Amax downplays impact of Macau hotel temporary closure

Macau junket and casino investor Amax International Holdings Ltd has downplayed the impact of the temporary closure of Beijing Imperial Hotel to the group’s financial position and operation.

In an announcement to the HongKong Stock Exchange on Friday, Amax allayed fear of investors that the brief operation stoppage of Beijing Imperial Palace Hotel, which houses its beleaguered casino, Greek Mythology, will have a negative effect on the financial position of the company.

On the contrary, Amax claimed that Greek Mythology – which was temporarily shut since December 30 on the request of SJM Holdings – could continue its operation notwithstanding the close-down of the hotel under the law of Macau.

The Hongkong-listed gaming services firm, however, admitted that the temporary lock down of Beijing Imperial Palace Hotel may have a negative impact on the number of visitors and its business plan.