Success Dragon ends another Vietnam slot club deal

Gaming service firm Success Dragon International Holdings Ltd has terminated its agreement with a slot club in Vietnam for the provision of electronic gaming machine management, a company filing announced on Monday after trading hours.
‘The Group and Le Meridien failed to reach an agreement on a new approach of cooperation and decided to terminate the Le Meridien Business Cooperation Contract by mutual consent on 27 March 2017,” the company wrote.
The company, according to its agreement with the Vietnamese company, provided investment, management and operations of the electronic gaming machines for the latter.
In January, a filing of the firm revealed that the slot club, located in the Le Meridien Hotel in Ho Chi Minh City, and another club in the One Opera Hotel in Danang both ‘encountered unexpected difficulties in obtaining the requisite business certificates for operation of electronic gaming machine business’.
Having terminated its cooperation agreement with the One Opera club in the same month, the company said then it ‘is in the process of discussing and negotiating with the Le Meridien slot club for a new co-operation approach’.
Currently, the company also provides management services greyhound racing business in Vietnam, apart from the MSAR.
Earlier this month, the gaming service firm said it had entered a non-legally binding memorandum of understanding to acquire a group of companies engaged in energy business in Mainland China, without revealing the name of the possible vendor.
For the first half of its fiscal year ended September 30, 2016, the company posted a net loss of HK$30.2 million (US$3.8 million), an improvement of 78.5 per cent from HK$140.3 million for the same period of 2015.