Black Spade and founder of dragon-i Gilbert Yeung sign MOU to join forces to revolutionise entertainment business worldwide

HONG KONG SAR - Media OutReach Newswire - 2 February 2024 - Black Spade Capital Limited ("Black Spade") announced that it has entered into a memorandum of understanding ("MOU") with Mr.

Gilbert Yeung ("Mr. Yeung"), the creator of: the legendary nightclub dragon-I, Tazmania Ballroom, Cassio, and the stylish reflexology and spa concept store Ten Feet Tall, to launch a new top-notch and exclusive global lifestyle, entertainment and hospitality group (the "Joint Venture") to tap into the great potential that the leisure and entertainment industry has to offer.

Under the collaboration framework, by leveraging the powerful business presence, reputation and network built by both parties in the international market, a Joint Venture will be set up by Black Spade and Mr. Yeung with an aim to discover business opportunities with great potential worldwide via the operation of a host of high-end lifestyle and entertainment attractions such as nightclubs, beach clubs, bars, restaurants and live performances. The Joint Venture targets to launch its first project in Macau, followed by expansion into major cities in Asia and different parts of the world, offering a robust mix of brand-new lifestyle and entertainment experiences, including day life, nightlife, dining and captivating, immersive theatrical performances.

Mr. Dennis Tam, President and CEO of Black Spade, said, "A Joint Venture between Black Spade and Mr. Yeung is definitely a breakthrough cooperation in the entertainment industry. Mr. Yeung is considered the iconic Hong Kong nightlife legend, he and his team enjoy great fame among celebrities and influencers around the world. The iconic dragon-i, together with the other nightlife and F&B businesses that Mr. Yeung operates, have garnered international reputation and recognition for their creativity. It will be exciting to see the Joint Venture set the gold standard for Entertainment 3.0."

Mr. Gilbert Yeung, Founder of dragon-i, said, "We are honoured to partner with Black Spade to revolutionise the entertainment industry. I am convinced that the Joint Venture will benefit greatly from the business perceptiveness of the Black Spade team, as well as their stellar track record in the international capital market. Macau is an entertainment hub with endless potential and also an ideal destination of choice for the Joint Venture's first project. The Las Vegas Strip generates 40% of its total revenue from gaming and another 60% from non-gaming, it implies a huge growth potential for the non-gaming sector in Macau. The Joint Venture's ambition is to develop Entertainment 3.0. By drawing inspiration from around the world by being on the ground and immersing ourselves in new experiences, we aim to combine AR/AI/CGI with offline leisure offerings and introduce an array of entertainment products, which ultimately take the Experience Luxury Economy to a new level while attracting even more guests from mainland China, Southeast Asia and the rest of the world. We have full confidence in the prospects of this cooperation and the growth upside that it brings about."

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About Black Spade Capital Limited

Black Spade Capital Limited is an established family office that manages the private investments of Mr. Lawrence Ho. Headquartered in Hong Kong, its global portfolio consists of a wide spectrum of cross-border investments as it consistently seeks to add new projects and opportunities to its investment mix. Black Spade's investment strategy maximizes coverage of geographic regions and sectors whilst maintaining a portfolio of diversified asset classes, ranging from equity, fixed income, medical technology, leisure and culture, green energy, real estate to Pre-IPO investments. In August 2023, Black Spade Acquisition Co, a blank check company (SPAC) sponsored by Black Spade, completed a US$23 billion business combination with VinFast Auto Ltd.

About Mr. Gilbert Yeung

Mr. Yeung, revered as the trailblazing "Godfather" of nightlife, continuously sets new benchmarks that surpass international standards. His renowned establishments such as dragon-i, Tazmania Ballroom, Cassio, and the stylish reflexology and spa concept store, Ten Feet Tall, stand as testament to his industry expertise, paving the way for others to follow. Since its opening in 2002, dragon-i has emerged as one of Hong Kong's most glamorous and exclusive venues, distinguished by its blend of traditional Asian elements with the modern. dragon-i is considered the second home of the "global glitterati," a high-end crowd with a taste for the finer things in life, including partying and dining.