Paradise Ent to start Macau operations this year
The company is hoping that operations at the Lan Kwai Fong casino hotel in downtown Macau will start by the end of this year.
Macau.- Paradise Entertainment Ltd revealed that the company expects to operate the downtown Macau casino by the end of 2017. Jay Chun, chairman and managing director of the company confirmed the news to GGRAsia.
Lan Kwai Fong is expected to make gaming for mass market consumers instead of VIP players, the official said. “For sure we are not using the listed vehicle [Paradise Entertainment] to finance it [the acquisition of Lan Kwai Fong]. That means we are not using means like placing [Paradise Entertainment] shares to finance the deal,” said Chun. Paradise revealed on June that it offered US$304 million to acquire the facility that is in possession of China Star Entertainment Ltd.
The hotel features 209 rooms, whilst the casino offers 70 slot machines and 84 gaming tables. “On top of that portfolio of gaming elements, we’ll also be adding more live multi-game terminals to Lan Kwai Fong,” told Chun to the news outlet.
“Traditionally, for this type of casino [satellite casino], it cost a lot for the set up of slot machines and other electronic gaming machines. But for us, it’s quite cost-effective because we already have the ready software and technology to install those at the casino. It’s true that we don’t have experience in hospitality. But I believe that it won’t be a difficult segment for us to handle.”
