In the United States and the billionaire Chairman of Asian casino operator Bloomberry Resorts Corporation is reportedly facing a federal lawsuit over the cancellation of a deal that was to have seen Global Gaming Philippines LLC provide services to his firm’s Solaire Resort and Casino.
According to a Monday report from the Bloomberg news service, the action against Enrique Razon (pictured) was filed by the subsidiary of American entertainments firm Global Gaming Asset Management LLC in an attempt to confirm a $296.6 million judgement handed down by the High Court of Singapore some 14 months ago. This earlier ruling purportedly came after the plaintiff successfully proved that Bloomberry Resorts Corporation through its Bloomberry Resorts and Hotels Incorporated and Sureste Properties Incorporated subsidiaries had unlawfully revoked an arrangement concerning the 500-room casino resort located in Manila’s Entertainment City district.
These Bloomberry Resorts Corporation subordinates reportedly inked a multi-year alliance in 2011 that was to have seen Global Gaming Philippines LLC provide the four-star Solaire Resort and Casino with a range of management services covering such areas as design, recruitment and construction. However, the Manila-listed operator unilaterally cancelled this understanding only six months after premiering the Philippines facility in March of 2013 citing ‘failure of discussions’ and ‘material breach’ claims.
Unhappy with this move and Global Gaming Philippines LLC subsequently filed a lawsuit in Singapore seeking damages and costs as well as pre-termination expenses and fees. The High Court of Singapore later agreed and awarded the plaintiff ownership and control of over 921.18 million shares in Bloomberry Resorts Corporation as part of a $296.6 million settlement.
Global Gaming Philippines LLC has now reportedly filed an action before the United States District Court for the Southern District of New York amid an assertion that neither Bloomberry Resorts Corporation or Razon have yet to honor the Singapore judgement. The plaintiff is purportedly alleging that the 61-year-old Filipino businessman has moreover ‘formed a vast network of shell companies’ to hide assets in the United States so as to make them free from adjudication.
The 14-story Solaire Resort and Casino sits on a 21-acre plot of land located only about a ten-minute drive from Manila’s Ninoy Aquino International Airport, which handled a record-breaking 45 million travelers in 2018. The large property features a number of restaurants and bars in addition to a 1,900-space parking garage, an outdoor pool and a spa and gym facility with its 199,000 sq ft casino offering a selection of approximately 1,400 slots and 300 gaming tables.