Amax says Vanuatu interactive gaming delayed

Dec 26, 2014 Newsdesk Industry Talk, Latest News, Top of the deck  

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Hong Kong-listed gaming investor Amax International Holdings Ltd says it has delayed by up to three months the launch of an interactive betting operation – likely to include live VIP play – in the Pacific island republic of Vanuatu (pictured).

Amax had announced in mid-October that it had completed the purchase of a 60 percent stake in Forenzia Enterprises Ltd, a firm that has access to an online gaming licence for Vanuatu. The deal was closed for a total consideration of HKD48.1 million (US$6.2 million).

Amax said in a filing on Tuesday that the local regulator had agreed to grant the target company an extension on the deadline for the start date of gaming operations – from December 31 2014, to March 31, 2015.

Amax added that “additional time is required for the company to complete the installation of the software as well as staff recruitment and training…”

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