Amax International Holdings on Monday announced that it has conditionally agreed to take up a lease of four gaming tables at a newly-opened casino in Sihanoukville, Cambodia.
The agreement sees Victor Mind Global, a wholly-owned subsidiary of Amax International, to lease four mass-market gaming tables (mainly baccarat) from Lion King Entertainment Company, wholly-owned by Amax chairman Ng Man Sun, which owns the gaming license for the casino of Sunshine Bay Hotel.
Sunshine Bay Hotel is an 8,100 square meter hotel-casino in Sihanoukville which opened on Oct 9, 2019.
According to Amax’s filing, the casino located on the fourth and fifth floors of the Sunshine Bay Hotel. Amax will be allowed to operate the gaming tables for a period of five years, and be entitled to 100% house win winnings, whilst being responsible for 100% house losses and bear all staff costs and tax costs associated with operating the table games.
Amax will be required to pay a consideration of HK$120 million to operate the gaming tables.