Bloomberry Resorts is looking to report its best ever quarterly GGR and EBITDA in August, as the Philippine market gathers momentum, said a note from CLSA on Monday.
According to the brokerage, company-specific issues at Bloomberry that haunted 2015 look to be abating, bad debts are under control and the loss-making Korean operation is in the process of being divested.
Last month, Bloomberry announced it was selling its Jeju casino property in South Korea for about $102.3 million to Iao Kun Group.
The company said in a filing to the Philippine Stock Exchange that it will sell its 96.23 percent shareholding in Golden & Luxury Co. - the owner and operator of the Jeju Sun Hotel & Casino - in a transaction worth KRW 117.5 billion, which includes the shares and a shareholder loan.
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