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Nice Work

by Newsdesk

Thu 12 Mar 2009 at 16:00

2

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Hong Kong-listed Get Nice Holdings, a financial services company, has raised its indirectly held stake in the Grand Waldo Hotel in Macau to HKD100 million—nearly half the current equity valuation of the property.

Grand Waldo, on the border between Taipa and Cotai, has a casino operated under Galaxy Entertainment Group’s gaming licence. It currently has 50 gaming tables—26 in VIP rooms and 24 on the main floor, as well as 93 slot machines.

Most of Grand Waldo’s gaming revenues come from VIP play. The venue is marketed under Galaxy’s CityClubs branding, but the fabric of the building is owned by outside investors, including Get Nice. An associated company, Clever Switch, owns the remaining 50 percent of the equity in the venue.

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Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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