Bloomberry closes sale of Korean casino biz
Bloomberry Resorts Corp. has completed the sale of its casino business in Jeju Island, South Korea.
This marks the group’s exit from gaming operations in the resort destination while retaining ownership of related real estate assets.
In a disclosure on Wednesday, Bloomberry said its South Korean indirect subsidiary, Golden & Luxury Co. Ltd., finalized a share purchase agreement with Gangwon Blue Mountain Co. Ltd. This covered the casino operations previously run under Jeju Sun.
The transaction follows an earlier plan to spin off the casino business into a separate entity as part of a corporate restructuring first disclosed in October 2025.
The spin off has since been completed, with the gaming license and operations transferred to a new company called Heaven Co. Ltd.
Bloomberry said the buyer—now known as Blue One Ltd.—has paid 7 billion Korean won for the shares of Heaven Co. Ltd.
Ownership of the company was transferred to the buyer on March 4.
There remains a balance of 3 billion won on the purchase price. The buyer will settle this with Golden & Luxury on or before Feb. 27, 2027, the company said.
Even after the sale, the casino will continue operating temporarily at the property owned by Golden & Luxury in Jeju under a lease arrangement.
Bloomberry said the deal effectively allows its indirect subsidiary to exit the casino business in Jeju Island. However, the company will still keep ownership of the real estate properties in the area, including gaming space that will be leased to Heaven Co. Ltd.
