Macau (MNA) – The CEO of Hong Kong based company Dragon Corporation,Chakrit Ahmad, told Macau News Agency (MNA) it plans to open the Dragon Pearl floating hotel/casino by early/mid-2021.
The Dragon Pearl will be developed using part of the funds raised by the group’s virtual token initial coin offering (ICO) which started today with the primary objective of raising more than US$400 million (MOP3.21 billion).
“Most of the raised money will be kept as a reserve so that the platform can work. Part of it will be used to fund the casino,” company CEO Chakrit Ahmad told MNA.
The Dragon Pearl casino was described in a white paper released today explaining the company’s ICO model as a ‘flagship hotel/casino in Macau that is floating, static anchored, eco-friendly and cashless’ with the property only accepting the company’s virtual tokens.
The casino’s pre-engineering design would cost US$15 million, with Norwegian company Brova Idea AS having confirmed to MNA previously it has been contracted to develop a floating structure with a hotel and casino to be installed in the MSAR by April 2020, with the total cost of the project calculated at some US$300 million.
The initial US$15 million will be used to complete the Engineering, Procurement and Construction (EPC) contract with Brova, with all specifications and pricing prior to construction defined, and for the designs and specifications to be finalised, Mr. Ahmad informed.
‘Assuming the necessary approvals and construction go as planned, the expected opening is early/mid-2021,’ the white paper released today confirmed.
Mr. Ahmad told MNA that obtaining the casino permit will take time since the property will be “the 1st of its kind,” but added the company had “alternative locations planned as well, as a precaution,” to where the movable casino could be moved.
The property will have a 16,000 square metres of gaming area and will offer a 400 luxury guest rooms and suites, restaurants and retail spaces, a pool, spa, sports facilities and a car park.
The floating structure – of which diameter is 100 metres – will be anchored close to shore with a vehicle and pedestrian causeway, with Brova’s previous conceptual plans placing the casino off Nam Vam Lake.
[Edited by Sheyla Zandonai]