Amax International Holdings Ltd (HKEx:959) announced this week that on May 15 they had been given in principle approval to begin gaming operations from the Republic of Vanuatu.
The release to the Hong Kong Stock Exchange said in part, “Chartreuse, an indirect wholly-owned subsidiary of the Target Company [Forenzia Enterprises Ltd] and which holds the Gaming License, received a letter from the Regulator giving in principle approval to Chartreuse to the commencement of the operation of Vanuatu Gaming Business.”
The announcement was an update to several other announcements from the Macau junket operator, including an October update informing that they had completed the purchase of a 60% stake in Forenzia. The Target Company has a 15 year-long interactive gaming license in Vanuatu. The operator plans to stream live dealer games from Vanuatu’s capital city of Port Vila.
In a release to ACN Newswire, Mr. Ng Man Sun, Chairman of Amax, said, “We are excited to receive the regulator’s approval as this will mark a milestone in expanding our gaming business outside of Macau and towards the international market. In view of the poor industry sentiment in Macau’s gaming market, as well as the rapid development of the interactive gaming sector in recent years, this new project will provide us with a golden opportunity to diversify our business and thereby broaden our income sources,” said the Chairman.