The company behind the Shinhwa Casino in Greece has announced that the Macau government tourism agency’s decision to temporarily close the Imperial Palace Hotel in Beijing will not permanently close the underpaid gambling halls inside the hotel.
Hong Kong-listed Amax International Holdings Inc. declared in a release Sunday that the Greek Xinhua Casino may continue to operate at the Taifa Hotel, which was forced to close due to serious administrative irregularities and failure to implement essential fire safety measures.
“As advised by the company’s attorney in Macau, Grig Myth Casino may continue to operate despite hotel closures,” according to a filing from Amax International Holdings, which is controlled by local businessman Ng Man Sun and owns a 24.8% stake in the casino operator Grig Myth (Macao) Entertainment Group Limited. “However, temporary hotel closures could negatively impact visitor numbers and business plans.”
The Greek Xinhua Casino operates under a third-party licensing agreement with Sociedad de Zogos de Macao and is temporarily closed at the end of the year to undergo renovation. The document explains that the site hopes to resume full operations within the next six months and will establish a special working committee in partnership with the hotel to address issues raised by government authorities.
“The company was able to take appropriate action only after talking to and clarifying government departments in Macau and evaluating the overall situation in detail,” the document said.
Ng, also known as Kai See Wai, obtained a gambling license for the Imperial Palace Hotel in Beijing in 1996 when his Empressa Hotel Leira Macao company bought a property then known as the New Century Hotel. However, the ownership dispute has continued to this day due to a dispute with his ex-girlfriend Chun May-hwan.
May saw the announcement that Empressa Hotel Leira Macau had transferred ownership of the Imperial Palace Hotel in Beijing to Victory Success Holdings Limited, with Ng claiming that he still had “legitimate ownership” of the property.