amax-secures-funds-for-macau-gaming-move

A-Max secures funds for Macau gaming move

The downsized $257 million placement is sold at the floor price of HK$0.13.
Casino operator A-Max Holdings has completed the HK$2 billion $257 million fund raising exercise that will mark the starting point for its move into the VIP segment of MacauÆs fast-growing gaming sector.

The extended deal is of huge significance for A-Max as it will transform the former manufacturer of liquid crystal displays from being a largely passive investor in the Greek Mythology casino into the single largest junket operator in Macau with a 46% share of the VIP market. The actual junket operations will be carried out by an independent company called AMA, but A-Max will gain access to 80% of the revenues generated by this entity through a profit transfer agreement. Industry...
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