Bloomberry Resorts Corp’s board of directors has approved revisions to the company’s stock incentive plan, which now excludes directors.<\/p>\n\n\n\n\n\n\n\n
Singapore.- Casino operator\u00a0Bloomberry Resorts Corp<\/strong>\u00a0has reported that amendments to the company\u2019s stock incentive plan for directors, officers, and employees (SIP) have been approved by the board. Eligible participants have been amended to exclude directors<\/strong> provided that directors who are officers or who are given executive functions are not disqualified to receive SIP shares as an executive.<\/p>\n\n\n\n Bloomberry said its stock incentive program is designed to give employees a direct share of company value to incentivise employees and other stakeholders to be more productive and remain in the group. The programme has been extended for 10 years from May 24, 2022.<\/p>\n\n\n\n The company’s stock-incentive plan does not grant stock options<\/strong>, but shares as additional compensation to eligible recipients.<\/p>\n\n\n\n Bloomberry<\/a>\u00a0<\/strong>recently shared its\u00a0financial results for the fourth quarter of 2021<\/strong>. Gross gambling revenue at Solaire Resort was up 50 per cent year-on-year to PHP8bn (US$153m) and up 13 per cent when compared to the previous quarter when\u00a0revenue was PHP7.1bn<\/a>.<\/p>\n\n\n\n Bloomberry Resorts Corporation\u2019s<\/strong> subsidiary in the Philippines has announced that a New York state court has granted its motion to dismiss a civil lawsuit brought against it by Bangladesh Bank. Bloomberry Resorts Corp, the parent company of Bloomberry Resorts and Hotels, said the lawsuit was dismissed for \u201clack of jurisdiction\u201d.<\/p>\n\n\n\n The company said the costs and expenses of Bloomberry Resorts and Hotels and its Solaire Resort and Casino were taxed by the clerk of the court.<\/p>\n\n\n\n The lawsuit stemmed from a May 2020 civil subpoena received by Bloomberry entities in September of that year<\/a> in connection with another case in the United States related to an online theft from Bangladesh Bank in 2016<\/a>. <\/p>\n\n\n\n The theft reportedly netted US$81m<\/strong>, a portion of which was reportedly diverted through various Philippine casinos, including the Solaire Resort & Casino in Metro Manila. The operator was only one of 17 firms and individuals named in the original lawsuit.<\/p>\n","protected":false},"excerpt":{"rendered":" Bloomberry Resorts Corp’s board of directors has approved revisions to the company’s stock incentive plan, which now excludes directors.<\/p>\n","protected":false},"author":176,"featured_media":21007,"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 Corp has revised its stock incentive plan, now excluding non-executive directors, and extended it for ten years to incentivize employees. Concurrently, the company reported a 50% year-on-year GGR increase for Solaire Resort in Q4 2021, reaching PHP8bn. Furthermore, a US court dismissed a civil lawsuit by Bangladesh Bank against a Bloomberry subsidiary, citing lack of jurisdiction, regarding a 2016 online theft.","focusai_entities":"Bloomberry Resorts Corp, Solaire Resort, Bloomberry Resorts and Hotels, Bangladesh Bank","focusai_location":"Philippines, New York, Metro Manila","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.9), operator_casino (0.9), payments_fraud_aml (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"SIP Governance Implications","query":"How will the revised stock incentive plan, specifically the exclusion of non-executive directors, impact Bloomberry's long-term executive compensation strategy and corporate governance alignment with shareholder interests?"},{"label":"AML Jurisdictional Precedent","query":"What are the broader implications for international AML compliance and jurisdictional liability for iGaming operators following the dismissal of the Bangladesh Bank lawsuit against Bloomberry?"}],"footnotes":""},"categories":[163,16333],"tags":[15417],"class_list":["post-29173","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\/29173","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=29173"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29173\/revisions"}],"predecessor-version":[{"id":29182,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29173\/revisions\/29182"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21007"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=29173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}US Court dismisses Bangladesh Bank civil suit against Bloomberry<\/h2>\n\n\n\n