Jimei secures junket deals in Australia and Cambodia

Wednesday 20th of April 2016

HK-listed Jimei International Entertainment Group said it had entered into junket agreements with Australian and Cambodian casinos last year, according to its 2015 annual report.

In February 2015, the junket investor signed an arrangement with Crown Perth to promote approximately 8 to 10 gaming tables at the Crown Perth Casino.

In May, the group also entered into a junket arrangement with Nagaworld, to promote 7 gaming tables within the Cambodia-based casino.

Towards the end of the year, Jimei also signed a junket agreement with The Star, “to promote not less than six gaming tables” within The Star Casino, located in Sydney, further cementing their reach within Australia.

“In the long run, it is the Group’s intention to diversify its business activities,” said Jimei International chairman Dr. Lam Yin Lok.

Last month, the junket investor announced it had entered into a framework agreement with two firms in relation to a possible entertainment resort project in Cambodia.

The property will include a hotel, golf course, theme park and other entertainment and tourism attractions in Cambodia, according to a filing from Jimei to the Hong Kong Stock Exchange.

The potential formation of the JV Company is subject to further entering into formal agreements, which is currently still under discussion.

For the year ended Dec. 31, 2015. The group reported revenue at HK$194.9 million, and gross loss was HK$1.3 million, compared to a gross profit of HK$1.4 million in 2014.

“The Group shall continue to explore the possibility of further extending its business into the gaming and entertainment market to further broaden its income sources,” said the company in its filing.

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