Jimei secures junket deals in Australia and Cambodia

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.

More news from this jurisdiction

Australia, CambodiaTuesday, Mar 15, 2016

A $200,000 (US$150,300) payment, which was allegedly made as part of a previous attempt to secure a lucrative online gaming licence in Cambodia is being examined by Australian and overseas anti-bribery agencies, according to a report from the Sydney Morning Herald.

Cambodia, AustraliaThursday, Feb 25, 2016

Australian-listed Donaco International Ltd announced its previously agreed exclusive deal with gaming promoter Heng Sheng Group has been terminated, with operations suspended from January 2016.

Australia, CambodiaFriday, Jul 03, 2015

Donaco International Ltd announced that the company’s deputy chief financial officer, Chong Kwong Yang, has been appointed to the senior position of chief financial officer.

AustraliaWednesday, Feb 21, 2018

Australia’s Gaming Technologies Association called on anti-gambling crusader Nick Xenophon’s SA-Best party to withdraw its gaming policy due to two claims that were recently dismissed by a Federal Court.

CambodiaWednesday, Feb 21, 2018

Local Cambodians in Sihanoukville are staging a backlash against the flood of Chinese visitors, who have been drawn to the seaside town by the rising number of casinos, the Financial Times reports.

AustraliaMonday, Feb 19, 2018

Nick Xenophon, an Australian politician and anti-gambling crusader, has modified his previously hardline approach to the pokies industry, backing away from earlier pledges to push for an all out ban in South Australia.

AustraliaThursday, Feb 08, 2018

Australian gambling operator Tabcorp Holdings on Thursday said its statutory net profit fell more than 50 percent in the first half of the 2018 financial year.