Thursday, August 11, 2022

Paradise enters supply accord with Jay Chun’s brother-in-law


Paradise Entertainment said it has entered into a supply agreement for next year, worth a maximum of HK$40 million, with Chairman Jay Chun’s brother-in-law.

In a statement to the Hong Kong Stock Exchange, the company said the accord with “Mr Feng” will run from Jan. 1st next year.

Feng and his companies will sell and distribute electronic gaming products in the U.S., Canada, Australia and elsewhere on a non-exclusive basis.

The company said the supply of products will be based on normal commercial terms and will be priced at an 8 to 10 percent discount from the group’s suggested retail prices. It said the terms will be no less favourable to the group than those offered by third parties.

“The board believes that sale of the products to the buyers will raise the profile of our products, enhance our products’ penetration into overseas markets and generate additional revenue for the group,” it said.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

3rd party / Cookies
Show settings
Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief