• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Singapore court dismisses a Bloomberry appeal vs GGAM 

Feb 17, 2021 Newsdesk Latest News, Philippines, Top of the deck  


Singapore court dismisses a Bloomberry appeal vs GGAM 

Philippines-based casino operator Bloomberry Resorts Corp says the Singapore Court of Appeal has dismissed an appeal from two Bloomberry subsidiaries regarding a case against Global Gaming Philippines LLC, a unit of United States-based Global Gaming Asset Management LLC (GGAM).

The court decision was issued on Tuesday (February 16), according to a filing on Wednesday to the Philippine Stock Exchange.

Bloomberry developed and operates the Solaire Resort and Casino (pictured), a property that opened in the Philippine capital Manila in March 2013.

Bloomberry said two of its units had applied to the Singapore Court of Appeal about a January 2020 decision from the city-state’s High Court, on a partial award in favour of entities linked to GGAM.

The appeal to the highest court in Singapore was filed in June by Bloomberry Resorts and Hotels Inc and Sureste Properties Inc, according to the parent company.

In the January 2020 decision, the High Court dismissed Bloomberry’s petition to “vacate and oppose the enforcement of the partial award” decision made by a Singapore-based arbitration tribunal in September 2016.

The earlier decision made by a Singapore-based arbitration tribunal in September 2019 ordered the two Bloomberry units to pay about US$296 million to Global Gaming Philippines and GGAM Netherlands BV.

Bloomberry’s case to “set aside and oppose” the enforcement of the final award was also denied by the Singapore High Court in January 2020, and “is now subject of a separate appeal …pending with the Singapore Court of Appeals,” said the casino operator in its Wednesday filing.

The case related to the termination of a management services agreement that had existed between the Bloomberry subsidiaries and the entities linked to GGAM. The latter group in turn has links to former casino executive William Weidner.

In September 2016, the same international arbitration tribunal in Singapore ruled that the Bloomberry subsidiaries were “not justified” in terminating the management services contract with the GGAM unit. The tribunal also affirmed GGAM’s ownership of – and right to sell – the 921,184,056 shares it held in Bloomberry.

The casino operator stated in its latest filing that, according to its legal advisors, “the arbitration award is not self-executing” and the partial award “may be enforced in the Philippines only through an order of a Philippine court of proper jurisdiction.”


  • tweet
Related articles
  • PH Resorts widens 1Q loss, affirms going concern risk
    PH Resorts widens 1Q loss, affirms...

    May 17, 2022  

  • Bloomberry 1Q consolidated net revenue up 9pct q-o-q
    Bloomberry 1Q consolidated net revenue...

    May 13, 2022  

More news
  • Over 7.9mln Bloomberry shares vested to some senior execs
    Over 7.9mln Bloomberry shares vested to...

    May 18, 2022  

  • Light & Wonder sets US1.4bln AEBITDA target for 2025
    Light & Wonder sets US1.4bln...

    May 18, 2022  


Latest News

Over 7.9mln Bloomberry shares vested to some senior execs

Over 7.9mln Bloomberry shares vested to some senior execs

May 18, 2022  

Bloomberry Resorts Corp – the operator of Solaire Resort and Casino (pictured) in the Philippine capital Manila – on Wednesday announced in a series of filings, that an aggregate of just over 7.9...
Read More
Light & Wonder sets US1.4bln AEBITDA target for 2025

Light & Wonder sets US1.4bln AEBITDA target for 2025

May 18, 2022  

U.S. says Steve Wynn ‘foreign agent’, lobbied for China

U.S. says Steve Wynn ‘foreign agent’, lobbied for China

May 18, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$10 billion

Target set by gaming equipment and online content provider Light & Wonder for total capital creation from 2022 to 2025



Most Popular

  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
  • Macau repeat visitors denied visa by China says BernsteinMacau repeat visitors denied visa by China says Bernstein May 16, 2022
  • Macau GGR tax cut may spur 15pct EBITDA hike: JP MorganMacau GGR tax cut may spur 15pct EBITDA hike: JP Morgan May 16, 2022
  • Macau mulls GGR tax cut if casinos attract foreign playersMacau mulls GGR tax cut if casinos attract foreign players May 13, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us