ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Asia300

Philippine casino operator to award loyal patrons with stock

Bloomberry comes up with novel way to keep gamblers from fleeing

Bloomberry's Solaire resort in Manila

MANILA -- Bloomberry Resorts will reward its loyal patrons with shares in the Philippine casino company.

The resort operator on Tuesday said it had been authorized by management to buy up to 2 million shares at prevailing market prices. "These shares shall be given as a reward to Solaire's loyal patrons and as part of Solaire's marketing program," a statement says.

The company has already purchased 382,90 shares valued at 4.24 million pesos ($83,000).

Bloomberry runs Solaire, a pioneering integrated resort and casino in the Manila Bay entertainment district. The resort, however, has faced growing competition from upstarts City of Dreams Manila and Okada Manila. The two newer casinos offer gaming chips, electronic gadgets and high-end scooters as rewards.

Despite the competition, Bloomberry last year emerged as the Philippines' most profitable casino, dethroning Resorts World Manila, whose financial performance was hit by a deadly arson attack in June.

From January to September, Bloomberry made 5.91 billion pesos, almost four times more than it did in the same period of 2016. Its shares on Wednesday jumped 5.33% as Manila's benchmark index fell 0.88%.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more