Long Success wants to leave VIP business

Paper maker Long Success, which also operates a VIP room in the Venetian Macao, is considering selling its gaming business, chief executive Hu Dongguang said this week. The group wants to focus on the development of business in the environmental protection industry. Therefore it intends to de-emphasize its IT consulting services business and its gaming and entertainment business in Macau in the future. In the financial year ended March 21, 2010, Long Success’ revenue from the sharing of profits of Jun Ying VIP Club decreased 76.5 percent to approximately HK$240,000. Although Long Success moved the Jun Ying VIP Club from Grand Waldo to the Venetian Macao in May 2009, the number of visitors stood below the group’s expectations during the year. “Obviously, the keen competition arising from continuous openings of new casinos in Macau has made the operating environment more difficult,” the company wrote in its annual report.