Bloomberry sacks French, GGAM from Solaire

Bloomberry Resorts Corp. said it has terminated the management services agreement with Global Gaming Philippines LLC (GGAM) over the latter’s failure to manage Solaire Resort and Casino ABS-CBNnews reported. In a disclosure to the stock exchange, Bloomberry said it also sacked Solaire’s chief operating officer Michael French, who is also GGAM’s representative in the casino. The company said it will hire an “experienced” casino hotel executive to replace French. Bloomberry said it ended the contract with GGAM, since the latter has not spent “material time” in attending to the management of Solaire. It also accused GGAM of failing to perform its obligations and deliverables under the management services agreement. In a statement, GGAM said Bloomberry’s allegations have no legal basis. The company said it will seek arbitration in Singapore to resolve the dispute ABS-CBNews reported.  The dispute between Bloomberry and GGAM comes just a few months after the $1-billion Solaire was opened to the public. Solaire opened in mid-March to much fanfare, as it was the first casino to open at Pagcor’s Entertainment City. In the second quarter, the Enrique Razon-led company said it posted a P22.7 million profit, on the back of Solaire’s P3.59 billion revenues.