Trading of Bloomberry stock halted after GGAM exit


Trading of shares in the operator of Manila’s Solaire Resort and Casino, Bloomberry Resorts Corp, was suspended at the Philippine Stock Exchange yesterday after Global Gaming Asset Management LLC sold its 8.7 percent stake in the company. Bloomberry told the exchange it had asked for trading to be suspended until next Thursday because its former partner, GGAM arm Global Gaming Philippines LLC, had sold all its shares. Bloomberry said it needed to confirm that the buyers of the shares would be unaffected by arbitration proceedings meant to settle its dispute with GGAM. Bloomberry ended its management agreement with GGAM in September, saying GGAM had failed to manage the Solaire casino-resort. GGAM objected and asked arbitrators in Singapore to settle the argument.