Global Gaming buys 921M Bloomberry shares

Bloomberry Resorts Corporation on Wednesday said that Global Gaming Philippines LLC has bought 921,184,056 Bloomberry shares.

 

As the management services provider in Bloomberry's Solaire Manila casino hotel project, Global Gaming has the option to buy the shares and called on that option last Friday, Bloomberry noted in a disclosure to the Philippine Stock Exchange.

 

The shares will be sold by Prime Metroline Holdings Inc. for $15 million plus 10 percent of the seller’s cost of investment in the project equivalent to P1.67 per share.

 

Bloomberry was one of four groups that obtained a license to operate a casino in the Philippine Amusement and Gaming Corporation’s  Entertainment City – a Las Vegas-style gaming district in Pasay City. The others were Andrew Tan’s Alliance Global, Kazuo Okada’s Tiger Resorts and Henry Sy’s Belle Corp. — VS, GMA News