Imperial Palace Hotel changes hands

Empresa Hoteleira de Macau Lda, operator of the Beijing Imperial Palace Hotel (formerly known as Greek Mythology) has announced it has transferred ownership of the hotel to Victory Success Holdings Limited, Macau Daily reports.

Victory Success has become the new owner of the Taipa property since October 22, 2015, said Empresa Hoteleira de Macau Lda in an announcement on Thursday, and added the transfer of the property is in the form of a settlement in lieu of debt.

The casino has been running under the gaming licence of SJM Holdings.

In January, SJM chief executive Ambrose So announced the closure of the casino hotel due to renovation works.

The SJM executive said the casino’s closure is only temporary and is expected to reopen, but did not provide a date.

“The hotel and the casino premises are a little bit worn out, so they would like to do a renovation before they resume operations… I think they would like to open as soon as possible, because they would like, of course, to try to proceed and make some money,” So told TDM, a public radio broadcaster in Macau.

According to TDM, the casino staff at the time had been transferred to other SJM properties.