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Court temporarily stops Bloomberry stake sale
Thursday 23rd of January 2014
A Makati-court has granted a request by Bloomberry Resorts Corp to stop its former partner from selling a minority stake in its stock, worth $165 million. The court issued a 20-day restraining order against Global Gaming Philippines, which owns 8.7 percent of Bloomberry, the operator of the Solaire casino. Bloomberry is seeking to block the sale because of ongoing arbitration proceedings with Global Gaming Asset Management (GGAM), whose contract to manage Solaire was terminated last year.
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