GGRAsia – Jack Lam firm reveals Crown Perth junket arrangement

Jack Lam firm reveals Crown Perth junket arrangement

Feb 03, 2015 Newsdesk Latest News, Macau, Top of the deck, World

Jimei International Entertainment Group Ltd – chaired by one of Macau’s most experienced casino junket executives – says it has entered into an “arrangement” with Crown Perth for its “junket patrons or players to conduct gaming at the Crown Perth Casino”.

Crown Perth (pictured) is a casino property in Perth, Western Australia, operated by Australia’s Crown Resorts Ltd, chaired by James Packer.

Jimei International Entertainment said it plans “to promote approximately 8 to 10 gaming tables” under the arrangement with Crown Perth, “which may be changed over time”. It also said it will have to meet annual “gaming activity targets”, which were not disclosed in the filing.

According to Tuesday’s filing, Crown Perth will be responsible for the relevant casino tax payable under Australian laws.

Hong Kong-listed Jimei International Entertainment – which in a filing on January 16 said it had been given approval to change its name from Sinogreen Energy International Group Ltd – has been controlled by Jack Lam Yin Lok and supporting interests since last autumn, according to previous Sinogreen filings.

According to local media reports Mr Lam founded Jimei Group, a longstanding participant in the Macau VIP gaming promotion sector.

Sinogreen Energy – a firm previously described as trading in silicon rubber keypads – was already listed on the Hong Kong Stock Exchange when it was taken over by Mr Lam and his interests.

According to the Jimei Group website, Jimei Group runs junket operations at eight Macau casino hotels, including at Grand Lisboa, a property developed and operated by Macau casino operator SJM Holdings Ltd, founded by Stanley Ho Hung Sun.

In November it was revealed that the Australian state of New South Wales had barred “any new business activities or transactions of a material nature between Stanley Huang Sun Ho or a Stanley Ho associate and Crown, any of Crown’s officers, directors or employees or any Crown subsidiary” as a condition of Crown Resorts being granted a casino licence in Sydney.