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He demanded cash upfront.
By Lucia MouriƱo, asia, Casino News, 07/18/2018, dragon discussed the idea of the floating casino.
We pushed for Escrow or Bank Guarantee and biggest casino in africa the escrow or Bank Guarantee would have been released once the financing 80 per cent was secured according to his promise, Dragons CEO, Chakrit Ahmad told the news agency.
Edited by Sheyla Zandonai.The Dragon Pearl casino was described in a white paper released today explaining the companys ICO model as a flagship hotel/casino in Macau that is floating, static anchored, eco-friendly and cashless with the property only accepting the companys virtual tokens.Every week, we scour the internet to find you the latest greatest Online Casinos.Macau (MNA) The CEO of Hong Kong based company Dragon Corporation, Chakrit Ahmad, told Macau News Agency (MNA) it plans to open the Dragon Pearl floating hotel/casino by early/mid-2021.However, the project failed and the company is now blaming Norwegian company Brova Idea AS for not securing the necessary funds.T Cs including wagering requirements apply.The company said that the negotiations with Milo Andric, head of the Norwegian company, started to fail at the end of last year after he demanded an upfront payment while failing to show evidence that he had found financing for the floating casino.The floating structure of which diameter is 100 metres will be anchored close to shore with a vehicle and pedestrian causeway, with Brovas previous conceptual plans placing the casino off Nam Vam Lake.The lawyers of Dragon Incorporation Limited sent a statement to Macau News Agency saying that Brova failed to keep its end of the deal as it didnt secure the necessary funding for the project.The property will have a 16,000 square metres of gaming area and will offer a 400 luxury guest rooms and suites, restaurants and retail spaces, a pool, spa, sports facilities and a car park.The company said that it has no responsibility for the failure of the project and blamed its partner for not securing funding.The casinos pre-engineering design would cost US15 million, with Norwegian company Brova Idea AS having confirmed to MNA previously it has been contracted to develop a floating structure with a hotel and casino to be installed in the msar by April 2020, with the total.Macau.- Dragon Coin announced plans to build a floating casino in Macau, which wouldve significantly expanded the innovative industry of the city.Ahmad told MNA that obtaining the casino permit will take time since the property will be the 1st of its kind, but added the company had alternative locations planned as well, as a precaution, to where the movable casino could be moved.The initial US15 million will be used to complete the Engineering, Procurement and Construction (EPC) contract with Brova, with all specifications and pricing prior to construction defined, and for the designs and specifications to be finalised,.Nevertheless, Ahmad said that Dragon is still interested in pursuing a casino with a separate company, but the original idea could change and could end up presenting the idea for a land-based casino.