Southeast Asia casino operator Donaco International Ltd on Monday announced that the Heng Sheng VIP club (pictured) at the Star Vegas Resort and Club casino in Poipet, Cambodia, was “successfully launched” on Sunday.
Under the three-year deal between Donaco and Heng Sheng Group – also known as Hengsheng Group –, the Macau VIP promoter will bring high rollers from Asia to the new dedicated gaming area at Star Vegas.
“Today marks the beginning of our exciting new partnership with the Heng Sheng Group. I am pleased to witness the commencement of the next phase of growth for Donaco, and for the Star Vegas in particular,” Donaco’s managing director and chief executive, Joey Lim Keong Yew, said in Monday’s filing to the Australian Securities Exchange.
More than 400 high rollers attended Sunday’s launch of the Heng Sheng VIP club, Donaco said, adding that “30 new baccarat tables were in operation for the launch”.
Donaco said the deal would expand the customer base of the Star Vegas “beyond its current patronage by Thai customers”. Donaco completed the acquisition of Star Vegas on July 1 for a consideration of US$360 million.
The new VIP area at Star Vegas will have up to 50 baccarat tables, according to previous filings from the casino operator. Donaco will supply the dealers, while Heng Sheng will supply customer service workers, the release stated.
Heng Sheng Group was established in Macau in 2011. The firm operates VIP gaming rooms in Macau, Vietnam and the United Kingdom.
Under the agreement, the parties will share the profits from the new VIP club. “Heng Sheng will guarantee a certain minimum win rate, and be responsible for paying all junket commissions. In return, Heng Sheng will receive a larger share of the profit from the venture,” Donaco said when it announced the deal in August.
The deal between Donaco and the Macau junket operator could produce as much as US$29 million per year in additional gross gaming revenue at Star Vegas, Union Gaming Securities Asia Ltd said in a note last month.
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”We do not believe that reopening the advance notice nomination deadline [for board directors] is appropriate or justified”
Daniel Boone Wayson
Chairman of the Wynn Resorts board of directors