Hong Kong-listed gaming services company Amax International Holdings Ltd AMAX said it had reached an agreement with a company controlled by Amax International's chairman and chief executive Ngman Sun to acquire the gaming table business at a casino located in Sihanoukville, Cambodia.
Amax International said in a filing on Monday that its gaming table business includes a total of four gaming tables located in the public gaming area of the Sunshine Bay Hotel. The casino at the property went into operation earlier this month, where he runs Ng's Lion King Entertainment Co Ltd, according to a filing from Amax International.
Mr. Ng owns a 27.74% stake in Amax International.
The transaction between Amax and Lion King consists of two parts: a lease on four tables ending at a monthly rent of HK$1.2 million (US$153,057) on September 30, 2020, and an allocation agreement for a gaming table business right for five years in exchange for HK$120 million (US$120 million). Amax International will settle the consideration through a promissory note, and by divesting the shares of the company controlling the license to conduct the interactive gaming business in Vanuatu in favor of Lion King.
"The company sees attractive potential in Sihanoukville's gaming market... And we want to start our business at the casino as soon as possible," Amax International said in a filing on Monday.
Amax International said in October last year it would provide "technology and pre-opening services" in connection with Sihanoukville's casino project. 바카라사이트
Cambodia's Sihanoukville state has attracted a lot of Chinese capital in recent years to create hotel complexes, some of which are likely to turn into casino resorts.
![Hong Kong-listed gaming services company Amax International Holdings Ltd AMAX said it had reached an agreement with a company controlled by Amax International's chairman and chief executive Ngman Sun to acquire the gaming table business at a casino located in Sihanoukville, Cambodia.
Amax International said in a filing on Monday that its gaming table business includes a total of four gaming tables located in the public gaming area of the Sunshine Bay Hotel. The casino at the property went into operation earlier this month, where he runs Ng's Lion King Entertainment Co Ltd, according to a filing from Amax International.
Mr. Ng owns a 27.74% stake in Amax International.
The transaction between Amax and Lion King consists of two parts: a lease on four tables ending at a monthly rent of HK$1.2 million (US$153,057) on September 30, 2020, and an allocation agreement for a gaming table business right for five years in exchange for HK$120 million (US$120 million). Amax International will settle the consideration through a promissory note, and by divesting the shares of the company controlling the license to conduct the interactive gaming business in Vanuatu in favor of Lion King.
"The company sees attractive potential in Sihanoukville's gaming market... And we want to start our business at the casino as soon as possible," Amax International said in a filing on Monday.
Amax International said in October last year it would provide "technology and pre-opening services" in connection with Sihanoukville's casino project. [url=https://www.outlookindia.com/outlook-spotlight/2023년-바카라-사이트-추천-실시간-에볼루션-바카라사이트-순위-top15-news-334941]바카라사이트[/url]
Cambodia's Sihanoukville state has attracted a lot of Chinese capital in recent years to create hotel complexes, some of which are likely to turn into casino resorts.](https://www.geogebra.org/resource/f8ut5vrg/2Ez4yFOARM3L4kVF/material-f8ut5vrg.png)