Philippines casino operator Bloomberry Resorts has lost a court fight with the former manager of its Solaire Resort & Casino in Manila.
On Thursday, word broke that a Singapore-based arbitration court had ruled that Global Gaming Philippines, a division of Nevada-based Global Gaming Asset Management (GGAM), had been unjustly terminated from its role as manager of Solaire’s gaming operations.
Bloomberry gave GGAM the boot in September 2013, just months after Solaire’s opening, claiming the firm had failed to live up to the terms of its contract. Specifically, Bloomberry claimed GGAM had failed to deliver the expected number of VIP gamblers to Solaire’s gaming tables. The William Weidner-led GGAM counter-claimed that it had not only met but had exceeded its obligations.
The proverbial shit hit the fan when GGAM chose to sell off its entire 8.7% stake in Bloomberry. The casino operator sued to block the selloff and the parties elected to hash out their differences in the Singaporean Arbitration Tribunal.