Amax looking to acquire VIP room in Cambodia

Macau casino investor Amax International Holdings has announced it has entered into a Letter of Intent to obtain the operating rights to a VIP room in Cambodia.

The company did not specify which casino in Cambodia that the VIP room is located, but noted that the VIP room operates 13 baccarat tables and is owned by a PRC citizen.

Amax said the move was made in order to diversify its income stream and expand its gaming business.

Under the agreement, Amax will be required to pay a fixed monthly fee for a period of two years for the exclusive rights to operate the VIP room.

The proposed transaction is subject to further negotiation of its terms and the entering into a formal operating rights agreement on or before October 30, 2017.