Senior executives at tycoon Enrique Razon Jr.’s Bloomberry Resorts Corp. sold about P7.5 million worth of company shares last week, the casino operator said in a stock exchange filing on Tuesday.
Bloomberry president Thomas Arasi sold over 539,000 shares valued at about P5.5 million when the company was trading between P10.10 to P10.40 per share from May 6 until May 8 this year.
Cyrus Sherafat, the company’s executive vice president and head of gaming, sold over 215,000 shares valued at P2.2 million, also from May 6-8.
On Tuesday, Bloomberry said total gaming revenues during the first quarter of the year dropped 8 percent to P14.8 million amid declines in its VIP and mass table segments. This contributed to an 11 percent drop in quarterly profit to P2.6 billion.
Based on the PSE’s disclosure rules, directors and principal officers must not trade their own securities while in possession of nonpublic information and up to two full trading days after this is disclosed to the public.
