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BLOOM slumps after Singapore arbiter allows estranged partner to sell shares

12 Dec

Bloomberry Resorts Corporation (BLOOM) slumped after Global Gaming Philippines LLC (GGAM) was cleared by the arbitration tribunal in SIngapore to divest its 921.18 million shares in the Philippine company.

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BLOOM last year terminated its contract with GGAM for the management of the former’s Solaire Resorts and Casino. In ending the deal, BLOOM cited material breach of contract, prompting the Philippine unit of the Las Vegas casino operator to file an arbitration suit in Singapore.

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Posted by on December 12, 2014 in BLOOM, Corporate News, Stock Market

 

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