Ricky Razon snaps up P179M Bloomberry shares as casino stock falls due to Migz Zubiri’s ‘misinformation’ on China’s blacklisting of PH tourism

Ricky Razon and Senator Migz Zubiri

Bloomberry Resorts (BLOOM) of ultra bilyonaryo Ricky Razon bought back a pile of its shares after stumbling to its lowest since July this year.

BLOOM purchased 30 million shares at P5.97 per share on October 11.

Investors sold down the shares on Senate President Migz Zubiri’s erroneous claim during a Senate hearing on the same day that China would place the Philippines on its blacklist of tourist spots for its citizens as punishment for the continued operation of Philippine Offshore Gaming Operations (POGO).

BLOOM gained 3.85 percent to P6.20 on October 12 after the Chinese embassy branded Zubiri’s claim as “misinformation” as it expected Chinese tourists to flock to the Philippines after the pandemic.

This is the second time BLOOM bought back shares this year. BLOOM purchased 13.791 million shares at P5.90 on July 28.

https://bilyonaryo.com/2022/10/12/ricky-razon-snaps-up-p179m-bloomberry-shares-as-casino-stock-falls-due-to-migz-zubiris-misinformation-on-chinas-blacklisting-of-ph-tourism/business/