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LAND CASINO INVESTOR BUYS MOBILE APP COMPANY
20th March, 2017 at 07:18:24
Is Amax planning on expanding its land asset?
News from Asia breaking over the weekend is that land casino investor Amax Holdings, which owns about a quarter of the equity in Macau's Greek Mythology Casino, has bought general mobile apps developer Mobile Games Apps for a a total consideration of $27 million in shares from owners Patrick Wah Poon and Ng Wing Ki Kristy.
Amax says in a Hong Kong stock exchange advisory that it plans to benefit from the burgeoning mobile market by acquiring Mobile Games Apps, which offers around 30 mobile game apps in the leisure and entertainment sector.
"Given the rapid growth of the global mobile gaming market, the board sees huge potential on the mobile games business. Upon completion, the company will be able to leverage on its expertise in the gaming and entertainment-related businesses to diversify the business of the company to capture the enormous potentials under the mobile age," the advisory announced, revealing that it plans to launch the app products through reputable and established third party digital distributors.
Amax obtained a Vanuatu online gambling licence in May last year.
Related News Tags: China, Mobile Gambling, Greece
BLITZ ON THE WAY FOR CHINESE ONLINE GAMBLING
29th March, 2017 at 08:27:22
Government plans to crack down hard on online casinos and foreign land operators targeting Chinese high rollers.
NEVADA GAMBLING REVENUES FOR FEBRUARY RELEASED
28th March, 2017 at 19:47:54
Not the best February - 4.5 percent down year-on-year.
OURGAME LOOKS TO GLOBAL EXPANSION
27th March, 2017 at 13:46:09
Particularly within social casino and eSports sectors.
MARATHONBET LAUNCH MOBILE CASINO CHANNEL FOR UK MARKET
22nd March, 2017 at 12:01:49
Caters to ever increasing play on the go.
CHINA'S TIGHTER CONTROLS ON CAPITAL RESULT IN MAJOR DROP IN OUTGOING INVESTMENT
21st March, 2017 at 11:24:11
Foreign companies likely to feel the impact as Q1-2017 sees a significant 74 percent decline in outgoing investment capital.