At least seven gaming tables for Jimei in NagaWorld’s Cambodian casino

Jimei International Group will operate “no less” than seven VIP gaming tables in NagaWorld, Phnom Penh’s sole integrated hotel-casino entertainment complex. The move expands Jimei’s businesses to Cambodia following other agreements in Macau and Australia this year.
The company, chaired by famous local junket operator Jack Lam, responsible for Jimei Casino and nine VIP rooms here, announced the agreement with NagaCorp – owner of NagaWorld resort – through a filing with the Hong Kong Stock Exchange reading: ‘It is the Group’s current intention to promote approximately no less than 7 gaming tables in operation under the NagaWorld Junket Arrangement which may be changed over time’.
The filing noted that Jimei would be responsible for several services to its clients in NagaWorld Casino Cambodia including but not limited to accommodation, transportation, food and beverage. The partnership has the duration of one year, automatically renewed for another one year on the same terms and conditions unless either party gives written notice of non-renewal to the other party not less than one month in advance prior to the expiration of the initial term.
NagaCorp is the largest hotel, gaming and leisure operator in Cambodia, and the company has been listed in Hong Kong since 2006. Its casino licence in the country will run until 2065, in addition to a 41-year monopoly within a 200km radius of Phnom Penh that expires in 2035.
With this agreement, Jimei continues to expand to other markets after already announcing this year that it is expanding its junket business in Macau and Australia.
Here, Jimei signed an agreement with New International Club to ‘indirectly participate in the gaming promotion business in Macau’. The latter is in negotiations with Wynn Macau to manage some VIP rooms and expects to get ‘no less’ than 30 gaming tables in these Wynn rooms and earn ‘not less’ than 40 per cent of the revenues from the gaming tables.
Currently, Jimei runs Jimei Casino in Macau and nine high-roller rooms in several casinos here such as Wynn (three rooms), City of Dreams, Altira and Sands (three).
Jimei International has also announced a junket agreement with Australian casino mogul James Packer, CEO of Crown Resorts and partner here with Lawrence Ho in Melco Crown Entertainment who manages City of Dreams and the upcoming Studio City. Jimei will be responsible ‘for administration and management of its junket patrons playing at the Crown Perth Casino and provide the necessary services to them. The casino is located in Perth, Western Australia and opened in 1985.
Outside Macau, Jimei runs operations in Hong Kong (wealth management) and in the Philippines where it has the Fontana Hot Springs Leisure Parks, Fort Ilocandia Resort Hotel and Solaire Resort and Casino, according to the company’s information.
L.G.