Success Dragon Announces Two Vietnam Slot Club Contracts

Until last week, Success Dragon International Holdings Ltd, known as CY Foundation Group Ltd, said it had signed two contracts to manage electronic game consoles at gaming clubs at two five-star hotels in Vietnam.

One contract signed on October 28 was signed with 990 Inc., described as the owner of Le Merdien Hotel, a five-star property in Tien Phuoc and Ho Chi Minh City.

Under the deal, the company said in a filing with the Hong Kong Stock Exchange on Friday that it would be responsible for the investment, management and operation of the Electronic Gaming Machine Club at the venue for "at least 10 years."

Filing has been added that the business cooperation agreement is currently being finalized.

The second deal, signed on Thursday, was signed with the owner of One Opera Hotel, a five-star hotel in Danang and described as a commercial complex. As a result, Success Dragon has been named the exclusive manager of the game with prizes for an initial period of 10 years at the Electronic Gaming Machine Club of the One Opera Hotel, and may extend his contract for a second period of 10 years.

The latter deal is subject to the issuance of a business certificate for the venue by February 1 next year under Vietnamese law for the operation of these games.

Under the One Opera Hotel contract, Success Dragon can receive a monthly maintenance fee of 4% of the venue's total income after deducting the athlete's prize money and consumption tax.

"Although Vietnamese law currently allows only foreigners and Vietnamese with foreign passports to gamble at casinos and electronic game machine clubs, the company targeted Vietnam "because more foreign visitors are expected to visit Vietnam," it said, leading to potential growth in the electronic game industry." 바다이야기

The file said the group currently manages "about 800 operating gaming machines in Macau." The document added that Success Dragon plans to expand its outsourced electronic game console management business internationally to expand its revenue source. Vietnam was the first country to be selected for this expansion.

Success Dragon, which changed its name on Thursday, is the parent company of Macau-based casino service provider CY Management Ltd. The latter company currently provides management services to three casinos in Macau, and information technology services to two different casinos downtown.