Dynam extends MOU with IGG on Macau gaming machine accord

Dynam Japan Holdings said it has extended a memorandum of understanding on the development of pachinko machines and other electronic games with IGG Singapore for a further six months. The two companies said in November last year that they will work together to develop new generation machines for the Macau casino market. The MOU will expire on November 25 unless it’s extended again. Dynam said the company has finished making a prototype of the next generation pachinko machine and is now preparing an application for the approval of the Gaming Inspection and Coordination Bureau and other competent authorities. Dynam said the extension of the MOU was needed because further testing and preparatory works need to be undertaken. It also said that there’s no guarantee the cooperation will proceed. The accord is IGG’s first foray into online real money casino games. IGG is a Singapore-based online games developer. Dynam is the second-largest pachinko hall operator in Japan based on the total value of pachinko balls and pachislot tokens rented in the year of 2013 and the largest in terms of number of halls. Dynam has mid-to-long term ambitions to enter Japan’s casino market once it’s legalized. The company last year increased its stake in Macau Legend, saying this was a way for the company to learn more about the casino market ahead of any possible expansion in Japan. “The board is of the view that further strengthening the business relation with MLD through the said additional investment would turn out to be beneficial for the group to enter into the casino business,” it said in a regulatory filing to the Hong Kong Stock Exchange at the time of the $50 million investment.