Casino investor Amax International Holdings Limited has announced that it has received a letter of approval from the regulator regarding commencement of the group’s gaming business in the Republic of Vanuatu.
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.”
In October 2014, Amax diversified its core gaming business by entering into an agreement for the acquisition of 60 percent of Forenzia Enterprises Limited, which is principally engaged in the gaming business in Vanuatu and holds a 15-year interactive gaming license.
Vanuatu is a popular destination for tourists from Australia, New Zealand, New Caledonia, Europe, North America and Japan, said Amax in a press release.
“The Group has full confidence in the high potential of Vanuatu as the next gaming hotspot, and is well-poised to benefit from pent-up demand by establishing gaming operations in the Republic.”