{"id":777020060,"date":"2024-10-22T09:48:32","date_gmt":"2024-10-22T12:48:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777020060"},"modified":"2026-04-22T04:57:48","modified_gmt":"2026-04-22T07:57:48","slug":"bloomberry-coo-increases-shareholding-via-stock-incentive-plan","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bloomberry-coo-increases-shareholding-via-stock-incentive-plan","title":{"rendered":"Bloomberry COO increases shareholding via Stock Incentive Plan"},"content":{"rendered":"\n

Thomas Arasi now directly owns around 16.6m shares in Bloomberry.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Bloomberry Resorts<\/strong> has announced through a company filing that Thomas Arasi<\/strong>, its president and chief operating officer, has increased his shareholding under the company’s Stock Incentive Plan. Arasi received nearly 9.3m shares at a price of PHP7.78 (US$0.13) per share. He now has direct ownership of approximately 16.6m shares in the casino operator. He indirectly controls another 21.9m.<\/p>\n\n\n\n

Bloomberry’s stock incentive plan<\/a> was extended in 2022. The plan does not offer a stock option but provides a grant of shares as an additional form of compensation to eligible recipients.<\/p>\n\n\n\n

Meanwhile, the company has signed a PHP72bn (US$1.24bn) syndicated refinancing facility<\/a> that replaces a previous PHP73.5bn (US$1.27bn) loan facility acquired in 2018 and a PHP20bn (US$345.5m) term loan obtained in December 2020. The agreement was reached with a group of banks.<\/p>\n\n\n\n

The company said the agreement is priced at a spread 75 basis points lower than the previous facilities, with an option to fix the interest rate within the next 12 months. \u201cThis feature will allow Bloomberry to benefit from further interest rate cuts that are expected to be implemented in the coming months,\u201d the company said.<\/p>\n\n\n\n

The group of lenders comprises BDO Unibank, Bank of the Philippine Islands, China Banking Corporation, and Philippine National Bank. BDO Capital and Investment Corporation acted as the main organiser and only book-runner, while BDO Unibank \u2013 Trust and Investments Group will serve as the security trustee, facility agent and paying agent.<\/p>\n\n\n\n

The company said Solaire Resort North is expected to contribute to the group\u2019s cash flows as it becomes more profitable in the coming quarters. The venue opened in Quezon City in May and is expected to achieve full operational capacity within two years<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Thomas Arasi now directly owns around 16.6m shares in Bloomberry.<\/p>\n","protected":false},"author":176,"featured_media":29713,"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' President and COO, Thomas Arasi, significantly increased his direct shareholding via the company's Stock Incentive Plan. Concurrently, Bloomberry secured a PHP72bn syndicated refinancing facility at a 75 basis point lower spread, replacing prior loans and positioning the company to benefit from anticipated interest rate cuts. This financial maneuver, alongside the expected cash flow contribution from the newly opened Solaire Resort North, underscores strategic capital management and operational growth.","focusai_entities":"Thomas Arasi, Bloomberry Resorts, BDO Unibank, Bank of the Philippine Islands, China Banking Corporation, Philippine National Bank, BDO Capital and Investment Corporation, BDO Unibank \u2013 Trust and Investments Group, Solaire Resort North","focusai_location":"Philippines, Quezon City","focusai_target_profile":"ceo_executive (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Refinancing Impact","query":"How will the 75 basis point reduction in spread on Bloomberry's syndicated refinancing facility impact its net interest expense and overall profitability in the next fiscal year, especially considering the option to fix interest rates?"},{"label":"Solaire North GGR Projections","query":"What are the projected Gross Gaming Revenue (GGR) contributions from Solaire Resort North once it reaches full operational capacity, and how will this influence Bloomberry's consolidated EBITDA margins and market share?"}],"footnotes":""},"categories":[163,16333],"tags":[15417],"class_list":["post-777020060","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\/777020060","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=777020060"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020060\/revisions"}],"predecessor-version":[{"id":777020074,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020060\/revisions\/777020074"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/29713"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777020060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}