BLOOMBERRY Resorts Corp. announced on Monday that the New York court granted its motion to dismiss the complaint filed by Bangladesh Bank against its subsidiary, Bloombery Resorts and Hotels, Inc.
“The New York Court granted Bloomberry Resorts and Hotels’ motion to dismiss the complaint filed by Bangladesh Bank as against Bloomberry for lack of jurisdiction,” the company said in a disclosure.
The Solaire Resort & Casino operator said the decision and order was dated April 8 and was received on April 9.
The dispositive portion stated that the court granted Bloomberry Resorts and Hotels’ motion to dismiss the complaint. The court ordered that the complaint be “dismissed in its entirety as against the defendant, with costs and disbursements to defendant Bloomberry Resorts and Hotels,’ as taxed by the Clerk of the Court, and the Clerk is directed to enter judgment accordingly in favor of defendant.”
The complaint in the state court was for the conversion, theft, misappropriation; aiding and abetting the same; conspiracy to commit the same; fraud; aiding and abetting and conspiracy to commit fraud; conspiracy to commit trespass against chattels; unjust enrichment; and return of money received.
Bloomberry Resorts Corp. is a holding company for hotel and gaming and entertainment business companies.
Through its subsidiaries, the company is the owner and operator of Solaire Resort & Casino. Its other subsidiaries include Sureste Properties, Inc.; Bloomberry Resorts and Hotels, Inc.; Bloomberry Cruise Terminals, Inc.; Solaire Korea Co., Ltd.; and Bloomberry Resorts Japan, Inc.
Bloomberry Resorts Corp. reported that it trimmed its net loss for 2021 to P4.2 billion from a loss of P8.3 billion a year earlier.
Meanwhile, its consolidated net revenue in 2021 was up 24% to P22 billion from P17.8 billion in 2020.
At the stock exchange on Monday, Bloomberry Resorts Corp. shares were up 1.45% or P0.09 to close at P6.31 each. — Luisa Maria Jacinta C. Jocson