Covid-19 delays Rich Goldman’s Manila venture

Junket promoter Rich Goldman said the Covid-19 pandemic has delayed the closure of a joint venture agreement that would allow it to provide VIP customers to Bloomberry Resorts’ Solaire Resort & Casino in Manila.

The two parties to the accord agreed on Tuesday to extend the long-stop date on the deal to October 26. 

The joint venture partnership is between Rich Goldman’s wholly-owned subsidiary Prime Jade Enterprises Limited, and Great Happy Century Limited, a company wholly-owned by Mr. Tam Ka Wo, who operates the junket room. 

Under the agreement, the JV company will introduce customers to the live gaming tables in the VIP room, and in return, receive 1 percent of the rolling turnover generated by the live gaming tables. 

The JV company, named Ever Lucky Global Limited, will be held as 51 percent by Rich Goldman, and 49 percent by Great Happy. 

Rich Goldman has been actively exploring possibilities to expand its gaming business and identifying new junket operators for its gaming business and believes this JV partnership represents a strategic move for the Group to diversify its gaming business into the Philippines.