Hong Kong-based gaming company Dragon Corporation is pushing through with its initial coin offering (ICO) in a bid to raise more than $400 million for the construction of its floating casino.
The token sale is scheduled for Dec. 8 and will be open to investors in “most countries except the United States, mainland China and Singapore,” Dragon Corp. CEO Chakrit Ahmad told Macau News Agency. A “blockchain distributed ledger” will be provided to investors interested in snapping up the company’s digital tokens.
Under Dragon Corp’s ICO, investors will basically become a junket shareholder and get revenues from utilizing blockchain technology, which they can plug back into the token. The tokens will be listed in multiple exchanges, according to the company, so that investors will be able to “cash out” their funds via major digital currency exchange worldwide or Wi Holdings’ exchange.
The money raised from the token sale will help fund the construction of Dragon Corp’s 1,600-square-meter floating Dragon Pearl Casino Hotel, which is expected to make its way to Macau by 2019.