HONG KONG, Feb. 19 /Xinhua-PRNewswire-FirstCall/ -- A-Max Holdings Limited
announced on November 8, 2005 an agreement to acquire an additional 30%
interest in Greek Mythology (Macau) Entertainment Group Corporation Limited
("Greek Mythology") for a consideration of HK$2,056,572,380. A-Max's stake in
Greek Mythology would be increased to 49.9% after the transaction. A special
general meeting for A-Max's shareholders will be held on March 13, 2006 to
vote on the transaction.
Greek Mythology mainly engages in gaming and entertainment businesses in
Macau and manages a 160,000-square-foot casino. The consideration for this
transaction has been determined with reference to the leading position,
well-established brand, business potential and growth prospects of Greek
Mythology. Greek Mythology was incorporated on September 13, 2004 and
commenced business on December 23, 2004. According to its audited accounts
for the period from the date of its incorporation to November 30, 2005, the
turnover, the EBITDA and the net profit attributable to shareholders were
approximately HK$624.7 million, HK$389.1 million and HK$317.7 million,
respectively.
Greek Mythology Casino now has up to 228 gaming tables and about 100 slot
machines. It saw significant growth in traffic since its opening to over
30,000 visitors daily by the end of the second quarter of 2005. The casino's
business development plan envisages further expansion up to 500 gaming tables
on an area of 300,000 square feet in the second phase, and a new 38-floor
hotel wing will be built to house another 500 gaming tables in the third
phase. After completion of the three phases, there will be up to 1,000 gaming
tables in total. The construction of the new hotel wing commenced at the end
of December 2005.
About A-Max Holdings
A-Max Holdings Limited (HKEx: 959) is a company listed on the main board
of the Stock Exchange of Hong Kong. In November 2004, the Group initiated
investments in the entertainment sector of Macau through an interest in Greek
Mythology (Macau) Entertainment Group Corporation Limited. After the
completion of the acquisition, A-Max will be interested in 49.9% in Greek
Mythology.
Contact:
t6.communications limited
Angus Ho
Tel: +852-2511-8388
Fax: +852-2511-8238
Email: angusho@t6pr.com
SOURCE A-Max Holdings Limited
 back to top
CONTACT:
Angus Ho of t6.communications limited for
A-Max, +852-2511-8388, or fax, +852-2511-8238, or
angusho@t6pr.com
|
