Hong Kong-listed junket investor Rich Goldman Holdings is searching for a new Macau junket operator after parting ways with its one remaining operator, Hoi Long Sociedade Unipessoal Limitada.
The company revealed on Monday that it had been informed by Hoi Long, which runs eight VIP tables at SJM’s Grand Lisboa in Macau, that the operator would not seek an extension of its collaboration contract with SJM when it expires in April 2020 due to “challenging economic conditions and the recent outbreak of Coronavirus.”
Rich Goldman had previously worked with three junket partners but lost two of those in 2017 when Venetian Macao Limited (VML) terminated promotion agreements with Hao Cai Sociedade Unipessoal Ltd to operate 14 VIP tables at the Venetian and Hou Wan Entertainment Ltd to operate 10 VIP tables at Sands Macao.
In response to this latest news, the company said, “The Group will use all reasonable endeavors to identify new junket operators for its gaming business. If the Group is unable to identify new junket operators, the Group will cease to have income stream from its gaming business.”
Rich Goldman recently reported a 50.2% decline in revenue to HK$35.2 million in the six months to 31 December 2019, with its Grand Lisboa gaming business falling 63% to HK$18 million.
RelatedPosts
