Pachinko Company's Dynamic Japan Holds Macau Legend Talks
Dynam Japan Holdings Co Ltd. will extend its deadline by another six months to finalize talks with Macau casino services company Macau Legend Development Ltd. about a possible cooperation in operating the game.
The Japanese company first agreed to a non-binding memorandum of understanding with Macau Legends, led by former Macau lawmaker David Chaukampai, on Aug. 23, 2013. It was extended by six months in February this year, and has now moved on to a new deadline of Feb. 23, 2015. 무료슬롯사이트
Dynam Japan, manager of the Pachinko Hall industry in Japan, has already invested around $85 million, including the first purchase of $35 million worth of shares since Macau Legends' global offering in Hong Kong in July last year.
In August last year, Dynamic Japan announced that it hopes to operate the Pachinko Hall on Macau Fisherman's Pier, the award-winning venue of Macau Legends, since 2014. It is currently under redevelopment on the Macau Peninsula.
In early June this year, Dynamic Japan said in a filing with the Hong Kong Stock Exchange that it was waiting for the Macau government to approve an application to operate in the city, which it calls the "next Pachinko machine."
Then, in early August, an analyst at Pisco, an investment advisory firm based in Tokyo, suggested that Dynamic Japan may try to become an investor in a local casino resort in Japan. The report added that Dynamic is unlikely to seek to be involved in one of two likely metropolitan licenses offered in Japan, even as a member of a consortium. With this initiative, foreign investors have cited the potential for capital costs of up to $10 billion for a single resort.
At the end of July, Dynamic Japan said its previous gross operating income for the fiscal quarter ended June 30 fell about 4.8% year-on-year to 38.2 billion yen ($375 million).
Macau Legends said in a Hong Kong filing on Wednesday that the structure of the first of three new hotels under construction on Macau Fisherman's Wharf will be "substantially completed" in the third quarter of 2014, with openings "tentatively scheduled" in the fourth quarter.
However, the property, the Harborview Hotel, will not house a casino. The property will be connected by a Skywalk bridge with the existing Babylon Casino in Macau Legends, a person who works for the company told GGRASIA in June on condition of anonymity.