• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Landmark Macau suitor pledges boost to casino operation

Nov 13, 2017 Newsdesk Latest News, Macau, Top of the deck  


Landmark Macau suitor pledges boost to casino operation

The prospective new owner of the Landmark Macau casino hotel in that city has told GGRAsia in an interview that he aims to “enhance the gaming services” at the property.

Gaming revenue at the Pharaoh’s Palace casino inside the venue fell 22.6 percent year-on-year in the first six months of 2017, according to the interim report of Macau Legend Development Ltd, the prospective seller of the casino hotel.

The putative purchaser – Macau property investor Chong Sio Kin, also an existing junket partner to Macau casino services firm Macau Legend – told GGRAsia: “Our aim is to enhance the gaming business at the Landmark Macau… but now we are yet to form a concrete plan as to the positioning and improving the gaming services at the property.”

The business arrangements for the gaming operation at Landmark Macau involve a series of complex and interwoven deals that are not untypical of arrangements in so-called “satellite” properties in the Macau market – i.e., venues that are controlled by parties other than one of the six Macau casino licensees, but piggyback on a licensee’s gaming permit.

Mr Chong’s firm Dong Lap Hong Property Investment Co Ltd is due to take a majority 58 percent stake in the Landmark Macau according to a Friday filing in Hong Kong from Macau Legend.

The listed firm had said its chief executive David Chow Kam Fai and one of the group’s wholly-owned units were selling 100 percent of the equity in the Landmark Macau for a consideration of HKD4.6 billion (US$589.7 million).

The deal must be approved by the local casino regulator, the Gaming Inspection and Coordination Bureau, also known by its Portuguese-language acronym DICJ; and SJM Holdings Ltd, the Macau casino operator that holds the actual gaming permit used by the property.

Mr Chong further noted to us that the other three suitor firms in the disposal are controlled respectively by his children and members of an organisation called the “Association of Real Estate Sector of Macao”.

Mr Chong currently is an investor in a junket operation branded as “Neptune Palace” at the Landmark Macau. He started that VIP gaming business at the property in 2004.

Friday’s filing from Macau Legend regarding the disposal noted that under a so-called “participation agreement”, wholly-owned Macau Legend unit Hong Hock Development Co Ltd would provide gaming services at Landmark Macau “for as long as SJM Holdings maintains its status as a gaming concessionaire in Macau”. SJM Holdings’ current Macau gaming concession is due to expire in 2020.

“Hong Hock is still the entity that holds the management rights in terms of gaming operation at the Landmark Macau, where our role in that regard is pretty much an investor and collaborator that helps in the marketing side and introducing gaming patrons,” Mr Chong told GGRAsia.

Macau Legend’s interim report said that as of June 30, the Pharaoh’s Palace casino inside Macau Landmark had 60 mass-market gaming tables, 17 VIP tables and 141 slot machines. The VIP gaming club “Neptune Palace” currently hosts 10 gaming tables at the Landmark Macau, said Mr Chong.


  • tweet
Related articles
  • Macau Legend to run satellite casino ops under SJM
    Macau Legend to run satellite casino...

    Jan 09, 2023  

  • Alvin Chau good boss, trusted in gaming sector: witness
    Alvin Chau good boss, trusted in gaming...

    Nov 16, 2022  

More news
  • Nagasaki says Credit Suisse woes not to impact IR plan
    Nagasaki says Credit Suisse woes not to...

    Mar 20, 2023  

  • Macau GGR for March 1 to 19 at US$845mln: JP Morgan
    Macau GGR for March 1 to 19 at...

    Mar 20, 2023  


Latest News

Nagasaki says Credit Suisse woes not to impact IR plan

Nagasaki says Credit Suisse woes not to impact IR plan

Mar 20, 2023  

Credit Suisse Group AG, described last year by Nagasaki governor Kengo Oishi as one of several potential “financial arrangers” for a proposed casino resort project within that Japanese prefecture...
Read More
Macau GGR for March 1 to 19 at US$845mln: JP Morgan

Macau GGR for March 1 to 19 at US$845mln: JP Morgan

Mar 20, 2023  

Let’s Win hosts grand opening for club at Hoiana in Vietnam

Let’s Win hosts grand opening for club at Hoiana in...

Mar 20, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


1.59 million

Total number of visitor arrivals to Macau in February



Most Popular

  • Universal Ent seeks to end SPAC deal for Okada Manila listingUniversal Ent seeks to end SPAC deal for Okada Manila… March 20, 2023
  • Let’s Win hosts grand opening for club at Hoiana in VietnamLet’s Win hosts grand opening for club at Hoiana in… March 20, 2023
  • Macau GGR for March 1 to 19 at US$845mln: JP MorganMacau GGR for March 1 to 19 at US$845mln: JP Morgan March 20, 2023
  • Macau visitor tally up 14pct m-o-m in FebruaryMacau visitor tally up 14pct m-o-m in February March 17, 2023
  • LET Group flags 2022 loss of US$52mln, Hoiana repays loanLET Group flags 2022 loss of US$52mln, Hoiana repays loan March 20, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us