Global Gaming deal on shares in Razon's Bloomberry Resorts consummated

Billionaire Enrique Razon Jr.'s Bloomberry Resorts Corporation on Friday said that Global Gaming Philippines LLC has consummated the share purchase option on 921,184,056  Bloomberry shares at P1.67 apiece in a special block sale.

 

Global Gaming bought the shares from Prime Metroline Holdings Inc. for a total consideration of $15 million, plus a 10 percent seller's cost of investment in a casino hotel. Both are parties to “a participation agreement... on participation rights in new shares, tag-along and drag-along rights and co-investment rights...” Bloomberry corporate secretary Silverio Benny Tan disclosed to the Philippine Stock Exchange.

 

Global Gaming holds the services management contract to Bloomberry’s $1.2-billion Solaire Manila casino hotel project in Pasay City.

 

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