Neptune Group Ltd. has confirmed that one of its junket operators has lost its right to run a VIP gaming room at Sands China Ltd.’s Sands Macao. No reason was given for the termination of the contract, which started December 30, 2016 and will officially end August 30.
In a filing to the Hong Kong Stock Exchange, Neptune reported that it was informed by Hou Wan Entertainment Co. Ltd. of the termination. In the filing last week, Neptune reported that for the year ending June 30, 2016, Hou Wan contributed approximately HKD72.5 million (US$9.3 million) to its business, about 26 percent of Neptune’s total revenue. “The company is currently assessing the impact of the termination notice on the group,” the document added.
