• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Amax in deal with chairman for table op in Sihanoukville

Oct 29, 2019 Newsdesk Latest News, Rest of Asia, Top of the deck  


Amax in deal with chairman for table op in Sihanoukville

Hong Kong-listed gaming services company Amax International Holdings Ltd says it has reached an agreement with a company controlled by Amax International’s chairman and chief executive Ng Man Sun to take over a gaming table business in a casino located in Sihanoukville, Cambodia.

Amax International said in a filing on Monday that the gaming table business involved a total of four gaming tables located in the mass gaming area of the Sunshine Bay Hotel. The casino at that property commenced operations earlier this month and his operated by Mr Ng’s Lion King Entertainment Co Ltd, according to Amax International’s filing.

Mr Ng controls a stake of 27.74 percent in Amax International.

The deal between Amax and Lion King includes two parts: a lease agreement for the four tables, ending on September 30, 2020 at a monthly rental fee of HKD1.2 million (US$153,057); and an assignment agreement for the gaming table business rights for a period of five years at a consideration of HKD120 million. Amax International is to settle the consideration via a promissory note and by disposing of its shares in a company controlling a licence to conduct interactive gaming business in Vanuatu, in favour of Lion King.

“The company sees attractive potential in the gaming market in Shihanoukville… and would like to commence its business operation in the casino as soon as practicable,” Amax International said in its Monday filing.

Amax International said in October last year it would be providing “technical and pre-opening services” regarding the casino project in Sihanoukville.

The Cambodian province of Sihanoukville has in recent years been attracting much Chinese capital for creation of hotel complexes, with some of them possibly to be turned into casino resorts.


  • tweet
Related articles
  • Travel ban on casino hub Sihanoukville: reports
    Travel ban on casino hub Sihanoukville:...

    Mar 05, 2021  

  • NagaWorld ops paused after 11 staff positive for Covid-19
    NagaWorld ops paused after 11 staff...

    Mar 02, 2021  

More news
  • Fitch says LVS Nevada sale slight negative, Moody’s keener
    Fitch says LVS Nevada sale slight...

    Mar 05, 2021  

  • Melco says City of Dreams in Cyprus open summer 2022
    Melco says City of Dreams in Cyprus...

    Mar 05, 2021  


Latest News

Fitch says LVS Nevada sale slight negative, Moody’s keener

Fitch says LVS Nevada sale slight negative, Moody’s keener

Mar 05, 2021  

Despite United States-based casino group Las Vegas Sands Corp (LVS) being in line to generate US$6.25 billion from the sale of its Las Vegas, Nevada assets, Fitch Ratings Inc said in a Thursday memo...
Read More
Travel ban on casino hub Sihanoukville: reports

Travel ban on casino hub Sihanoukville: reports

Mar 05, 2021  

Melco says City of Dreams in Cyprus open summer 2022

Melco says City of Dreams in Cyprus open summer 2022

Mar 05, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“Prolonged closure of operations could derail earnings recovery and weigh on NagaCorp’s credit quality"

Junling Tan, Yu Sheng Tay and Vikas Halan

Analysts at credit rating agency Moody’s Investors Service



Most Popular

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Las Vegas Sands to sell off Nevada assets for US$6.25blnLas Vegas Sands to sell off Nevada assets for US$6.25bln March 3, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Pansy Ho again cuts stake in MGM Resorts, for US$57mlnPansy Ho again cuts stake in MGM Resorts, for US$57mln March 4, 2021
  • LVS plans to keep U.S. base, stock listing: spokesmanLVS plans to keep U.S. base, stock listing: spokesman March 4, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us