Hong Kong-listed gaming investment business Amax International Holdings Ltd says it has agreed to provide “technical and pre-opening services” regarding a casino project in Sihanoukville, Cambodia.
The deal involves Amax International’s wholly-owned subsidiary Victor Mind Global Ltd and Cheung Shing Global Travel Entertainment Ltd. According to a filing from Amax International from Thursday, Cheung Shing Global Travel is wholly-owned by veteran Macau junket operator Ng Man Sun, who is also Amax International’s chairman.
The technical and pre-opening services for the casino include design and development of the information technology system and internal control systems, and design of the casino floor. The agreement also covers staff recruitment, supply procurement and support regarding licensing of the gaming facility.
The services are expected to be completed by March 31, 2019, according to the filing by Amax International. Victor Mind Global is to receive up to a total of HKD9 million (US$1.1 million) for its services.
The Amax brand was once one of the most powerful in the Macau casino VIP gambling segment via a separate business that had interests in junket operations.
According to its 2018 annual report issued on July 30 and covering the 12 months to March 31, Amax International itself was as of the date of the report operating a gaming business in Vanuatu and a VIP room in Cambodia.
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”Our own consensus is that any newcomers to this [junket] sector should be corporatised, and should be financially sound and able to commit a higher guarantee deposit”
Kwok Chi Chung
President of junket trade body, the Macau Association of Gaming and Entertainment Promoters