Asia
Amax to Sell its Mobile Games Apps Business to Galaxy World

Amax International Holdings Ltd, the Hong Kong based investment holding company, has agreed to sell its Mobile Games Apps business to Galaxy World Co. Ltd, the Cambodia based casino operator. Amax will sell the Mobile Games Apps for a total consideration of HK$30 million with the group stating it does not expect to record any gain or loss on the disposal.
“After reviewing business performance of the Group’s existing business segments, the company considered focusing more resources on the Group’s gaming businesses and IT Solutions Business. On the other hand, the Group is sourcing funds to proceed with the cash flow requirement under the settlement deed dated 29 December 2017,” Amax explained about the reasons for the transaction.
“Therefore, the company is of the view that the disposal will strengthen the Group’s cash position to (i) meet the cash flow requirement under the settlement deed when materialized; (ii) retain resources to develop the Group’s gaming businesses and IT Solutions Business; and (iii) for general working capital to maintain daily operation of the Group,” Amax added.
Amax currently operates 13 VIP baccarat tables at a casino in Poipet, Cambodia, and is providing pre-opening services for a new casino project in Sihanoukville. It also holds an interactive gaming license in Vanuatu.
-
Interviews7 days ago
Exploring Uncrossable Rush with Evoplay’s Ivan Kravchuk and SlotCatalog’s Mickey Winitsky
-
Asia6 days ago
International Chess Day: How India’s ancient game is evolving into a rising force in esports
-
Latest News6 days ago
Clickobet: Innovative Gaming Solutions for Modern Betting Shops
-
Asia6 days ago
Out! SPRIBE announces Indian cricket icon Harbhajan Singh as Aviator brand ambassador
-
Asia7 days ago
Think Tank Advocata Questions Independence and Integrity of Proposed Gaming Regulator in Sri Lanka
-
Baltics7 days ago
HIPTHER Joins Forces with Ace Alliance as Strategic Media Partner – Kicking Off with Ace Alliance Riga 2025
-
Latest News7 days ago
Betclic announces four strategic sports partnerships
-
Latest News7 days ago
Cashin’ Joker multiplies mayhem on the reels