is an indirect wholly-owned subsidiary of Bloomberry Resorts Corporation, owned by the Philippines' third richest man Enrique Razon.
This Supreme Court decision will allow Pagcor and BRHI
as an integrated casino resort to revert to the original license fee structure of 15 percent and 25 percent license fee (inclusive of the 5 percent franchise tax) for high rollers/junket and mass gaming respectively,' the disclosure said.
These Shares are subject of a counterclaim by BRHI
and SPI in the arbitration case, and if the sale of the Shares is completed, the Petitioners will not be able to get back the Shares and they will not be able to satisfy any judgment for damages that they may be able to obtain against GGAM in their ongoing arbitration proceedings on the termination of their MSA because of GGAM's uncured material breach of the MSA," Bloomberry said.
However, the same tribunal denied the request of GGAM to be declared the full legal and beneficial owner of the shares, free of any claims, liens or encumbrances by BRHI, SPI and Enrique Razonled Prime Metroline Holdings Inc.
The order also denied the request of GGAM to order BRHI, SPI and PMHI to disclose to the Philippine Stock Exchange that GGAM was the legal and beneficial owner of the shares.
acted as the issuer of the corporate notes while Sureste guaranteed the debt notes.