Hong Kong Stock Exchange-listed conglomerate Far East Consortium has announced its plans to spin-off and separately list its Czech gaming business and German and Austrian hotel business.
The group informed the stock exchange of its intention to spin-off the segments and notes that the bourse ‘has agreed’, however the details of the potential spin-off ‘have yet to be finalized’.
The move would encompass the group’s three casinos and ancillary hotel in Czechia alongside three hotels in Germany and one hotel in Austria.
The group’s Czech casinos are run under the Palasino brand, generating HK$147 million ($18.76 million) in its first fiscal half year. It operates some 492 slot machines at the properties and 65 gaming tables. The group is also planning to take the Palasino brand online in Malta, offering ‘top RNG slots, casino type games as well as Live Game streaming to various markets’. The debut is set for ‘later this year’. The group received its Type 1 license in Malta in November of 2022.
Far East Consortium’s other primary gaming investment encompasses the Queen’s Wharf Brisbane project, in Australia.