Casino games developer and supplier Paradise Entertainment Limited announced that its subsidiary, LT Macau Limited, has signed an agreement with Socideade De Jogos De Macau, S.A (SJM) to operate a casino venue at San Kin Yip Commercial Centre, which will quickly boost the group’s penetration of the Macau electronic gaming market.
In December last year, the group and SJM together opened the world’s first e-casino “Paradise Entertainment Casino” on the third floor of San Kin Yip Commercial Centre.
With the success of the business model, he casino has been expanded to occupy five floors in San Kin Yip and tighten cooperation between the group and SJM.
Located adjacent to the Lisboa Hotel & Casino and opposite to the Wynn Macau Resort, Paradise Entertainment Casino, currently in the final stages of renovation, has a gaming floor area of 172,820 square feet. It will feature 730 electronic table terminals and slot machines, and up to 80 traditional felt tables including Paradise Jackpot Progressive Baccarat, the world’s first progressive jackpot baccarat table game. It is scheduled to open on Friday.
According to the agreement, LT Macau will be entitled to 55 percent of the net win generated from the table games and 40 percent of the net win generated from the slot machines, while SJM will be responsible for paying the special gaming tax amounting to 40 percent of the total net win of the casino. LT Macau will pay or reimburse rental expenses, labour costs and other operating expenses paid or incurred by SJM.
We are excited to be working closer with SJM to present to customers the world’s largest e-casino,” said Mr Jay Chun, Chairman & Managing Director of Paradise Entertainment Limited.
“The new state-of-the-art Paradise Entertainment Casino will feature all time favourite games as well as latest gaming attractions that promise players excitement and entertainment like never before all year round non-stop. More importantly, this new development will strongly enhance the Group’s revenue stream and give it a stronger platform to boost market penetration of the Macau gaming market,” he added.