Over 7.9mln Bloomberry shares vested to some senior execs

May 18, 2022 Newsdesk Latest News, Philippines, Top of the deck  

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Bloomberry Resorts Corp – the operator of Solaire Resort and Casino (pictured) in the Philippine capital Manila – on Wednesday announced in a series of filings, that an aggregate of just over 7.9 million shares had vested to some senior executives under the group’s stock incentive plan.

The shares vested were priced at PHP6.50 (US$0.12) each, according to the filings.

The largest single award went to the company’s president and chief operating officer, Thomas Arasi, who saw 3.86 million shares vested. Cyrus Sherafat, executive vice president for casino marketing at Bloomberry Resorts, saw over 1.58 million shares vested.

The casino operator had reported that its first-quarter consolidated net revenue reached PHP7.20 billion, representing sequential growth of 9.1 percent, and a year-on-year growth of 30.4 percent.

Bloomberry Resorts’ Solaire property is among the large-scale private-sector casinos in the Entertainment City zone in Metro Manila, a part of the country that had been periodically subject to business restrictions in the first quarter, as a Covid-19 countermeasure.

Since March 1, casino resorts have been allowed to operate at full capacity, as Metro Manila was placed under “alert level 1”, the lowest level of countermeasures against Covid-19.

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