Bloomberry Resorts Corp., the operator of Solaire Resort and Casino in Entertainment City, on Thursday said it has disposed of its South Korean gambling assets to Iao Kun Group Holding Co. Ltd., a move that is seen mitigating the firm’s revenue losses.

In a disclosure to the Philippine Stock Exchange, the Razon-led company, said it has disposed of its stake in Solaire Korea Co. Ltd., which owns 93.23 percent stake in Golden and Luxury Co. Inc. (G&L), the unit that operates Jeju Sun Hotel and Casino in Jeju Island in South Korea.

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