Amax International, a Macau junket investor, says that its online operation in Vanuatu now accounts for almost 58 percent of its total revenue.
The Hong Kong-listed company said in its annual ESG report that it began the business last year after receiving approval from the Director of Customs and Inland Revenue of Vanuatu on 15 May 2016.
It said it has appointed an operator to run the business, which provides services aimed at high-end players originating mainly from Hong Kong and Mainland China.
“Despite facing harsher market conditions and operational difficulties, Amax continues to explore new revenue sources while consolidating our existing business and reinforcing our position in the gaming and entertainment industry, thus maximising long-term value for our stakeholders,” it said.
Amax also said it has bought 30 mobile game apps over the reporting year to capitalize on the increasing use and popularity of mobile devices and has sold its Le Rainbow Worldwide unit, which provided lottery related services to Guangxi Welfare Lottery.