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2007-6-5 11:10:00 a.m. HKT, XFNA
HK-listed Massive Resources in 230 mln hkd deal with Macau gaming operator
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HONG KONG (XFN-ASIA) - Massive Resources International Corp Ltd said it
has entered into a non-binding provisional agreement to acquire 80 pct of the
profits derived by Ocean Star Entertainment Co Ltd from its gaming promotion
business in Macau, for not less than 230 mln hkd.
The company's statement did not disclose other details of the agreement,
or what it involves.
It only said the profit that Massive Resources proposes to acquire
represents about 0.4 pct of the gaming turnover that Ocean Star Entertainment
generates at the VIP club or casino which it operates at Grand Waldo Hotel in
Macau.
Massive Resources said no formal agreement has been reached and
discussions between the two parties are still at a preliminary stage.
(1 usd = 7.8 hkd)
jun.concepcion@xfn.com
jc/net xfnjcc/xfnnt
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