ASIA & OCEANIA
Virtue Resources Corp. is building a US$200m casino resort called Empire World City in Bavet City in Cambodia close to Vietnam’s Moc Bai border crossing.
CAMBODIA CASINO OPERATIONS Virtue Confirms $200m Empire World City
AUSTRALIA – TCSJohnHuxley has signed an agreement to become the exclusive global distributor for a range of new table games designed by Club Gaming, a wholly owned subsidiary of Crown Resorts. Initially covering five games, the agreement commences immediately and allows TCS John Huxley to market the games worldwide to its global customer base.
Crown Resorts is renowned for its innovation, in addition to providing an exceptional customer experience.
Rebecca Kingswell, TCSJohnHuxley Managing Director APAC said: “New table games have always been difficult to promote and sell, but we believe we have the perfect fit here with an experienced operator who has tested the games on the floor and has them in operation in their own properties. Crown are a global company that understands different markets and requirements around the world - this insight is extremely important when offering products to a wider audience.”
The first game being released by Crown is Nutz, a simple and easy to play dice game where players aim to roll Five of a Kind. Currently running across three tables in the Crown Melbourne property, this fun and easy to play game allows players to be part of the action by shaking the dice. This player interaction has been a big hit in the casino and should prove as popular when it’s rolled out globally.
Tim Barnett (General Manager Tables Strategy & Commercial) and Joseph Crepaldi (Crown’s Chief Revenue Officer), both experienced casino professionals have been instrumental in developing the suite of games and will be working with TCS John Huxley to bring them to market.
NEPAL – Silver Heritage Group has said it will need to spend an extra US$14.8m to complete the construction of Tiger Palace Resort Bhairahawa in Nepal. This will take the final cost of the project to US$54.5m up from $39.8m.
The company said: “Construction of Tiger Palace Resort Bhairahawa has made good progress. Infrastructure is 90 per cent complete, hospitality is 80 per cent complete and casino and public areas are 60 per cent complete. However there is a delay to opening and an overrun on budget. A new project management team has been appointed and new project management measures have been implemented. The company requires US$14.8m of new capital to open Tiger Palace. The opening will be in stages from August 2017 with the Hotel to the Resort & Casino Grand Opening in November 2017. The company is finalising the structure by which it will raise capital.”
P32 NEWSWIRE / INTERACTIVE /
247.COM
Saipan Imperial Pacific Resort to host 44 baccarat tables
Whilst Imperial Pacific’s permanent casino on the Pacific island of Saipan in the Northern Mariana Islands is still yet to open, executives from the company have confirmed how large Imperial Pacific Resort, as it will now be named, will be.
Marketing Director David Largent stated that the new casino will have more than 300 gaming tables including 48 baccarat tables, and over 350 slot machines, housed on a main gaming floor and two VIP rooms, both with four tables. Access to the VIP rooms will be restricted to customers who have joined the Imperial VIP Club. A date for the delayed opening of the permanent casino is set to be announced soon. In March unaudited VIP gambling rolling chip volume at its temporary casino, Best Sunshine Live, increased by 57 per cent.
Ratings agency Moody’s Investors Service said last week that Imperial Pacific was at ‘very high’ risk of defaulting on its debts and questioned the substantiality of its business model ‘given its high levels of accounts receivables.’ Kaven Tsang, Moody’s Vice President, said: “Te downgrade of Imperial Pacific’s corporate family rating reflects our concern over the company’s trend of weak operating cash flow. downgrade also reflects our consideration that the high collection risk on the company’s accounts receivables will unlikely improve further over the next 12 to 18 months.”
Construction of Virtue Resources Corporation\’s Empire World City is expected to begin by the end of 2017, with the first phase aiming to be completed by the end of 2019. Te US$200m casino is to be located close to Vietnam’s Moc Bai border crossing and will include a shopping mall and a Water Show Arena and will create 3,000 jobs as part of the construction and operations process. Te resort will be designed by 3Ti Progetti Asia, the Asian subsidiary of Rome-based civil engineering firm, 3Ti Progetti. A ground breaking ceremony for the project was held on April 14.
During the groundbreaking ceremony, the CEO of Empire World, told those gathered to watch the event: “We are going to kick start this project by starting the leverage work and we estimate by the end of this year we can start the construction phase.”
Te Group CEO of Virtue Resources Corporation, added: “Te total time for the development and completion of Empire World City will be 10
years. We are building this mega project because we saw the potential of economic growth in Cambodia over the forthcoming decade. We believe that the Empire World City will boost the local economy by attracting neighbouring Vietnamese into the city.”
Virtue Resources is working with Carton Hotel on the project. Te CEO of Carton Hotel, said: “I am glad that Virtue Resources has given us an opportunity to enter Cambodia as the first container style hotel and resort. We are very confident that our presence in Empire World City will add more value to the project.”
Te town of Bavet, located in one of Cambodia’s poorest provinces, borders with Vietnam, and has become one of the liveliest cities in the country. Tere are total of 11 large and small casino entertainment venues, and many more are in the midst of construction. Cambodian Prime Minister Hun Sen has already expressed his intent to develop Bavet into what he describes as Cambodia’s Las Vegas.
Saipan
Te Federal Bureau of Investigation has confirmed that it did visit Imperial Pacific International Holdings’ casino on the remote US island of Saipan and that it has arrested one person in connection with the death of a construction worker. Michele Ernst, an FBI spokeswoman, said: “Te FBI conducted a search and made an arrest in response to the recent death of an individual working at the construction site of the Imperial Pacific Resort. Te investigation is related to allegations of a federal violation of the workplace visa system, including reports the company was systematically harboring individuals who are out of status and in violation of federal statutes.”
Imperial Pacific said: “Having made all reasonable inquiries, the board of directors of the Company hereby clarifies and declares that the investigation into the relevant construction accident of Saipan external construction team conducted by US Federal Bureau of Investigation, is not related to the Group and its employees.”
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