Cape Verde in talks with Macau Legend over reversion of gaming concession – Deputy PM
Wednesday 15 de May 2024 / 12:00
⏱ 1 min read
(Macau).- Cape Verde’s government is in talks with Macau Legend Development over the reversion of the gaming concession granted to the Macau casino services operator the Lusophone African country’s deputy prime minister told the archipelago’s public radio broadcaster, RTC.
Olavo Correia recalls that the Djeu na Gamboa casino-resort project in the country’s capital, Cidade da Praia, began in 2004 with the signing of a first protocol with businessman David Chow, followed in 2014 by a memorandum of understanding, a year before an establishment agreement was signed.
The project promoter and the government signed two addenda to the project, one in 2017 and another in 2019, to resize the project.
The Deputy Prime Minister and Minister of Finance recognise that David Chow is in breach of the Cape Verde Government.
Olavo Correia, who was in Macau last month to attend the 6th Forum Macau Ministerial Conference, revealed that the Cape Verdean government is negotiating with Chow to return the land and revert the concession in an amicable manner in order to find another promoter to carry out the Djeu na Gamboa project.
Cape Verde’s prime minister said in October 2023 would be revoking the concession for the hotel-casino project in the city of Praia after Macau Legend announced its exit from the project.
The government has already set a deadline of two months, starting this month, to reach an understanding with the promoter of the Djeu na Gamboa Project, RTC adds.
Olavo Correia guarantees that the government is committed to reaching an understanding with David Chow’s company to give a new direction to the casino-resort project.
Categoría:Casino
Tags: Sin tags
País: Macao
Región: Asia
Event
SiGMA North America 2026
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