Rich Goldman ceases contract with junket operator

Rich Goldman has parted was with junket operator Hoi Long.

Macau.- Junket group promoter Rich Goldman Holdings has announced that it has ended a contract with its last junket partner, Hoi Long Sociedade Unipessoal Limitada, which operates eight VIP tables at the Grand Lisboa casino.

The company revealed that it was notified by Hoi Long that in light of the challenging economic conditions caused by the Coronavirus outbreak it has decided not to seek an extension of its collaboration contract with SJM Holdings.

Hoi Long operates a junket business across 8 VIP tables in the Grand Lisboa casino, with is operated by SJM Holdings, with the agreement set to expire in April 2020. 

“The Group will focus its resources on other principal businesses in the meantime, particularly its money lending business, so as to maximise the return for the Shareholders. […] It is the Group’s intention to keep developing the money lending business as well as the hotel operations business,” Richard Goldman Holdings Chairman Andy Lin Chuen Chow said in a statement.