Reveals Its Expansion Plan
|MACAU, May 13, 2005 - Michael K.M. Chan, Vice President of Greek
Mythology (Macau) Entertainment Group Corporation Limited was interviewed
by The Standard recently to discuss the business performance and development
plan of the newly opened Greek Mythology Casino. The following is
the abstract of the interview:
Goddess of good luck
Greek Mythology has taken many people's fancy throughout the centuries. Restaurants, theaters and even discos have used the Greco-Roman designs to give their establishments a classic touch.
But it was not until the Greek Mythology Casino, which Hong Kong public-listed A-Max Holdings Limited (HKSE: 959) holds 16% of, took up the theme that its spirit and charm were fully realized, which is very attractive to mainland travelers who have less chance to travel to Europe.
Greek Mythology (Macau) Entertainment Group Corporation Limited opened the new Greek Mythology Casino at New Century Hotel on December 23, 2004. The first phase of this integrated casino and entertainment project has a total gross floor area of 160,000 square feet and called for an investment of HK$600 million.
Design, construction and fitting out of Greek Mythology Casino took six months to complete. It opened with 228 gaming tables in the first phase, with a further expansion to 500 tables on an area of 300,000 square feet scheduled for 2005. In the third phase, a new 38-floor hotel wing will be built to house another 500 gaming tables in 2007. Greek Mythology has also spent a substantial amount to provide free entertainment performances, including Moulin Rouge, for visitors to enjoy.
It is Macau's second largest casino, next to the Sands, in terms of size and headcounts. ''It has attracted a flow of 20,000 to 30,000 people on a daily basis,'' Chan said proudly. ''And the headcount is still increasing.''
''We are fortunate to have Mr. Ng Man Sun as our controlling shareholder,'' Chan pointed out. ''He has more than 30 years of gaming experience in Macau and the Philippines, and is the owner of New Century Hotel.'' Mr. Ng is also the single largest shareholder of A-Max Holdings Limited.
Ng's keen eye on the gaming industry has helped Greek Mythology succeed. However, speaking of the ''Macau-concept stocks," Chan stressed that the Group has always been focused on practical business operations to avoid intentional speculations.
''We were already making profits on the first day of operation,'' Chan declared. ''I guess there would not be many other types of business with such a promising prospect. We had set our research and marketing strategies precisely right at the beginning.''
Regarding the gaming business, the Group is destined to expand both in and out of Macau, including other Asian countries and the USA. Besides, the group will seek to develop another new casino in addition to existing expansion plan.
Cross-boundary Ferry Pier
''It is set to become a new icon representing a closer link to Macau and mainland China through Tuen Mun,'' Chan said. ''The pier will be a new development to capture the increasing demand of cross-boundary services to Macau and mainland China from a location in the western New Territories.''
The proposed development, according to Chan, would be a new Tuen Mun landmark, and is expected to be launched between 2005 and 2006. While having the attributes of a new landmark structure, the proposed pier harmonizes unobtrusively with the surrounding environment.
|Also See:||Greek Mythology (Macau) Entertainment Group Limited HKD600-million New Century Hotel & Casino Opens / December 2004|
|Innkeepers Acquires Quality Inn Beach Block Hotel in Atlantic City, N.J. for $8.6 million; Will Convert to Courtyard by Marriott / June 2003|