Bloomberry terminates Solaire COO, management partner

Bloomberry Resorts Corp. on Friday said it terminated an agreement with Global Gaming Philippines LLC (GGAM) to manage Solaire Manila Resort & Casino and fired its chief operating officer on "material breach."

 

Bloomberry and its operating subsidiaries Sureste Properties Inc., Bloomberry Resorts and Hotels Inc. and owners and operators of Solaire have terminated the management services agreement (MSA) with GGAM, the parent company said in a disclosure to the Philippine Stock Exchange.

 

"GGAM has not spent any material time in attending to the management of Solaire and has failed to perform its obligations and deliverables under the MSA," the disclosure read.

 

In an e-mailed statement to reporters, GGAM, through communications consultancy firm Abernathy MacGregor, said Bloomberry's assertions "have no factual or legal validity."

 

"Bloomberry has materially breached that agreement and GGAM is pursuing its rights under that contract in arbitration in Singapore,” it said.

 

Meanwhile, Bloomberry noted that "many members of the existing management team are very capable and will continue to manage Solaire effectively without GGAM and its representative."

 

The group said it is now looking for an experienced casino hotel executive to replace Solaire's then chief operating officer Michael French, the official representative of GGAM.

 

GGAM is Bloomberry's management and technical partner in Solaire Manila. It has invested in, developed and operated casinos and integrated resorts globally, particularly in Las Vegas. — Danessa Rivera/VS, GMA News