Macau firm bets big on Cambodia bookmaker

Cambo Six holds a license granted by the local government to operate an exclusive bookmaking business in Cambodia for football matches. The license is valid for four years commencing from February 1, 2007, to January 31, 2011.

Golden Resorts will pay us$ 8 million in cash for the acquisition, while the remaining us$ 10.7 million will be satisfied by issuing shares at us$ 0.07 per share. The company’s stock was suspended from trading Monday, pending the possible acquisition announcement, and will resume trading today. The shares last traded at us$ 0.08. The final terms of the formal agreement is expected to be entered into by May 31, the company said.

Pollyanna Chu Yuet-wah, CEO of Golden Resorts, said the acquisition will put the company’s investment plan in the Asia-Pacific region into practice. "The economy in Asia is booming, thus we are optimistic that the gaming industry in the region has a promising outlook," Chu said.

Golden Resorts owns and operates two four-star hotels with gaming facilities, namely the Casa Real Hotel and Grandview Hotel in Macau. The facilities offer a combined 806 hotel rooms, 124 gaming tables, 11 VIP rooms and 77 slot machines.