No word on gaming
Macau junket organizer Jimei International has announced plans to develop a resort in Sihanoukville, Cambodia. According to a report on CalvinAyre.com, the junket has a blueprint in the works for an “entertainment resort complex.”
Jimei’s partners in the project are Cambodian resort developer Yeejia Tourism Development Company Ltd. and MCC International Incorporation Ltd., a “large comprehensive construction general contract enterprise” in Mainland China, the website reported. Under the agreement, Yeejia will provide land-use rights on the proposed site, and Jimei will plan the resort and arrange the financing.
In a filing to the Hong Kong Stock Exchange, Jimei reported the resort will include a hotel, a golf course, a theme park and “other entertainment and tourism business.” There has been no word to date on gaming facilities.
In Cambodia, Jimei is already associated with NagaCorp. If its resort project goes forward, “the company’s contribution to Naga’s VIP story is likely measured as a single-digit percentage of rolling chip volume,” wrote Union Gaming analyst Grant Govertsen, adding that the plan poses “incremental” but minimal risk to Naga.
“We would not expect a casino resort in Sihanoukville to gain traction with respect to Naga’s core earnings driver, mass market gaming. Instead, and not surprisingly in the context of Jimei being a VIP operator, we would expect this property to be primarily reliant on inbound VIP customers,” Govertsen said.
