Jimei cancels VIP gaming promotion agreement

Hong Kong-listed Jimei International Entertainment Group Limited has walked away from a deal with a VIP gambling promoter in Macau, according to a company filing to the Hong Kong Stock Exchange.

While Jimei did not mention the promoter, it is understood that the operator was identified as New International Club Ltd, who had been negotiating a deal to operate 30 VIP tables at Wynn Macau.

While the deal had been more than two years in the making, Jimei said no agreement on the terms of cooperation had been reached, and it is considered that “no agreement could be reached with the concessionaire upon such prolonged period of negotiation.”

Jimei said the termination of the agreement will not have any material adverse impact on the business, operation and financial position of the Group.