Philippine casino operator Bloomberry Resorts is putting the sale of its interest in Jeju Sun Hotel & Casino in South Korea at the back burner after its supposed buyer has ran out of money.

The Philippine Daily Inquirer quoted Bloomberry chair Enrique Razon Jr. saying that the sale of the casino on South Korea’s Jeju island fell through. The casino magnate, however, did not elaborate his statement.

“We had a sale already done but it fell through,” Razon told reporters at the sidelines of the Pilipinas 2016 Conference on Thursday, adding that the buyer had run out of money.

Bloomberry has entered into an agreement to sell Jeju Sun to Macau junket investor Iao Kun Group Holding Company (IKGH) for KRW 117.5 billion (US$102.6 million). Analysts said the move to sell Bloomberry’s assets in Jeju Island will help eliminate the financial drag on its operations.