• 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

Operator-junket boundaries further blurred in Macau

Jun 24, 2014 Newsdesk Latest News, Macau, Top of the deck  


Operator-junket boundaries further blurred in Macau

A recent trend in Macau – whereby companies with interests in so-called ‘satellite casinos’ operating on a licence from one of the main concessionaires are also taking equity interests in VIP gaming operators – is continuing.

China Star Entertainment Ltd, which controls Casino Lan Kwai Fong in downtown Macau that operates under a licence from SJM Holdings Ltd, said in a filing to the Hong Kong Stock Exchange on Monday that there was further delay in its move to buy an equity interest in the profit stream from a junket operator called Eight Elements Entertainment Ltd. Eight Elements is a junket operator at Casino Lan Kwai Fong according to an earlier China Star filing.

The sole shareholder of Eight Elements and its parent business, Protective Capital Group Ltd, a British Virgin Islands company, is Kelvin Kam Lap Sing, according to a February 25 filing originally outlining the deal.

China Star has agreed to pay HK$800 million (US$103.2 million) to Mr Kam in three installments for the rights to the profit from the Eight Elements junket operation. The consideration is calculated at 10.69 times the net profit of Eight Elements for the year ended December 31, 2013. The first HK$300 million is in the form of a refundable deposit, with a further HK$300 million payable upon completion, and the balance of HK$200 million in the form of a promissory note to the vendor.

China Star Entertainment – previously a producer of Cantonese-language films – is chaired by Charles Heung Wah Keung.

Facilities at Casino Lan Kwai Fong include an 18th floor suite with eight VIP rooms according to the property’s website.

Late last year, another SJM affiliated business – casino services firm Macau Legend Development Ltd, co-chaired by former Macau legislator David Chow Kam Fai – restated in a filing its ambition to be both a casino operator and to participate in VIP gambling promotion – albeit on an “indirect” basis.

In April Macau Legend told the Hong Kong Stock Exchange that – subject to regulatory approval – its wholly-owned subsidiary, Hong Hock Development Co Ltd, had formed a variable-interest-entity agreement with a gaming promoter operating a VIP club on one of its premises, Pharaoh’s Palace Casino.


  • tweet
Related articles
  • Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPM
    Macau CNY mass GGR maybe 60pct plus of...

    Jan 31, 2023  

  • Chau ruling marks end of old junket system: observers
    Chau ruling marks end of old junket...

    Jan 18, 2023  

More news
  • Macau ops track earlier recovery after Jan GGR: analyst
    Macau ops track earlier recovery after...

    Feb 01, 2023  

  • Prominent locals speak in court for Tak Chun boss Levo Chan
    Prominent locals speak in court for Tak...

    Feb 01, 2023  


Latest News

Macau ops track earlier recovery after Jan GGR: analyst

Macau ops track earlier recovery after Jan GGR: analyst

Feb 01, 2023  

Most of Macau’s casino operators are likely to generate positive free cash flow in the first quarter, given the robust recovery level of mass-market gross gaming revenue (GGR) in January, relative...
Read More
Prominent locals speak in court for Tak Chun boss Levo Chan

Prominent locals speak in court for Tak Chun boss Levo Chan

Feb 01, 2023  

January travel lift, CNY sees Macau GGR up 233pct m-o-m

January travel lift, CNY sees Macau GGR up 233pct m-o-m

Feb 01, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Momentum is expected to grow as mainland China recently reopened its borders, and this presents a substantial growth potential for us as historically a large portion of our clientele came from China”

Porntat Amatavivadhana

Non-executive chairman of Donaco International



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • Almost half million visitors to Macau for 7 days of CNY holsAlmost half million visitors to Macau for 7 days of CNY hols January 30, 2023
  • Macau visitor momentum kept for post CNY weekendMacau visitor momentum kept for post CNY weekend January 30, 2023
  • Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPMMacau CNY mass GGR maybe 60pct plus of CNY 2019: JPM January 31, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us