{"id":21331,"date":"2021-08-10T13:34:32","date_gmt":"2021-08-10T16:34:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=21331"},"modified":"2026-04-23T16:46:23","modified_gmt":"2026-04-23T19:46:23","slug":"bloomberry-resorts-buys-back-40m-shares","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bloomberry-resorts-buys-back-40m-shares","title":{"rendered":"Bloomberry Resorts buys back 40m shares"},"content":{"rendered":"\n<p>Bloomberry Resorts has bought back 40m shares to cover the number of shares granted to certain officers and employees under the Stock Incentive Plan (SIP).<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.- Casino operator<strong>\u00a0Bloomberry Resorts Corporation\u00a0<\/strong>has <strong>acquired 40m shares from the open market\u00a0<\/strong>as part of its Stock Incentive Plan.<\/p>\n\n\n\n<p>According to a company disclosure, the purpose of the share buyback is to\u00a0<strong>cover the number of shares granted to certain officers and employees<\/strong>\u00a0under its <strong>Stock Incentive Plan (SIP)<\/strong>.<\/p>\n\n\n\n<p>Bloomberry increased the maximum number of shares for the share buyback program to 350m on August 2.<\/p>\n\n\n\n<p>The casino operator had been<strong>\u00a0operating on an invite-only policy at limited capacity since May<\/strong>. However, a week ago Manila\u2019s city government extended <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/metro-manila-casinos-to-close-until-august-20\">general community quarantine (GCQ)<\/a>\u00a0<strong>until August 15\u00a0<\/strong>and casinos decided to close until August 20.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/bloomberry-ggr-down-18-in-q2\">Bloomberry<\/a>\u00a0reported\u00a0<strong>gross gambling revenue (GGR) of PHP5.67bn\u00a0<\/strong>for Q2 at its Solaire venue, down 18 per cent when compared to the previous quarter.<\/p>\n\n\n\n<p>EBITDA<strong>&nbsp;was PHP1.03bn (US$20.5m), down 31.2 per cent from the previous quarter&nbsp;<\/strong>as the<strong>&nbsp;Solaire Resort&nbsp;<\/strong>was closed for 44 days due to Covid-19 countermeasures. However, the casino operator saw an improvement from the negative figure reported a year earlier.<\/p>\n\n\n\n<p>Bloomberry reported&nbsp;<strong>net revenue for the second quarter of PHP4.71bn<\/strong>, down 14.7 per cent when compared to the previous quarter. However, the figure was up 400 per cent year-on-year. Its&nbsp;<strong>net loss came in at&nbsp;<\/strong>PHP1.16bn, which represents an improvement from PHP4.70bn a year earlier.<\/p>\n\n\n\n<p><strong>Enrique Razon<\/strong>, Bloomberry\u2019s chairman and chief executive, said: \u201cBloomberry generated respectable results during the quarter despite having virtually no gaming operations between April and mid-May.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberry Resorts has bought back 40m shares to cover the number of shares granted to certain officers and employees under the Stock Incentive Plan (SIP).<\/p>\n","protected":false},"author":176,"featured_media":20202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Bloomberry Resorts Corporation executed a 40m share buyback to fulfill its Stock Incentive Plan, concurrently increasing its overall buyback program to 350m shares. The casino operator reported Q2 GGR of PHP5.67bn and a net loss of PHP1.16bn, reflecting operational challenges from COVID-19 related closures in Manila but showing significant year-on-year improvements.","focusai_entities":"Bloomberry Resorts Corporation, Enrique Razon","focusai_location":"Philippines, Manila","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"SIP Impact Analysis","query":"What is the projected dilution impact of the Stock Incentive Plan on existing shareholders, considering the 350m share buyback program ceiling?"},{"label":"Q2 Performance Drivers","query":"Beyond COVID-19 closures, what specific operational efficiencies or revenue diversification strategies contributed to the significant year-on-year improvement in net revenue and reduced net loss for Bloomberry Resorts?"}],"footnotes":""},"categories":[163,16333],"tags":[15417],"class_list":["post-21331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-bloomberry-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=21331"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21331\/revisions"}],"predecessor-version":[{"id":21360,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21331\/revisions\/21360"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20202"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=21331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=21331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=21331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}