Bloomberry Eyes Argentina

Bloomberry Resorts Corp., the parent company of Solaire Resort and Casino in Manila’s Entertainment City largely owned by Ricky Razon (l.), has established a subsidiary that will explore investment possibilities in Argentina.

Razon looks at Buenos Aires

Is there a Solaire resort in Argentina’s future? It’s possible. Bloomberry Resorts Corp., which owns and operates the lavish Solaire Resort and Casino in Manila’s Entertainment City, has established a subsidiary with the express purpose of investigating casino prospects in the Latin American country.

Oscar Alberto Ghezzi has been named president of the entity, Solaire de Argentina SA, reports Asia Gaming Brief. Ghezzi currently leads the Argentine Chamber of Tourism and is a former president of the Federation of Hotel and Gastronomy Professionals of Argentina.

In a filing to the Philippine Stock Exchange, the subsidiary noted it “has a proposal to establish an integrated resort in Argentina, but it is still pending evaluation and action of government agencies and regulators in Argentina.”

Bloomberry Resorts Chairman Enrique Razon told the Philippine Star the company is looking at “an undisclosed area of the capital, Buenos Aires.” Razon is already invested in Argentina, the Star reported: his International Container Terminal Services Inc. entered the market in 2008, and holds a 30-year concession to operate the cargo port in La Plata, about 35 miles from Buenos Aires.

According to figures from PricewaterhouseCoopers LLP, Argentina is the top gaming market in Latin America with gross gaming revenue of more than $3 billion in 2014, up 9.8 percent year-on-year. The financial services firm says GGR could peak at $3.5 billion this year, reported GGRAsia.

Bloomberry Resorts is now planning to reopen its majority-owned gaming property on Jeju Island in South Korea, the firm’s first property overseas.