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APE entered into the Operating Lease Agreement in Cebu Casino

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Voluntary Announcement Commencement of New Business Activity
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Asia Pioneer Entertainment Holdings Limited is pleased to announce that its wholly-owned subsidiary, Asia Pioneer Entertainment Limited (“APE”) entered into an Operating Lease Agreement (“Agreement”) with Glimex Inc. (“Glimex”) on 31 January 2020, to lease electronic gaming equipment (“EGEs” or “Leased Equipment”) to Glimex, for use at Palace Casino located at JPark Island Resort in Cebu the Philippines, for a term of 24 months.

Pursuant to the Agreement, APE will place up to 62 units of Electronic Gaming Equipment (EGE) into JPark Palace Casino on an operating lease basis and will receive a variable rental income through Glimex of equivalent 22.5% of the Net Performance of each Leased EGE on a quarterly basis. This Agreement is in addition to the existing 24 units of EGE that APE supplied under Finance Lease agreement with Glimex in Dec 2018 bringing the total number of 86 units of EGE supplied to Palace Casino.

Glimex is a company duly organised and existing under and by virtue of the laws of the Philippines and is principally engaged in the business of distribution of products in the power, energy and gaming sectors. Glimex is a sub-operator and has entered into an operating agreement with the operator which is the VIP tour operator concession owner of Palace Casino at Jpark Island Resort, the Philippines.

Mr. Chan, Tony Chi Lun, Chief Financial Officer and Executive Director of APE Holdings said, “As a total solutions provider of EGEs for land-based casinos in Macau as well as other regions in Asia, we are really excited to enter into this Operating Lease Agreement with Glimex, to extend our footprints in the Philippines. This is a strategic move for APE to scale our operating leasing business in Asia and we will devote ourselves to seize the opportunities generating from the demand from Glimex and the market in this country. In addition, we may further expand the operating leasing business in Macau and other countries in the South East Asia in the future.”

Mr. Arvin Gacrama, Vice President of Glimex Inc concluded“We believe the co-operation between Glimex and APE will bring new innovations for Philippine licensed land based casinos to expand their equipment financing operations. We look forward to partnering APE in more business opportunities in the Philippines gaming sector to bring innovative products and financing solutions.

 

Asia

iSoftBet signs aggregation deal with Mikadogames

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iSoftBet signs aggregation deal with Mikadogames
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iSoftBet, the leading online games supplier and content aggregator, has agreed an aggregation partnership with Japanese arcade-style slots provider, Mikadogames.

Offering an alternative to narrative-rich gameplay since it was founded in 2017, Mikadogames creates innovative games and animations inspired by Japanese anime cartoons.

The deal will see a selection of Mikadogames’ GLI certified games added to iSoftBet’s aggregation offering, including the provider’s skill-based sports titles such as The Penalty Kid and Darts Roulette and its fruit machine-inspired Pachinko slots.

Active in 20 regulated global markets, iSoftBet asserts its reputation as an industry leading supplier by providing some of the biggest operators with top performing casino games and the quickest route to market via its aggregation platform, engagement tools and services.

Denisa Csepregi, Commercial Aggregation Manager at iSoftBet, said: “We are always scanning the market for up-and-coming providers that employ unique approaches in game design, and Mikadogames do just that.

“The addition of their exclusive content to our aggregation offering is the first step in what we hope will be a great relationship with even more unique content to come.”

Keiko Tsunego, IT Manager at Mikadogames, said: “iSoftBet’s distinguished aggregation platform adds considerable value to the brand’s name and to our subsequent partnership. We are very satisfied with the agreement and look forward to seeing how our relationship materialises in the months ahead.”

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Asia

Melco Discontinues its Pursuit of Yokohama IR Development

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Melco Resorts & Entertainment has announced that it will discontinue its pursuit of an integrated resort development in the City of Yokohama. The company remains committed to Japan and will continue to explore development opportunities in the country.

Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment, said: “For the past several years, we have worked with our partners to devise a superlative, world-class IR proposal that reflects the unique characteristics and culture of Yokohama and which would put the city on the global stage of tourism. Our proposal was focused on the Asian premium segment, our devotion to quality and craftsmanship, and our dedication to creating a world-class entertainment destination. We designed this resort in a way that reflected Melco’s focus on quality, demonstrating a respectful approach to partnership, developing the most advanced protection measures in the world, and with stringent ethical business conduct during the process.

“Unfortunately, the citizens of Yokohama have decided otherwise, and the Mayoral election results give a clear verdict. The new Mayor, having campaigned on an anti-IR platform, has now closed the door on the process we engaged in with our partners. While we are disappointed, we are grateful for the friendships that we have formed throughout the process and express our sincere gratitude to the people and government of Yokohama, as well as our business and community partners, for their tremendous support.

“Melco has been working on the ground in Japan for over a decade. We firmly believe in the country’s long-term potential and remain committed to exploring opportunities to develop the world’s best integrated resort in Japan. We will be closing our Yokohama office while maintaining a representative office in Tokyo.”

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Asia

Yokohama City Cancels IR Bid Process

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The city of Yokohama has cancelled the process to apply for an integrated resort (IR) in the city, following Takeharu Yamanaka’s victory in mayoral elections.

Yamanaka was one of several anti-IR candidates. Upon becoming mayor, Yamanaka announced that the IR process would be scrapped.

Following this cancellation news, a consortium led by Genting Singapore, and also including pachinko operator Sega Sammy, said it was disappointed but had no choice but to discontinue its pursuit of the licence.

“We are surprised and disappointed by the unexpected turn of events leading to the city’s decision to cancel the Yokohama IR Bid, as the board of directors and management of the company, together with our consortium partners and supporting partners have devoted considerable time and our best efforts to prepare and submit a compelling bid and proposed a significant investment that will benefit the city of Yokohama and its community, and at the same time make Yokohama a world-class tourism destination,” Genting Singapore’s board said.

“The Company would like to thank all parties who have supported and contributed to our Yokohama IR Bid and we extend our best wishes to Yokohama City.”

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