Success Universe, whose interests range from the lottery in mainland China to Ponte 16, an integrated casino-entertainment resort located in Macau, said it has sold off a 10 percent stake in Canada’s Jade Travel Group for C$332,500 ($267,894).
The company is selling the stake to 1034635 B.C. Ltd, a British Columbia-based company, which already has a 15 percent holding in the travel business.
Success Universe said it’s selling down its holding because directors see the disposal as a good opportunity to realise the company’s investment and to enhance the working capital of the group.
After the sale, which is scheduled for completion on June 15th, Success Universe will hold a 75 percent stake in Jade Travel.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
The Yokohama City Council has begun its deliberations on whether or not to hold a popular referendum on IR development. Despite gaining more than three times the needed number of resident signatures, Mayor Fumiko Hayashi has asked that the referendum be rejected.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.