After completing a series of deals that controlled 72 percent of casinos in South Korea's Jeju KAL Hotel, China's real estate developer and operator New Silk Road Culture Entertainment Limited announced a rebranding of the new Mega Luck Casino, managed by a subsidiary of the company.
Formerly known as the Golden Beach Casino, the foreign-only venue on Jeju Island offers 24 electronic game consoles and a roulette table, along with a pair of blackjack tables and 25 baccarat tables, while New Silk Road Cultural Entertainment Ltd. says the new name is intended to "provide an attractive environment, world-class gaming and entertainment facilities, and a pleasant experience for all guests."
"This change of name represents the success of the new management, taking a step further in identifying the opportunities brought by the rapid development of games and tourism in Jeju and developing one of the nation's largest integrated resort complexes, integrating existing casino businesses and opening up a brighter future," said Hong Kong-listed New Silk Road.
New Silk Road Culture Entertainment Limited, controlled by Chinese firm Macrolink Holdings Ltd through a subsidiary of Macrolink Culture Entertainment Limited, is also Asia's leading wine distributor, with Megaruck Casino reporting $2.19 million in sales in the first half of last year, accounting for 14.8% of its total business.
"New Silk Road Culture Entertainment Limited will evolve into a global gaming and entertainment conglomerate with the highest standards in operations and internal control," said Paul Ng, executive director of New Silk Road Culture Entertainment Limited. "At the same time [Mega Luck Company Limited] will also grow and enhance the core value of New Silk Road Culture Entertainment Limited, while expanding our business into the cultural tourism sector to expand revenue sources and improve business growth."
New Silk Road Culture Entertainment Limited previously acquired Macrolink Yeonggwang Hill Limited with the aim of developing a new integrated casino resort on Jeju Island under the Yeonggwang Hill brand, and said in May that its operator Melco International Development Limited, managed by Hong Kong businessman Lawrence Ho Yau Lung, signed a deal to provide related consulting services.
"This name change is an important milestone for new executives to take the gaming business to a new level," Ng's statement reads.
