Kings Knight Capital, which is backed by a Taiwan businessman with experience in Macau’s VIP sector, has offered to buy Australia’s Lasseters Corp., with the aim of finding new business opportunities for the company in Cambodia.
Lasseters is listed on the Australian Stock Exchange, but has been suspended from trading since 2008.
In a stock exchange filing, Lasseters said British Virgin Islands-based Kings Knight has agreed to pay $0.00524976 in cash for each Lasseters share.
Kings Knight owner Tsai Ming Hsien has more than 15 years of experience in Macau, including dealings with the Four Seasons, MGM and the Sands Cotai Strip casinos.
It says the purpose for the bid is to “enable Kings Knight to find a new business for Lasseters that will be a gambling business, initially focusing on resort and leisure-style casinos and online gaming, licensed and domiciled by the Kingdom of Cambodia.
Lasseters Interactive Gaming and Lasseters International Holdings own 71.3 percent and 2.05 percent respectively of Lasseters Corp. They have currently agreed to accept the offer in respect of 50.1 percent of outstanding shares, but may decide to increase this level further, the filing said.