Company also tables Cambodian resort project
Jimei International Entertainment Group Ltd., a Hong Kong-listed junket investor, has announced the end of a partnership with NagaCorp Ltd. Jimei had planned to promote no less than seven gaming tables at NagaWorld casino in the Cambodian capital of Phnom Penh, reported GGRAsia.
The partnership originated in May 2015 and ended January 31 “as a result of the non-renewal of relevant contractual documents,” Jimei International said in its full-year results, filed last week. In the same report, Jimei said it has terminated agreements with two firms to develop an “entertainment resort” project in Cambodia.
The latter deal, first disclosed in March 2016, included hotel facilities, a golf course, a theme park and “other entertainment and tourism business,” Jimei International said at the time. A casino was not part of details released to the public.
Jimei reported a loss of HKD39.8 million (US$5.1 million) for full-year 2016, compared to a profit of about HKD8.7 million in 2015. The firm attributed the loss to an impairment loss on trade and other receivables of HK$100.8 million incurred in 2016. The company generated revenue of HKD193.1 million from its entertainment and gaming business, up 8 percent year-on-year.
