amax-deal-could-transform-vip-gambling-in-macau

A-Max deal could transform VIP gambling in Macau

The $385 million placement will almost triple the casino operator's outstanding market cap as the company enters the junket business.
Casino operator A-max Holdings yesterday kicked off the roadshow for a placement of up to HK$3 billion $385 million worth of new shares that has the potential of transforming the entire business model for the VIP segment of the Macau gaming sector.

The money raised by A-Max will be lent to a company called Ace High which, in turn, will provide it to junket operator AMA, which will use it to provide daily liquidity to nine collaborators that have agreed to bring their high-roller VIP clients exclusively to the Crown Macau casino. The Crown is owned and operated by Melco PBL Entertainment Macau, which holds one of MacauÆs six gaming licenses or...
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