• 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

HK property firm pursuing European casino, hotel biz

Mar 06, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck, World  


HK property firm pursuing European casino, hotel biz

Hong Kong-listed property developer Far East Consortium International Ltd wants to acquire a firm with gaming business in the Czech Republic, and which also has hospitality business there and in Germany and Austria, according to Monday filing by the suitor.

The target is Trans World Corp, a Nevada-incorporated firm currently said to own and operate two four-star hotels and one three-star hotel in Germany; one four-star hotel in Austria; and one four-star hotel in the Czech Republic. In addition, Trans World Corp owns and operates three casinos in the Czech Republic – all under the registered brand “American Chance Casinos” (pictured), with one of them situated next to the hotel that the group operates in that country.

According to the suitor, Trans World Corp has gaming licences entitling it to operate “live and technical games” in three casinos respectively in the Czech Republic. Each licence is valid for three years from January 2, 2018, according to the filing.

The consideration “shall not exceed US$42 million” save for any adjustments for “dissenting” shareholders, the Monday filing stated. The deal will be paid for by FEC Overseas Investment (UK) Ltd, an indirect wholly-owned subsidiary of Far East Consortium International.

The deal needs to be approved by the State of Nevada, where the purchasing vehicle, FEC Investment (US) Ltd, was set up on February 7, the regulatory announcement said.

In the Monday filing, Far East Consortium International said the acquisition of Trans World Corp “would add some of the best casino assets in the region” to the group, as well as providing an “additional stream of steady recurring cash flows and profits”.

Far East Consortium International is also an investor in a casino hotel scheme in Queensland, Australia. Australian casino operator Star Entertainment Group was granted in October a casino licence for Queen’s Wharf Brisbane, in Queensland’s state capital. The investors in that casino resort project include Hong Kong-based Chow Tai Fook Enterprises Ltd and Far East Consortium (Australia) Pty Ltd, a unit of Far East Consortium International Ltd.


  • tweet
Related articles
  • Tak Chun CEO Levo Chan primed for Macau Legend board
    Tak Chun CEO Levo Chan primed for Macau...

    Nov 09, 2020  

  • Eldorado, Caesars complete US$17bln merger
    Eldorado, Caesars complete US$17bln...

    Jul 21, 2020  

More news
  • Macau VIP challenged by changes in China: Galaxy Ent boss
    Macau VIP challenged by changes in...

    Feb 25, 2021  

  • Ainsworth US$40mln half-year loss on impairment charge
    Ainsworth US$40mln half-year loss on...

    Feb 25, 2021  


Latest News

Macau VIP challenged by changes in China: Galaxy Ent boss

Macau VIP challenged by changes in China: Galaxy Ent boss

Feb 25, 2021  

Macau casino operator Galaxy Entertainment Group Ltd plans to stengthen its focus on the mass and premium mass segments of the gaming market, as the city’s VIP sector is likely to be challenged by...
Read More
Ainsworth US$40mln half-year loss on impairment charge

Ainsworth US$40mln half-year loss on impairment charge

Feb 25, 2021  

Galaxy Ent 4Q EBITDA up 207pct sequentially: firm

Galaxy Ent 4Q EBITDA up 207pct sequentially: firm

Feb 25, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day


US$129.0 million

Adjusted EBITDA reported by Macau casino operator Galaxy Entertainment for the fourth quarter of 2020



Most Popular

  • Macau casino GGR soared in final days of CNY: brokeragesMacau casino GGR soared in final days of CNY: brokerages February 23, 2021
  • Pansy Ho sells off more stock in MGM Resorts for US$36mlnPansy Ho sells off more stock in MGM Resorts for US$36mln February 23, 2021
  • Macau removes last mainland cities from its quarantine listMacau removes last mainland cities from its quarantine list February 23, 2021
  • GEG in US$1.6bln construction deal on Galaxy Macau Phase 4GEG in US$1.6bln construction deal on Galaxy Macau Phase 4 February 22, 2021
  • Caesars out of Korea, ex-partner R&F asks 3yr delayCaesars out of Korea, ex-partner R&F asks 3yr delay February 19, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us