Hong Kong-listed gaming investor Amax International Holdings Ltd says it has delayed by up to three months the launch of an interactive betting operation – likely to include live VIP play – in the Pacific island republic of Vanuatu (pictured).
Amax had announced in mid-October that it had completed the purchase of a 60 percent stake in Forenzia Enterprises Ltd, a firm that has access to an online gaming licence for Vanuatu. The deal was closed for a total consideration of HKD48.1 million (US$6.2 million).
Amax said in a filing on Tuesday that the local regulator had agreed to grant the target company an extension on the deadline for the start date of gaming operations – from December 31 2014, to March 31, 2015.
Amax added that “additional time is required for the company to complete the installation of the software as well as staff recruitment and training…”
Sep 20, 2021The Macau government should give more detailed information on its proposed new regulatory requirements for the city’s gaming sector, in particular the idea of raising the minimum share capital...
”The Macau government is not aiming to trivialise or drive out the junket sector, but to regulate the sector so that it would not hurt Macau’s reputation”
Alvin Chau Cheok Wa
Chief executive of privately-held VIP junket business Suncity Group