Mar 17, 2017 Newsdesk Latest News, Macau, Top of the deck  
Casino services investor Amax International Holdings Ltd is to acquire some mobile game software applications for a consideration of HKD27 million (US$3.48 million).
The transaction with a third-party vendor will involve issuing consideration shares under a general mandate, with each unit of such stock at an issue price of HKD0.450.
An associated company of Amax International was once one of the biggest junket investors in the Macau casino market – when judged by monthly rolling chip volume – investment analysts have said.
On completion of the latest exercise by Amax International – and following approximately six months of preparatory work – the group plans to launch the game apps “via various well-known third-party digital distribution platforms,” it said in Thursday’s filing to the Hong Kong Stock Exchange. The document did not name the distribution channels, but said they would charge a commission to carry the apps.
It added: “To enjoy the mobile game apps, players need to purchase virtual tokens via the distribution platforms.”
The parties transferring the apps to Amax International were named in its filing as Patrick Wah Poon and Kristy Ng Wing Ki, who were each said to have a 50 percent interest.
The filing further stated regarding the apps: “The virtual tokens are not redeemable into cash nor exchangeable into other items of value… To attract players to download and consume the mobile game apps, the company plans to recruit its own marketing team or engage third-party marketing consultants as deemed appropriate…”
Amax International stated: “In view of the increasing popularity of the use of mobile devices and mobile entertainment, combining with the company’s expertise in the gaming and entertainment-related businesses, the directors are confident that the launching of the mobile game apps could bring… additional income stream to the group.”
The firm also has interests in offshore online gaming. In November, Amax International said in a filing that an “interactive gaming” business it runs in the Pacific island nation of Vanuatu had generated revenue of HKD1.7 million in the six months ended September 30.
Some investment analysts said that the former strength of Amax International’s associated Macau junket investment unit was thanks largely to the unit’s aggressive rates of rolling chip commission designed to incentivize players and their go-between agents. But the associated business’s fortunes began to turn after the Macau government indicated it was minded to set a market-wide cap of 1.25 percent on rolling chip commission.
More recently the chairman of Amax International, Ng Man Sun, has been in a bitter dispute – played out in the Macau media – with his former domestic partner, businesswoman Chen Mei Huan, over the future of a Taipa casino-hotel property formerly known as the New Century but later renamed as Imperial Beijing Palace Hotel.
The hotel is currently shuttered after the management handed back its Macau government operating licence.
But a statement issued in January in behalf of Mr Ng said Amax International planned to redevelop, renovate, and reapply for the hotel licence “as soon as irregularities caused by former management are rectified, and compliance requirements are once again met”.
Jun 06, 2023
May 31, 2023
Jun 08, 2023
Jun 07, 2023
Jun 08, 2023
Casino equipment and game technology provider Light & Wonder Inc says it has an agreement with Shift4 Payments Inc to integrate the latter’s firm payment processing technology into Light &...Jun 07, 2023
Casino gaming content and hardware provider Light &...Jun 06, 2023
Electronic table games (ETGs) supplier Interblock dd is...Jun 05, 2023
Random number generator (RNG) testing tools are among the...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
”We’ve said we want to grow EBITDA ... to US$1.4 billion in 2025. And we have a really high level of conviction about getting there”
Matt Wilson
Chief executive of casino equipment provider Light & Wonder