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A Singapore appeals court won't nix an arbitral award finding that Bloomberry Resorts and Hotels Inc. wrongly ousted a casino operator from managing its $1.2 billion Philippine resort and casino, ruling that the operator hadn't wrongly hidden unrelated U.S. corruption probes from the tribunal.
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.