Lawrence Ho firm sells tech to Tigre de Cristal casino
A Russian casino venue linked to gaming entrepreneur Lawrence Ho Yau Lung is to get additional gaming equipment from a firm connected to Mr Ho. The venue, Tigre de Cristal, in the Russian Far East, had its official opening on November 11.
Dolphin Products Ltd, a maker of casino currency, is to sell equipment worth US$198,648 to a firm called Oriental Regent Ltd under a supplemental agreement. The latter company owns the entire equity interest in the gaming project located in the Primorye Integrated Entertainment Zone near Vladivostok.
It had been announced in April that the Tigre de Cristal venue would get US$1.29-million worth of casino currency from Dolphin Products.
Dolphin Products is an indirect subsidiary of Entertainment Gaming Asia Inc, a Nasdaq-listed company in which another company controlled by Mr Ho – Melco International Development Ltd – holds approximately 64.84 percent of the issued shares.
Summit Ascent Holdings Ltd – a Hong Kong-listed firm also controlled by Mr Ho – is 60 percent owner of Oriental Regent. The latter in turn holds the entire equity interest in G1 Entertainment LLC, which holds the gaming licence for Tigre de Cristal.
“The directors… are of the view that the terms of the supplemental agreement are no less favourable to Oriental Regent than those obtainable from independent third parties,” said a Friday filing from Summit Ascent, commenting on the latest casino equipment deal for Tigre de Cristal.
Melco Crown Entertainment Ltd, a firm that runs casinos in Macau and the Philippines – and of which Mr Ho is co-chairman and chief executive – said in December last year it would purchase gaming equipment worth up to US$29 million from Dolphin Products under a deal lasting three years and starting on January 1, 2015.
Latest News
G2E Asia 2023: Singapore
-
Jackpot tech focus on tables not just slots: Paltronics Commercial opportunities for utilisation of... -
Konami taps market-tried slots to refresh Asia op offer Gaming content and equipment maker Konami says it is... -
L&W building game content across 3 pillars: Ken Jolly Casino gaming content and hardware provider Light &... -
ETGs rapid growth segment in Asia: Interblock Michael Hu Electronic table games (ETGs) supplier Interblock dd is... -
GLI offering RNG test tools, cybersecurity demand growing Random number generator (RNG) testing tools are among the... -
Alfastreet’s new Verso cabinet heading to Asian markets Alfastreet, a manufacturer of electronic gaming machines,... -
Sega Sammy Creation growing land-based, eyes online Casino equipment maker Sega Sammy Creation Inc is tweaking... -
iGaming growing in Asia, ops tackling challenges: Uplatform The iGaming segment in Asia “has grown rapidly” since... -
‘See before you play’ slot marketing tool, say tech... Showing slot machine players – via animations on the... -
Macau stocks tied to China outlook: Bloomberg analyst Macau stocks in likelihood “have been punished too much... -
Investors still eye possible fresh IR locations in Japan:... There are foreign companies still interested in investing... -
Thai casino law possible in 2024, IR in 2030: govt adviser Thailand could pass the necessary enabling legislation for... -
China still ‘critical’ to Asian markets: G2E Asia panel China will remain a key market for Asian gaming... -
Much interest in state casinos sale, says Pagcor boss Alejandro Tengco (pictured in a file photo), chairman and... -
Gaming industry in for a very exciting period: Bill Miller There are “plenty of reasons” for the global gaming... -
IGT flags route to high-performing games for Asia Gaming equipment provider International Game Technology Plc... -
G2E Singapore trade show, conference begins today The Global Gaming Expo (G2E) Asia 2023 Special Edition:... -
Novomatic’s Black Edition II cabinets at G2E in Singapore Austria-based gaming equipment maker and operator Novomatic... -
Uplatform to show latest iGaming products at G2E Singapore Sports betting and online casino operating platform... -
L&W ambition to be No1 in Asia well on its way: SVP... The business performance in Asia of gaming content and... -
G2E Singapore expecting 6k visitors, 100+ exhibitors The organisers of Global Gaming Expo (G2E) Asia 2023... -
‘Dragon Unleashed’ slot link by L&W at G2E in... Gaming content and equipment supplier Light & Wonder... -
Sega Sammy Creation new multi-ETG at G2E in Singapore Casino equipment maker Sega Sammy Creation Inc is to... -
Aristocrat at G2E Asia in Singapore previews Year of Dragon Casino slot machine and digital gaming content provider... -
IGT ‘Prosperity’ link in Asia show debut G2E in... The Global Gaming Expo (G2E) Asia event in Singapore is the... -
Thai parliament adviser on casinos attending G2E Singapore An adviser to a Thailand parliamentary committee mulling...
Sign up to our FREE Newsletter
(Click here for more)
Most Popular
China Politburo meeting key for any policy shift: UBS June 7, 2023 
No Macau op yet asked GGR tax rate exemption: govt June 9, 2023 
Suntrust to get up to US$446mln loan from local bank June 9, 2023
