Bloomberry Resorts & Hotels Inc (BRHI), which operates Solaire Resort & Casino in Manila’s Entertainment City precinct, says it will purchase up to two million shares of its parent company, Bloomberry Resorts Corporation, to give away to “loyal patrons.”
The initiative was revealed in an announcement to the Philippine Stock Exchange on Tuesday, which stated that the board of BRHI had authorized the purchase.
BRHI subsequently purchased 382,900 shares in Bloomberry Resorts Corporation for a total consideration of Php4,240,532
In the filing, Bloomberry Resorts said shares would be acquired through the stock market at stock market price, with 50,000 of those already acquired purchased at Php11.04 apiece and the other 332,900 at Php11.08 apiece.
“These shares shall be given as a reward to Solaire’s loyal patrons and as part of Solaire’s marketing program,” it said.
Bloomberry shares closed the day at Php11.26.
