Junket promoter Rich Goldman is seeking a new junket operator to collaborate with, after losing its last remaining junket partner at the Grand Lisboa.
On Monday, Rich Goldman said it was informed that its junket partner, Hoi Long, will not be seeking an extension of its collaboration contract with the Grand Lisboa, due to “challenging economic conditions and the recent outbreak of Coronavirus.”
Hoi Long operates a junket business in relation to a total of 8 VIP tables in the Grand Lisboa casino, with the agreement set to expire in April 2020.
Rich Goldman said it will use all reasonable endeavors to identify new junket operators for its gaming business.
If the Group is unable to identify new junket operators, the Group will cease to have an income stream from its gaming business, it said.
The company said it will focus on other principal businesses in the meantime, particularly its money lending business, so as to maximize the return for the Shareholders.