Hong Kong-listed gaming investor Amax International Holdings has finally named the Cambodian gaming venue that houses the VIP room that the erstwhile casino junket company will operate.
In a filing, Amax announced that its wholly owned subsidiary Victor Mind Global Ltd. has signed a three-year license agreement with Crown Resorts Co. Ltd. for the exploration of a VIP room in the Southeast Asian country.
Under the deal, Crown Resorts has agreed to rent the Target VIP room in the Genting Crown Casino in Poipet starting Dec. 1.
Amax will outsource the operation of the VIP room’s 13 VIP baccarat gaming tables to an undisclosed third-party junket operator, which the company described as “one of the top junkets” at its now-defunct Greek Mythology Casino. The junket operator also runs VIP rooms at Sands in Singapore and Imperial Pacific Resort Hotel in Saipan, according to the filing.
“Throughout his tenure with the [Greek Mythology] casino, the operator has successfully migrated certain existing long-term relationship PRC high rollers to Cambodia and at the same time, built up his own junket network in Cambodia, Thailand and Vietnam,” Amax said in its filing.
Established in 1999, Genting Crown Casinos is one of the first licensed casinos in Cambodia. The property, located on the Cambodia-Thailand border, is an integrated hotel-casino entertainment complex with public floor gaming tables and slot machines, VIP gaming tables, as well as hotel, catering and entertainment businesses.
“Due to the excellent geographical location and given the fact that gambling is prohibited in Thailand, Thai nationals have long been the one of the major customers of the casino. Recently, with the economic growth of Cambodia driven by the close business relationship between Cambodia and China, China visitors has become the new growth driver of the VIP room business of the casino,” Amax said.