Hong Kong-listed junket investor Jimei International Entertainment Group Ltd is to change its name to Starlight Culture Entertainment Group Ltd, the company said in a filing. The name change has been approved by shareholders at a special meeting on Friday, the firm added.
The filing did not disclose when the name change would take effect.
Jimei International had said in a filing in early June that the change in name would “better reflect the recent change of control of the company and provide the company with a new corporate image and identity”.
The firm added: “In light of the further business diversification and enhancement of the entertainment business of the group, the board considers that the new name … can more accurately reflect the corporate nature of the group.”
Jimei International was a business controlled by Macau junket veteran Jack Lam Yin Lok. But Mr Lam in April sold a 65.05-percent stake that he held in Jimei International. In late May, Mr Lam – who also has privately-held interests in Macau junket operations – stepped down as chairman of Jimei International and is no longer an executive director of the company.
The company has meanwhile appointed new directors as it plans to shift its overall strategy and focus on the film industry. Jimei International announced last month that an agreement to participate indirectly in VIP gambling promotion in Macau had been terminated.
As part of the new strategy, the firm said it has engaged two international film directors “in relation to the development and production of motion picture projects”. Jimei International said it engaged Felix Gary Gray – who directed movies as “Straight Outta Compton” and “The Italian Job” – and Roland Emmerich – who directed “Independence Day: Resurgence” and “The Day After Tomorrow”.
Feb 16, 2018Due to the Chinese New Year holiday, the GGRAsia team will be off between February 16 and 19. We will be back on February 20. We wish all our readers a prosperous Year of the Dog!
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”A challenge to Macau's economic model could potentially emerge over the longer term should China revise existing criminal laws that prohibit most forms of gambling in the mainland... Even in such a scenario, Fitch would expect this to occur gradually”
Fitch Ratings Inc