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Northern Cyprus – Macau junket operator buys into Cypriot casino

By - 2 July 2013

Hong Kong-listed Amax Holdings is looking to diversify its junket and casino operation by buying into a casino development in the Turkish Republic of Northern Cyprus.

The Macau junket group has signed a non-binding letter of intent to buy a 51per cent stake in Samoa-born Southern Ruby, who has the rights to build and operate a casino at the Lara Park Hotel in Girne, Northern Cyprus, and take a 10 per cent share in the hotel.

The move is further evidence of the growing trend for Macau’s junket operators to branch out into their own operations.

Ng Man Sun, Chairman and Chief Executive Officer of Amax said: “The proposed acquisition is aimed to diversify our income stream and to expand our gaming business. We are positive about the gaming industry in TRNC. Going forward, we will continue to seek more opportunities to further develop our business.”
Amax Holdings is an investment holdings company focused on the gaming business. It is positioned for high-end leisure &and entertainment with its core business in gaming and lottery. Amax owns 49.9 per cent of Greek Mythology Casino, located in Tai Pa, Macau and holds interest in gaming operations such as gaming tables and slots. It recently completed a majority interest in a lottery related business located in Guangxi, China, representing a major step in Amax’s foray into China’s fast-growing lottery business.

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