Macau’s Golden Dragon Group extends satellite casino agreement with Melco
Melco Resorts and Entertainment and Golden Dragon Group have reached an agreement to extend their agreement until December 31.
Macau.- After extending the licence agreement for three satellite casinos with SJM Holdings, Golden Dragon Group also now also extended its licence with Melco Resorts and Entertainment. The Grand Dragon, a casino hotel in the Taipa district of Macau, controlled by Golden Dragon and operated by Melco, will now remain open until December 31.
Golden Dragon’s casinos together hold 200 gaming tables, accounting for around 21 per cent of the 930 tables at Macau’s satellite casinos.
The new gaming law approved by the Legislative Assembly requires casinos to be run on assets owned by the gaming operators. However, authorities extended the original three-year grace period to allow satellite casinos time to resolve ownership issues.
Only two of Macau’s satellite casinos have ended their operations for now: Rio Casino and President Casino, two satellite casinos run by Galaxy Entertainment Group. Galaxy Entertainment Group said in a statement that the workers of both casinos will be transferred to other units of the concessionaire with the same employment conditions.
