A group of 20 travel agencies is seeking to have a proposed redevelopment of Macau’s Beijing Imperial Palace Hotel, home of Greek Mythology casino, put on hold until the resolution of a lawsuit filed against the property’s former owner.
According to a report by Macau News Agency, the group has formed a collective called “Victims Group of Beijing Imperial Palace” and filed a lawsuit against Empresa Hoteleira de Macau, a company owned by the Chairman of Amax International Holdings, Ng Man Sun, alleging they are owed MOP$100 million (US$12.4 million), related to the pre-booking of over 70,000 guest room nights before the hotel’s closure in 2016.
The lawsuit comes in the midst of an unrelated dispute over ownership of the hotel between Empresa Hoteleira de Macau and Victory Success Holdings Limited, a company owned by Suncity Group CEO Alvin Chau.
It is unknown which company has filed the development application with Macau’s Land, Public Works and Transport Bureau, with the President of the Travel Industry Council of Macau, Wu Keng Kuong, telling MNA, “We knew about the redevelopment planning online, but we don’t know who is the one that has submitted this redevelopment application as well.”
Greek Mythology was closed in December 2015 under order of the DICJ, with the Macau Government Tourism Office subsequently ordering The Beijing Imperial Palace Hotel to cease operations on 22 July 2016. The hotel’s license was revoked on 12 January 2017.
Amax International Holdings Ltd, which has unsuccessfully pursued the casino’s former management company in recent years for financial records, decided to write off its 24.8% stake in Greek Mythology, valued at more than HK$353 million (US$45 million), earlier this year in order to remove a Disclaimer of Opinion issued by its auditors. The stake was sold to local Macau investment firm, Fu Po International Limited, for just HK$38,000 in February.
RelatedPosts
