Philippines-listed casino operator Bloomberry Resorts Corp says the board of directors of its subsidiary Bloomberry Resorts & Hotels Inc spent just under PHP14.9 million (US$263,631) in Monday market transactions, as part of an initiative to give stock in its parent company to “loyal patrons”.
Bloomberry Resorts & Hotels purchased about 1.94 million shares of the parent, at prices ranging from PHP7.50 to PHP7.70 apiece. The majority, 1.18 million shares, was priced at PHP7.70 per share.
The shares overall would be “given as a reward to Solaire’s loyal patrons and as part of Solaire’s marketing programme,” stated the parent company in a Tuesday filing.
The group runs Solaire Resort & Casino (pictured) in the Philippine capital Manila, and in May opened Solaire Resort North, another gaming complex in Quezon City, northeast of Manila.
Solaire Resort North is set to launch VIP operations in early September, the property’s promoter has confirmed to GGRAsia.
The parent reported last week consolidated net income of just under PHP1.34 billion for the three months to June 30.
