Pursuits
Philippine Billionaire Razon to Buy Korean Island in Casino Push
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Philippine billionaire Enrique Razon will buy an island in South Korea to develop a leisure and tourism complex, as he taps the country’s growth in gambling on rising tourist arrivals from China.
Bloomberry Resorts Corp., controlled by Razon and operator of a casino in Manila, will buy the 21-hectare (52-acre) Silmi Island through unit Solaire Korea Co., according to a Philippine Stock Exchange filing on Tuesday. It’s Bloomberry’s second announcement of a property purchase in the country this year after the company signed in January four deals with landowners on Korea’s Muui Island, which is adjacent to Silmi Island.