Bloomberry says no current plan to pursue Thailand integrated resort development

Bloomberry Resorts Corp, the owner and operator of Manila’s Solaire Resort Entertainment City and the recently opened Solaire Resort North, has denied reports it plans to pursue an integrated resort development in Thailand.

The company issued a strongly worded response to queries from the Philippine Stock Exchange on Tuesday after local media outlet Bilyonaryo.com stated that Bloomberry is “expected to join the ranks of global gaming leaders who have shown interest in establishing a resort casino in Thailand.”

The article also states the company “confirms that it has plans to expand in Thailand.”

While Bloomberry did not deny potential interest in future, it took umbrage at what it described as “speculation” by the article’s author.

“There has been reports that Thailand is contemplating a gaming law but we have no idea what form it will be,” Bloomberry said in its response. “It is of market interest, but to say that ‘Bloomberry confirms that it has plans to expand in Thailand’ is a part of the writer’s speculation.

“There is no such plan.”

As reported by Inside Asian Gaming, a second study by a House Committee that has recommended the legalization of casino gaming in Thailand has been approved by the cabinet and is currently in the hands of the Ministry of Finance.

The cabinet’s endorsement included a recommendation for Thailand’s integrated resorts to be joint investments between the government and private operators, which could follow a concession model similar to that utilized in Macau. It also suggested IRs be located close to international airports to ensure international visitors are well catered to, while the IRs themselves would be limited to 5% of the total project area being used for gaming purposes.

A recent note from Maybank claimed that Thailand could open its first IRs as early as 2029, which would result in the Southeast Asian nation realizing legal casino gaming ahead of Japan where MGM Resorts International’s US$10 billion IR development in Osaka isn’t slated for completion until at least 2030.