Casino operator Global Gaming demands millions of dollars from Filipino billionaire

Gambling News and Lucky Stories

Global Gaming Philippines LLC, the largest casino operator, has filed a lawsuit in the US District Court for the Southern District of New York demanding that Filipino billionaire Enrique Razon pay $296.6 million under an earlier arbitration court decision in Singapore. The tycoon himself, Bloomberry Resorts and Hotels Inc, Sureste Properties Inc, and a number of other companies associated with the billionaire are listed as defendants in the lawsuit. The plaintiff also points out that Razon transferred part of his assets to the United States in order to evade the payments awarded to him. Earlier, an affiliate of Global Gaming Asset Management LLC sued Bloomberry Resorts operator Solaire Resort and Casino for illegally terminating an agreement to operate a casino in Manila. Litigation and appeals lasted from the fall of 2016 until September 2019, when an arbitration court in Singapore seemingly ended and ordered the two subsidiaries of Bloomberry Resorts to pay $296.6 million to Global Gaming Philippines. As previously reported, in the capital of the Philippines, Manila, all casinos have been closed and a night curfew has been introduced.

Rate article
( No ratings yet )
myluckustory
Add a comment