Wednesday October 15,2014 : A NEW FORCE IN ONLINE GAMBLING?
Hong Kong company to buy Vanuatu-licensed firm for $6.2 million.
Hong Kong-based group Amax International has announced that it is to acquire 60 percent, and control, of Forenzia Enterprises, a BVI registered investment company that holds a Vanuatu online gambling license.
The agreed consideration for the purchase is $6.2 million – a discount of 14 percent against the acquisition's value, according to independent valuators.
The online gambling licence is held through Forenzia's 50 percent interest in a company titled Chartreuse, which was approved for the fifteen year licence in February 2014. The licence requires Chartreuse to pay interactive gaming tax in Vanuatu of 2.5 percent of net winnings, and carried an annual renewal fee of $50,000.
Amax has advised shareholders that it intends to use the licence to operate online gambling terminals in VIP facilities located in hotels across Vanuatu. These will be accessible only from within the island.
Initial planning includes the launch of 10 live dealer baccarat tables streaming online action to the hotel terminals in real time, with expansion according to demand.