ursuant to the cooperation arrangement, Melco is to provide consultancy services to New Silkroad with regard to building, equipping and fitting-out of New Silkroad’s new casino on Jeju Island, as well as preparation and organization of the casino’s marketing activities. The services also include the provision of intellectual property and know-how.
SU Bo, Chairman and Executive Director of New Silkroad, said, “The strategic partnership with Melco will enable New Silkroad to benefit from the extensive experience and expertise of the respected international gaming brand, through its participation in the design and early-stage development of our mega-casino. We expect the casino to be a true world-class player with the highest standards in operations and internal controls, enabling us to grow and enhance our core competitiveness while we diversify our business into overseas tourism real estate industry, thereby broadening our income sources and creating value to our shareholders. We look forward to a long term partnership with Melco as we grow into a larger and more sustainable company.”
Clarence Chung, Executive Director of Melco, added, “We are delighted for Melco to participate in this exciting project in South Korea with New Silkroad. Leveraging our strong experience and proven track record of creating and operating world-class integrated entertainment and leisure resorts across different geographies such as Macau, Manila and Russia, Melco can bring professional concepts and practices to New Silkroad’s project and enhance Jeju’s tourism appeal on a global stage.”