“More appropriate corporate ID”
Macau junket operator Neptune Group Ltd. has announced that it will change its name to Rich Goldman Holdings Ltd. pending shareholder approval.
In a filing to the Hong Kong Stock Exchange, the company wrote that its board “is of the opinion that the current name of the company does not reflect the diversity of businesses conducted by the group. While the group is still engaged in its gaming business by receiving profit streams from junket operators, the group now focuses more on its money lending business and management and operation of hotel business.”
The board believes the new name “will provide the company with a more appropriate corporate identification and image that would better reflect or align with the business nature and future development of the group.”
According to GGRAsia, in a July announcement Neptune said only one of its Macau junket partners would remain in business after August. During the summer, two of its operators had their rights to operate VIP gaming tables pulled from two Sands China Ltd. resorts in Macau.
Neptune said it expects to post an impairment of intangible assets for the junket business of approximately HKD365.9 million (US$46.8 million).
