Bloomberry Resorts Corporation refuted recent claims suggesting an expansion into the Thai market. Speculation arose from a Bilyonaryo.com piece hinting at Bloomberry’s exploration of a casino resort venture within the nation.

In a communication to the Philippine Stock Exchange (PSE), Bloomberry addressed its stance, acknowledging Thailand’s recent gaming legalization but emphasizing it harbored “no such intentions” for immediate expansion there.

This declaration follows closely on the heels of Bloomberry’s unveiling of the highly anticipated Solaire North in Quezon City, Philippines. The grand opening saw the presence of notable figures such as President Ferdinand Marcos Jr., First Lady Liza Araneta-Marcos, Quezon City Mayor Joy Belmonte, and Philippine Amusement and Gaming Corporation (PAGCOR) head Alejandro Tengco.

Alejandro Tengco, the top dog at the Philippine Amusement and Gaming Corporation (PAGCOR), expressed strong approval for Bloomberry Resorts’ Solaire North development. He believes this $1.2 billion giant will be a flagship attraction for Quezon City, attracting visitors and providing a much-needed shot in the arm for the nation’s gaming and tourism industries.

Although the project is widely seen as transformative, the substantial investment did impact Bloomberry’s earnings negatively during the initial months of 2024.

Concurrently, in Thailand, the government has been considering the legalization of gambling. The Prime Minister appeared receptive to the idea in 2023, and major companies like Galaxy Entertainment and MGM Resorts are already exploring potential prospects.

Nevertheless, the situation remains uncertain. Recent rumors indicate they might restrict casino zones to a mere 5% of entertainment venues and impose a 17% levy on all winnings.