US court upholds decision to dismiss Bangladesh Bank suit against Bloomberry
The appellate division of a New York state court cited a lack of jurisdiction.
The Philippines.- Bloomberry Resorts Corp, the parent company of Solaire Resort and Casino in Manila, has announced that the appellate division of the New York Supreme Court has upheld a previous order to dismiss a civil suit filed against one of Bloomberry’s units by the Bangladesh Bank. The court ruled that the case lacked jurisdiction.
The lawsuit stemmed from a May 2020 civil subpoena received by Bloomberry entities in September of that year. That was in connection with another case in the United States related to an online theft from Bangladesh Bank in 2016 that resulted in the alleged transfer of US$81m, with some of the funds believed to have been channelled through Philippine casinos, including Solaire.
Last April, a state court in New York granted Bloomberry’s motion to dismiss the civil suit for lack of jurisdiction. The decision by the appellate division upholds this dismissal.
The lawsuit accused Bloomberry Resorts and Hotels of conversion, theft, misappropriation, aiding and abetting such actions, conspiracy, fraud against Rizal Commercial Banking Corp, and other charges related to the alleged stolen funds.
Bloomberry reported gross gaming revenue (GGR) for the first quarter of the year at Solaire Resort and Casino in the Metro Manila region was PHP16bn (US$287m), up 80 per cent year-on-year. Compared to the fourth quarter of 2022, GGR at Solaire improved by 9 per cent.
