Rich Goldman has parted was with junket operator Hoi Long.<\/p>\n\n\n\n\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.\u00a0<\/p>\n\n\n\n
“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. [\u2026] It is the Group\u2019s 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rich Goldman has parted was with junket operator Hoi Long.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Rich Goldman Holdings has terminated its contract with junket operator Hoi Long, which managed VIP tables at Grand Lisboa, citing challenging economic conditions exacerbated by the Coronavirus outbreak. This strategic pivot sees Rich Goldman exiting the junket business to reallocate resources towards its money lending and hotel operations, aiming to maximize shareholder returns.","focusai_entities":"Rich Goldman Holdings, Hoi Long Sociedade Unipessoal Limitada, SJM Holdings, Andy Lin Chuen Chow","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), payments_fraud_aml (0.7), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau VIP Market Impact","query":"What is the projected impact of Rich Goldman's exit on the overall GGR of the Macau VIP segment, and how might this influence other junket operators' strategic decisions?"},{"label":"Rich Goldman Strategy Shift","query":"How will Rich Goldman Holdings' pivot to money lending and hotel operations alter its financial risk profile and long-term shareholder value proposition compared to its previous junket business model?"}],"footnotes":""},"categories":[160,157,16338],"tags":[7299,257],"class_list":["post-4062","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-business-news","category-east-asia-news","tag-coronavirus","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=4062"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4062\/revisions"}],"predecessor-version":[{"id":4070,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4062\/revisions\/4070"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=4062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=4062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=4062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}