Macau (MNA) – Dragon Inc. has announced a partnership with South Korean gaming company 7Luck to apply its Dragon virtual tokens powered by blockchain technology for the company’s casino VIP rooms.
7Luck is owned by South Korean state owned gaming operator Grand Korea Leisure (GKL), and operates two casinos in Seoul and one in Busan, 7 Luck in Coex Intercontinental, 7 Luck in Millennium Hilton and the 7 Luck in Busan Lotte Hotel.
According to Dragon Inc. the agreement was made possible thanks to ‘the collaboration of highly respected and experienced licensed junket operators from Macau and Thailand’ which will bring their experience to the South Korean gaming sector.
Dragon VIP rooms are to be set up with the company’s blockchain platform, using its Dragon virtual tokens to ‘increase speed, security, convenience while reducing fees’ for room operators and high rollers.
“We look forward to the opening ceremony with Junket Agents and VIP players, which is planned for April 2018,” the Co-founder of Dragon Inc., Paul Moyan, stated in the release.
Dragon Inc. also stated it would look for partnerships in the ASEAN region throughout 2018, and that it will also attempt to establish partnerships in Europe later this year
The company previously confirmed to MNA it was to launch junket operations in Macau in the second quarter of this year, having tested its virtual token blockchain technology application via junket operations in markets such as South Korea.
Dragon Inc. initiated its main cryptocurrency initial coin offering (ICO) public investment round on February 15, having stated it has already raised US$320 million with the ultimate goal of raising some US$500 million.
The ICO enables investors to purchase virtual tokens called DRG to be exchanged for a cryptocurrency gaming chip called DGC (Dragon Global Chips) that can be used at Dragon Inc. partner junket operations or in their planned floating casino to be established in Macau, using blockchain technology as a security guarantee.