The appellate division of a New York state court cited a lack of jurisdiction.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- Bloomberry Resorts Corp<\/strong>, the parent company of Solaire Resort and Casino in Manila, has announced that the appellate division of the New York Supreme Court <\/strong>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.<\/p>\n\n\n\n The lawsuit stemmed from a May 2020 civil subpoena\u00a0received by Bloomberry entities in September of that year<\/a>. That was in connection with another case in the United States related to\u00a0an online theft from Bangladesh Bank in 2016<\/a>\u00a0that resulted in the alleged transfer of US$81m, with some of the funds believed to have been channelled through Philippine casinos, including Solaire.<\/p>\n\n\n\n Last April,\u00a0a state court in New York granted Bloomberry’s motion to dismiss the civil suit<\/a>\u00a0for lack of jurisdiction. The decision by the appellate division upholds this dismissal.<\/p>\n\n\n\n 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.<\/p>\n\n\n\n Bloomberry<\/a>\u00a0reported 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\u00a0year-on-year<\/a>. Compared to the fourth quarter of 2022, GGR at Solaire improved by 9 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":" The appellate division of a New York state court cited a lack of jurisdiction.<\/p>\n","protected":false},"author":176,"featured_media":21007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Bloomberry Resorts Corp's unit, Solaire Resort and Casino, has secured the dismissal of a civil suit filed by Bangladesh Bank in a New York state court, with the appellate division upholding the lack of jurisdiction ruling. The lawsuit was connected to the 2016 Bangladesh Bank cyber heist, alleging funds were channeled through Philippine casinos. Concurrently, Bloomberry reported a significant 80% year-on-year increase in Q1 Gross Gaming Revenue (GGR) for Solaire.","focusai_entities":"Bloomberry Resorts Corp, Solaire Resort and Casino, Bangladesh Bank, Rizal Commercial Banking Corp, Bloomberry Resorts and Hotels","focusai_location":"New York, Philippines, Manila, Metro Manila, United States","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), compliance_legal (0.95), operator_casino (0.9), payments_fraud_aml (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Jurisdictional Ruling Impact?","query":"What are the broader implications of this jurisdictional ruling for cross-border financial crime litigation involving gaming entities and their B2B\/B2C licensing considerations?"},{"label":"GGR Growth Strategy?","query":"How will Bloomberry's robust Q1 GGR performance influence its capital allocation strategy, potential expansion initiatives, and competitive positioning within the Asian integrated resort market?"}],"footnotes":""},"categories":[439,16333],"tags":[15417],"class_list":["post-777005828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-news","category-south-east-asia-news","tag-bloomberry-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777005828"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005828\/revisions"}],"predecessor-version":[{"id":777005831,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005828\/revisions\/777005831"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21007"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777005828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777005828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777005828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}