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2007-5-11 11:10:00 a.m. HKT, XFNA
Hong Kong-listed Massive Resources buys 100 mln hkd stake in Macau gaming firm
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HONG KONG (XFN-ASIA) - Massive Resources International Corp Ltd said it
has bought a 100 mln hkd for a stake in a gaming business in Macau.
The company said in a statement. that it bought a 20 pct stake in Good
Omen Enterprises Ltd, which owns 0.4 pct of the rolling turnover or the
revenue generated by Hoi Seng Sociedade Unipessoal.
Hoi Seng Sociedade Unipessoal is the junket representative for clients of
the Neptuno VIP club at the Galaxy Casino, Star World Hotel.
Massive Resources acquired the stake by taking over Koppert International
Ltd.
It also said it has been granted an option to sell back the stake to the
vendor, Lao Sio Meng, for 70 mln hkd including interest.
The rolling turnover over the next six months is estimated to be no more
than 6 bln hkd.
(1 usd = 7.8 hkd)
leonora.walet@xfn.com
lw/kmq xfnlwm/xfnkm
MMMM
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