CY Foundation completes slot management deal

Following an announcement in May of its intention to acquire Weike G. Management Macau Limited and a vote by shareholders last month, CY Foundation Group has taken over the company, which manages Pharaoh’s Palace Casino’s slot machines.  

Weike began operating the slot machines at Pharaoh’s Palace at The Landmark Macau hotel under a deal signed in February which gives it 28 percent of the revenue generated from the machines.  A director of Weike Gaming said that the plan was to change the name of Weike G. Management Macau Limited to avoid confusion between the manufacturer and management company.  Weike generated revenues of 1.78 million patacas (US$ 227,000) in the year ended March 31, while posting a net loss of 3.67 million patacas.