The Norwegian company that was in a supposed partnership with Dragon Corp to develop a floating casino in Macau says it never signed a final contract for the project and had terminated its association with the project in November 2017, Macau Business reports.
Last year, Brova Idea AS, which specializes in the development of floatable structures, told Business Daily that it had been contacted to developer a floating casino named The Dragon Pearl Casino Hotel.
The casino was expected to be set up in April 2020 at an estimated cost of $300 million. At the time, Dragon Corp CEO Chakrit Ahmad said it would finance the development of the casino through a $500 million initial coin offering (ICO).
The legitimacy of the company was questioned shortly after, when the Macau government said it was unaware of the company or its relation to the local gaming market.
According to Brova Idea’s chairman Milo Andric, after negotiations with Drago Corp’s founders Paul Moynan and Mr Ahmad in August 2017, the contract fell through and Andric put an end to any dealings for the project in November.