Macau VIP gaming promoter, Heng Sheng Group, and Donaco International’s three-year deal brings its VIP players to the new dedicated gaming area at the casino and hotel that borders Thailand, according to the agreement signed by both parties.
Joey Lim Keong Yew, chief executive and managing director for Donaco said, “Today marks the beginning of our exciting new partnership with the Heng Sheng Group. I am pleased to witness the commencement of the next phase of growth for Donaco, and for the Star Vegas in particular,” regarding the filing on Monday with the Australian Securities Exchange (.pdf). The operator of leisure and entertainment businesses across the Asia Pacific region added that, “30 new baccarat tables were in operation” and more than 400 high rollers were in attendance at the Heng Sheng VIP club launch on Sunday.
The $360 million acquisition by Donaco in July and the current agreement by the Heng Sheng Group which was established in 2011 in Macau and currently operates gaming facilities in the United Kingdom, Vietnam and Macau, hope to expand Star Vegas’ current customer base of Thai customers.
Profits from the gaming facility, which will have up to 50 baccarat tables, will be shared by the Heng Sheng Group and Donaco, with the latter supplying dealers and Heng Sheng supplying customer service personnel. In return for a larger share of the profit, Heng Sheng will guarantee a minimum win rate, a THB3 billion per month turnover level minimum, and pay all junket commissions.
Union Gaming Securities Asia Ltd said last month that Star Vegas ‘additional yearly revenue resulting from the deal could be as much as US$29 million.