Galaxy Entertainment Group says it was the one to terminate the VIP rooms run by Iao Kun Group Holdings Ltd, after the junket operator breached agreements made with the casino operator.
Last week, IKGH announced it has closed its VIP gaming rooms at the Galaxy Macau and StarWorld, effective September 10. In a press release from the junket sent on Wednesday, IKGH said the closures were part of its comprehensive strategic review of its VIP gaming room operations in Macau, adding the closure of both facilities will generate total annual savings of approximately $4 million.
However, in a statement from Galaxy Entertainment on Thursday, the operator said otherwise.
“Galaxy Entertainment Group Limited has terminated the promoter agreements with Iao Kun and closed Iao Kun VIP rooms in the Galaxy Macau Casino and StarWorld Casino And Hotel Resort as a result of Iao Kun breach of the agreements made with us,” read a statement from Buddy Lam, Public Relations Assistant Senior Vice-President for Galaxy Entertainment Group Limited.
“With the termination of the business relationship with Iao Kun, Galaxy Entertainment will pursue vigorously against Iao Kun for its breach of undertakings and agreements by taking legal action against it and its relevant directors and/or officers,” he added.
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