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Macau floating casino developer never signed final contract with operator: report

Afterwards, they said they would provide the final contract but it never materialized,” Andric told Macau News Agency. Dragon Corp CEO Chakrit Ahmad told Reuters in Decmeber that the company had partnered with four junket operators who had committed US$265 million of the money raised in its ICO via private sale. He also explained that the company’s business model revolved around the use of blockchain technology in order to reduce costs associated with standard credit processes associated with Macau’s junkets. According to Dragon Corp’s plan, clients at The Dragon Pearl Casino Hotel would gamble using Dragon Coin. “We provide a better, more convenient and more cost-effective solution for them,” Ahmad said at the time. “If they want to exchange their winnings into flat currency and then carry it themselves, they are free to do so. But the likelihood is they will revert back to digital currencies.” Korean state-owned casino operators tumble in annual government performance assessment Korean casino operator Grand Korea Leisure (GKL) has received the lowest possible E grade in the government’s annual evaluation of management performance among public institutions.GKL was one of two companies to receive the low mark alongside Korea Coal Corporation, with the evaluation focusing ... Thursday, 21 June 2018 06:47 Macau floating casino developer never signed final contract with operator: report The company flagged to help develop and build Macau’s first floating hotel and casino – The Dragon Pearl Casino Hotel – has revealed that it never managed to sign a final contract for the ambitious project with operator Dragon Corp.As revealed by Macau News Agency this week, Norway’s Brova... Thursday, 21 June 2018 06:18 Macau’s Emperor Entertainment confident in prospects despite 8.1% gaming decline Macau casino operator Emperor Entertainment Hotel Limited, which runs the Grand Emperor Hotel and Inn Hotel Macau, has declared its future prospects bright despite a 7.1% decline in revenue for the year ended 31 March 2018, including an 8.1% fall in revenue from gaming operations.Emperor Entertain... Thursday, 21 June 2018 05:23 Japan extends Diet session to pass long-awaited IR bill Japan’s lower house has voted to extend the current Diet session until 22 July in order to pass key legislation, including the long-awaited IR Implementation Bill.The IR bill passed through the lower house on Tuesday but was in danger of stalling again with the standard 150-day Diet session orig...

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