This film wasn't horrible, but it was far from great. As long as you don't expect too much from the story, it is fairly passable, in fact. I knew who the ultimate bad guy was about 30 minutes into the film, but sat around for the remainder of the action just to see it confirmed. I actually like Ice-T as an actor, but he could have phoned this performance in. There was no real background given for the characters or the story--heck, I've seen role-playing game modules with more--but if you're looking for a semi-suspenseful way to waste a couple of mindless hours (and you enjoy this kind of film), you probably won't be too disappointed.
One thing that did disappoint me was the lack of light used in shooting any of the scenes. What we could see of the set suggested that it was quite opulent and I would have liked to see more of it. With all of the flaws in this film it seems like a minor complaint, but I guess that is should be expected based on the film's plot