The fields of blockchain technology and gaming are convincingly intertwining more and more in an attempt to bring more to both fields and facilitate future operation as it moves in a more technologically advanced direction. Dragon Incorporation has become notoriously known as the company which could not realize its ambitious floating Dragon Pearl Hotel and Casino project due to several setbacks and development in the case continues to tangle further as time progresses.
Nowadays it comes as no surprise to anyone that companies in the gaming field become braver when it comes to their operation and the plans they introduce in the public space. Such was the case with the Hong Kong-listed Dragon Incorporation which had the innovative objective to bring to life a floating casino resort funded by initial coin offering (ICO) striving to raise funds in support of the idea. The casino venue was supposed to launch operation by 2021 once the fund-raising had succeeded amassing $400 million for the project.
According to the previously issued information regarding the project it was supposed to feature a gaming area of 16,000 square meters, and the hotel will offer a total of 400 rooms and suites to its guests. Retail and dining space, sports facilities, a spa and a car park will also be available. The pre-engineering design of the Dragon Pearl casino is estimated to $15 million, with Dragon Incorporation having confirmed the Norwegian company Brova Idea AS as the developer of the floating structure that is to feature a hotel and casino.
There have been discussions between the two companies which were aiming to establish the future partnership which commenced in September 2017. Brova was supposed to help with generating some 80 percent or the larger chunk of the funds for the project.
Unfortunately, according to the information provided by Dragon Incorporation in a recent official statement for Macau News Agency, the negotiation process between the two parties witnessed a significant plunge towards the last months of 2017. It could be recalled that earlier Brova Idea made a statement that the entire project witnessed failure because Dragon could not provide the needed payment.
Dragon Inc. Looking Forward to Accomplishing its Goals
In addition to that, some changes introduced to the previously debated contracts also obstructed the progress toward a successful collaboration. It appears, that each of the parties involved has its own perspective of the situation and they are both right for themselves, leaving the public without one solid position to rely on. Along the project, there have been several notoriously-known names intertwined which had been concerning for the Chairman of Bova Idea, Milo Andric.
On the official opening ceremony hosted by Dragon Corp which he attended there was also present former Triad kingpin Wan Kuok-koi, also known as “Broken Tooth” which raised the concerns that he might have been involved in the project in some way.
However, this uneasiness and suspicions were soon cleared up by the Chief Executive Officer of Dragon Corp himself, Chakrit Ahmad who made it clear that there has not been any link between the proposed project and the said individual with criminal past. Since this is all a significant negative publicity against the company, some damage control could be expected and the most recent official statements coming from leading figures within the structure of the company prove it.
The name of Cambridge Analytica was also involved in the case, as the UK-based company which became famous around the Facebook data leak scandal had been previously employed to provide promotion for the company. As it was later clarified by Dragon the business was hired to devise banner advertisement and in fact, had no saying in the way the floating casino project is being developed.
What is curious, however, is that Brittany Kaiser, who is a former Director of the political consulting firm pointed out during an interview for New York Times that “Broken Tooth” had had a significant role in the project, since he was listed as the leading fund provider for the initial coin offering of Dragon Coin. For the time being the situation remains filled with many question marks and variables and all parties involved are seeking ways in which they could potentially preserve their reputation in a pristine condition.
In the meantime, it was also confirmed that the plans for a floating casino remain on the table and Dragon is willing to pursue them with the help of another company.