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Jimei International Terminates Casino Agreement

Jimei International Terminates Casino Agreement

It has been revealed that Hong Kong-listed junket investor Jimei International Entertainment Group Ltd. is not going to renew partnership with NagaCorp, Phnom Penh.

The contract’s duration lasted between May 2015 and January 2017. In addition, Jimei International terminated a framework agreement with two companies with regard to the development of an “entertainment resort” featuring a hotel, golf course and theme park in Cambodia. No particular reason about the withdrawal from the deal was disclosed.

According to media reports, Jimei International concluded financial year 2016 with a loss of HK$39.8 million (US$5.1 million).

At the same time, Jimei International is going to extend the target date for the completion of its contract with Macau-based junket operator New International Club Ltd. to the end of June. The company has two more junket arrangements with The Star Casino in Sydney and Crown Perth in Western Australia.

Jimei International has its own Jimei Casino on the Macau Peninsula, operating under an SJM Holdings Ltd. license.

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