Going all in! Bloomberry execs load up on close to P35M of casino-hotel's shares

Tuesday 19th May 2020

Five executives of Bloomberry Resorts Corp. are betting on their company amid rising pandemic fears.

The five executives led by President and COO Thomas Arasi acquired a combined P32.9 million from May 19 to 20 at P5.20 per share.

Aside from Arasi who bought P17 million worth of shares, the other Bloomberry oficials who disclosed their shares purchases to the Philippine Stock Exchange were Executive Vice President for Casino Marketing Cyrus S. Sherafat (P5.848 million), Executive Vice President for International Marketing Laurence Upton (P4.224 million), Director Donato C. Almeda (P3.11 million), and Jose Eduardo J. Alarilla (P2.746 million).

Bloomberry shares are 54 percent below their peak of P11.60 in the last 12 months. On May 19, Bloomberry sold P55.75 million worth of shares at P5.20 each under its stock investment plan for employees, officers, and directors.

Bloomberry operates the Solaire Resort and Casino Hotel which has been closed since the government imposed a lockdown on March 14. It remains to be seen when Solaire will open.

Bilyonaryo Ricky Razon, chair of Bloomberry, plans to operate the hotel casino at 20 percent capacity once it was allowed to resume its business.

Source
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