The operator of the Solaire Casino and Resort (pictured) in Manila, the Philippines, has spent just over PHP3.34 million (US$63,183) so far in its latest initiative to give stock in its parent Bloomberry Resorts Corp to “loyal patrons”.
A June 6 resolution from the board of Bloomberry Resorts and Hotels Inc, authorised it to buy up to 1.5 million shares in the parent, via the Philippine Stock Exchange – at market price – to “be given as a reward to Solaire’s loyal patrons and as part of Solaire’s marketing programme”.
A Monday filing from Bloomberry Resorts said that as of June 8, Bloomberry Resorts and Hotels had bought 300,000 shares at prices ranging from PHP11.12 per unit, to PHP11.18 per unit, in pursuit of the reward programme.
Bloomberry Resorts and Hotels announced in January it had acquired 382,900 shares in the parent firm for distribution to customers.
The parent saw its first-quarter profit rise 72.7 percent year-on-year, to nearly PHP3.70 billion, on record quarterly earnings before interest, taxation, depreciation and amortisation.
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