Amax denies SunCity takeover of Beijing Imperial Palace

Amax International Holdings has denied a report in a Chinese newspaper that Macau’s leading junket operator, SunCity International, has taken control of the Beijing Imperial Palace Hotel.

The hotel, which was formerly known as the New Century Hotel, is home to the shuttered Greek Mythology Casino.

The report said the SunCity Chairman Chau Cheok Wa was planning to re-apply for the hotel license and redevelop both the property and its casino.

“The company would like to clarify that the article is untrue,” Amax, which holds a stake of about 25 percent in the casino, said in release to the Hong Kong Stock Exchange.

The company said it had been informed by that the hotel management is still in charge. In addition, management obtained a court order from Juizo Civel do Tribunal Judicial de Base of Macau on 17 May 2018, which  judged that Chau’s Victory Success Holdings has invaded the property. It was give five days to vacate the premises.

“The company is of the view that the status of Greek Mythology remains unchanged as at the date of this announcement, and that the legal proceedings to apply to the Macau Court for the appointment of Mr. Ng Man Sun, the Chief Executive Officer and Chairman of the Company, as the administrator of Greek Mythology is still under progress,” it added.

Amax, which runs junket operations, has been locked in a lengthy legal dispute with Greek Mythology.

Union Gaming in a note on the newspaper article said The Imperial Palace has been in desperate need of refurbishment for years and prior to its closure was very focused on low-end tour group business. It has about 550 hotel rooms and operated 80 tables prior to closure.