Melco PBL Entertainment’s (MPE) new gaming promotion partner Ama International Limited is expected to begin operating mid-way through this month, a statement by the company said yesterday.

The Macau government-licensed promoter has agreements with nine junket operators to deliver VIP gamers to MPE’s Altira Macau casino and fund their chip purchases.

The success of the contract was subject to Ama’s ability to source funding from business partner, A-Max Holdings Limited, an earlier statement from MPE said.

A-Max has reportedly secured HKD2 billion(US$257 million) in a share-placement on the Hong Kong stock exchange. The company was reportedly after a target of HKD3 billion.

The capital will be used to fund the junket operators chip purchases from Crown Macau and provide commission payments on a daily basis.

The junket operators covered in the deal reportedly control more than 45 percent of the Macau VIP market.

The agreement has a three year term and is automatically renewed under the same terms for an additional two years, unless it is cancelled.

In total the casino has more than 20 agreements with gaming promoters in Macau.

Altira Macau has also completed a reconfiguration of the casino to substantially reduce mass market table game and gaming machine capacity and lift the number of VIP gaming tables, the statement said.

Last week Melco PBL Entertainment’s CEO, Lawrence Ho, told the Macau Daily Times the number of VIP gaming tables would be increased to 187, leaving a maximum of 60 for the mass market.

On the news yesterday, shares of MPE’s major stake holder, Melco international Development Ltd, dropped 3.6 percent to HKD11.76 on the Hong Kong exchange.

Courtesy. Macau Daily Times

Originally posted 2007-12-08 07:27:10. Republished by Blog Post Promoter

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