International Entertainment in talks to take over Macau junket

International Entertainment Corp is in talks to pay up to 7.35 billion Hong Kong dollars ($947.9 million) for a 70 percent stake in a company linked to Suncity Group, which operates 17 junkets in Macau. International Entertainment is controlled by the family of billionaire Cheng Yu-tung. International Entertainment said the acquisition will enable it to “broaden its range of investments,” and it may need to raise funds by placement of shares or convertible securities to finance the deal.