Amax to seek international expansion as interim loss widens

Junket investor Amax International Holdings reported a wider interim loss in the six months to end September and said it was seeking international expansion opportunities to boost growth.

The group had a loss of HK$18.4 million ($2.37 million), compared with $16.10 million in the year-ago period, mostly due to the impact of higher costs. Turnover was approximately $2.44 million down from $2.53 million for the corresponding period last year.

Amax had warned in November that it expected to report a “moderately” wider loss for the period. It also said that the figures will not include a contribution from its affiliate Greek Mythology (Macau) Entertainment Group, which should have a significant impact on its results.

Amax has been in a long-running dispute with Greek Mythology and is taking legal action to try to secure access to financial information.

The company, which recently acquired an online gaming license in Vanuatu, said it plans to branch out further from its investments in Macau.

“The company’s strategy is to develop itself into an investment holding company with

multiple stable income sources. Looking forward, a major focus of the group will

be to explore M&A opportunities worldwide.”

 

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