Case Moves to New York<\/strong><\/h2>\nIn 2021, GGAM sued Bloomberry in New York, asking the court to enforce the Singapore tribunal\u2019s decision against Razon\u2019s U.S. assets. The lawsuit claimed these were concealed through a vast network of shell companies. Those included energy and mineral holdings in the Appalachian Basin acquired from T. Boone Pickens for $150 million, Steve Wynn\u2019s former residence at the Plaza purchased for $24.4 million, and various substantial real-estate assets in New York.<\/p>\n
The agreement to settle came after the New York court declined a motion last year by Bloomberry to dismiss the case.\u00a0 The settlement deal puts an end to all pending cases between the two parties, including those in Nevada, the Philippines, and Singapore, Bloomberry said Tuesday.<\/p>\n","protected":false},"excerpt":{"rendered":"
A longstanding court battle between the Philippines\u2019 Bloomberry Resorts Group and Las Vegas-based Global Gaming Asset Management (GGAM) was settled Tuesday after more than a decade of bad blood. Bloomberry announced in a regulatory filing Tuesday it would buy Global Gaming\u2019s 921.2 million Bloomberry shares for US$300 million via a block sale on the Philippine […]<\/p>\n","protected":false},"author":36,"featured_media":314800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62,33810,81883,60],"tags":[13519,85544,90287,90286,13518],"acf":[],"yoast_head":"\n
Bloomberry Settles Decade-Old Contract Spat with GGAM for $300M<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n