quickly. The casino reopened under the name Blue One Casino soon after the transaction closed. Staff stayed in place, and operations continued without a break.

For Bloomberry, the exit clears out a non-core asset. The focus remains on the Philippines, where the group operates Solaire and is adding more capacity in Metro Manila.

TGJ Take

This is a clean exit from a market that never worked at scale. South Korea’s foreigner-only model caps revenue potential, and Bloomberry has now confirmed it is not worth the capital. For operators still in Korea, this is another reminder that volume depends on inbound tourism, not local demand. Suppliers tied to these properties should expect steady operations, not growth. The real signal sits elsewhere: capital is moving back to core markets where operators control both demand and margins.