Macau pays 40 million for Casino of Troy – Magazine Saturday

Macau pays 40 million by Trojan Casino

The Macau Legend Development confirms the purchase of Trojan Casino, the reason that spurred an investment of EUR 200 million Setubal. a new company will be created, bringing together the Macanese with the current owners, the fund Aquarius and Amorim Turismo.

July 7, 2016 • Business

Wilson Ledo – Business Journal

The Macau Legend Development will pay 40 million euros for the majority stake and award Trojan Casino, under the investment plan is expected to Setúbal.
in a press release, the company dedicated to the area of ​​casinos explains that it has reached agreement with the background Aquarius Amorim Turismo and B & G to form a new company to develop the project on both sides of Sado
B & amp;. G – owned by Aquarius and the Amorim Turismo, and currently has the entire room games – “will transfer the Casino of Troy and granting to the new company”, can be read in the document that the business had access
the new company -. which should be formed by 31 December this year and will own and concessionaire of the casino in question – will have 55% stake held by Macau Legend Development. The other 45% will be in the hands of B & amp;. G
In addition to the 40 million, the group led by David Chow apply 50 million euros in bank guarantee. The Casino of Troy – whose concession ends in 2031 – has 2,500 square meters, 220 “slot machines” and 13 gaming tables
for this operation is closed successfully, it is necessary that the Portuguese Government approves the transfer. award casino to the new company that will be formed. The Macanese group gives still account that will need to submit documentation such as building permits in Setúbal.
The announcement to the market thus confirms the advanced news this Thursday, July 7, the Business. It was the interest in the Casino of Troy to justify the displacement of the team of David Chow to Portugal. Nevertheless, he concluded that it was not feasible to invest in that game room without providing Setúbal a set of support infrastructures.
A memorandum of understanding was signed with the Municipality of Setúbal, which provides for an investment that can reaching 250 million euros. The first phase, scheduled to start in early 2017 is 150 million of that total. It is expected to create three million new jobs.
Will be built two hotels, a block of 60 apartments, a marina, new facilities for the Clube Naval Setubalense, a parking area and cultural and commercial equipment.
to encourage investment on both sides of Sado, Macau Legend Development will create a new river shipping company. Portugal is the third location in the international expansion plan Macanese group, after Cape Verde and Laos.

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