Jimei International said one of its units will run a junket operation at NagaCorp’s NagaWorld casino in Cambodia for an initial period of one year.
The company said in a Hong Kong Stock Exchange filing that it currently plans to promote at least seven VIP tables, though that may change over time. The one-year contract will be extended automatically for another year, unless either party gives notice of non-renewal.
Jimei said the group agreed to be responsible to act in Cambodia on behalf of the gaming patrons or players at NagaWorld Casino in relation to various services, including but not limited to accommodation, transportation, food and beverage.
In return, NagaWorld agreed to in turn provide the group with certain benefits in connection with the services provided. The company didn’t give financial terms of the accord.
Jimei also said there are “typical” arrangements in place regarding the provision of credit by NagaWorld.