Scientific Game

Chairman Enrique Razon Jr reduces Bloomberry stake

Wednesday, 13 September 2017 05:33
Share
Visit us

The Chairman and controlling shareholder in Bloomberry Resorts Corporation, Enrique K Razon Jr, has sold 350 million shares representing 3.18% of his stake, the company announced.

The shares, held through Mr Razon’s holding company Prime Metroline Holdings Inc, were sold at Php10.85 per share for a total consideration of Php3.8 billion (US$74.7 million) and placed to international institutional investors at an 8% discount to the volume weighted average price.

Prime Metroline remains the largest shareholder with 65.58% of Bloomberry’s shares.

In a statement, Mr Razon said, “I am very confident of the prospects for Bloomberry. I believe that the increased liquidity in the stock will be beneficial for investors and the company.”

Bloomberry Resorts Corporation has enjoyed strong results in 2017, with profits surging 47% year-on-year for the three months to 30 June 2017 on the back of a record breaking quarter at its flagship Solaire Resort & Casino in Manila.

The company reported profit of Phpp1.96 billion (US$38.5 million) for the quarter, taking its half-year total to Ph4.1 billion – the highest on record and 24 times more than the same period in 2016.

 

What's new

Inside Asian Gaming takes a look back at the biggest stories of the past week

Inside Asian Gaming takes a look back at the biggest stories of the past week Inside Asian Gaming takes a look back at the biggest stories of the past week Friday, 23 February 2018 06:55

TGG to deploy content on Solaire Resort & Casino’s gaming floor

TGG to deploy content on Solaire Resort & Casino’s gaming floor Hong Kong’s TGG Interactive has announced a deal with Manila’s Solaire Resort & Casino to integrate the Philippines casino operator to its Asian VIP and middle-class focused digital gaming machine library on the casino floor. In a press release, TGG said that the successful deployment at S... Friday, 23 February 2018 05:20

Saipan gaming commissioner accuses Macau casinos of not reporting real VIP volumes

Saipan gaming commissioner accuses Macau casinos of not reporting real VIP volumes The Executive Director of the Commonwealth Casino Commission (CCC), the gaming regulatory body of the Northern Mariana Islands, has attributed the comparatively enormous VIP rolling chip volumes running through Imperial Pacific International’s (IPI) Saipan casino to Macau operators failing to repo... Friday, 23 February 2018 05:06

Macau’s Chinese New Year visitation grows 6.5%

Macau’s Chinese New Year visitation grows 6.5% Macau’s visitor arrivals surged by 6.5% year-on-year to more than 960,000 during Chinese New Year, including around 710,000 from mainland China, according to preliminary statistics released by the Macao Government Tourism Office (MGTO). The figures cover the seven days of Spring Festival Golden W... Friday, 23 February 2018 04:27

Current Issue

Design For Profit

Design For Profit Architect Paul Steelman provides his insights into designing the most expensive privately funded buildings on earth and making and breaking trends. By Muhammad Cohen | Editor-at-Large EMINENT casino architect Paul Steelman helped create the Asian gaming boom with the groundbreaking design of Sands... Monday, 29 January 2018 15:11

Climbing the mountain

Climbing the mountain   ASX-listed Silver Heritage Group finally launched hotel and casino operations at its new Tiger Palace Resort Bhairahawa in late 2017, having survived the 2015 earthquake, a fuel blockade on the Nepal-India border and an AU$19 million (US$14.4 million) funding shortage as a result of the delays. ... Monday, 29 January 2018 15:07

Can sportsbooks survive a 1% tax on handle?

Can sportsbooks survive a 1% tax on handle?   The big news coming out of the United States this year is the likely striking down of the federal ban on sports betting. But with many states licking their lips in anticipation of added tax dollars, the sports betting industry may well have another crippling fight on its hands. THE US Supreme C... Monday, 29 January 2018 15:05

Herman Ng:Macau Pioneer

Herman Ng:Macau Pioneer Inside Asian Gaming discovers a bit more about Herman Ng, CEO and Executive Director of Macau-based slot machine services firm Asia Pioneer Entertainment (APE). Ben Blaschke: Can you start by telling us a bit about yourself and your background? Herman Ng: I grew up in Macau and then when I was 16 ... Monday, 29 January 2018 14:52