Oct 29, 2019
Amax in deal with chairman for table op in Sihanoukville

Hong Kong-listed gaming services company Amax International Holdings Ltd says it has reached an agreement with a company controlled by Amax International’s chairman and chief executive Ng Man Sun to take over a gaming table business in a casino located in Sihanoukville, Cambodia.

Amax International said in a filing on Monday that the gaming table business involved a total of four gaming tables located in the mass gaming area of the Sunshine Bay Hotel. The casino at that property commenced operations earlier this month and his operated by Mr Ng’s Lion King Entertainment Co Ltd, according to Amax International’s filing.

Mr Ng controls a stake of 27.74 percent in Amax International.

The deal between Amax and Lion King includes two parts: a lease agreement for the four tables, ending on September 30, 2020 at a monthly rental fee of HKD1.2 million (US$153,057); and an assignment agreement for the gaming table business rights for a period of five years at a consideration of HKD120 million. Amax International is to settle the consideration via a promissory note and by disposing of its shares in a company controlling a licence to conduct interactive gaming business in Vanuatu, in favour of Lion King.

“The company sees attractive potential in the gaming market in Shihanoukville… and would like to commence its business operation in the casino as soon as practicable,” Amax International said in its Monday filing.

Amax International said in October last year it would be providing “technical and pre-opening services” regarding the casino project in Sihanoukville.

The Cambodian province of Sihanoukville has in recent years been attracting much Chinese capital for creation of hotel complexes, with some of them possibly to be turned into casino resorts.
https://www.ggrasia.com/amax-in-deal-wi ... noukville/

Interestingly enough, there is previous news of Sunshine Bay Hotel and Casino, Sihanoukville, in CEO News.

Re: Raw Sewage problem Sihanoukville

Post by CEOCambodiaNews » Sat Apr 13, 2019 9:11 am
Sihanoukville, Cambodia News: The environmental group, Mother Nature, is calling on government ministers to double-check their information on the current state of the beaches of Sihanoukville, after it was announced on social media that all the beaches are now clean.
Local activists report that outside the Sunshine Bay Hotel and Casino, at the south end of Independence Beach, sewage and waste water continues to flow directly into the sea. Drone footage shows a stream of dark liquid emptying on to the beach, and reports from the site say that it has a particularly foul-smelling odor. There is the same problem on the neighboring Sokha Beach. Unfortunately this means that both beaches are unpleasant and it is not advisable to swim in the water.

post329045.html?hilit=sunshine%20bay#p329045

And not long after the report that accused Sunshine Bay Hotel and Casino of evacuating sewage waste directly into the sea, a fire broke out on the 30th floor of the massive tower block.
Fire at 30FL Sunshine Bay Hotel in Sihanoukville

Post by CEOCambodiaNews » Wed Apr 24, 2019 2:45 pm

Sihanoukville, Cambodia News: On April 24, 2019, at 12 pm, there was fire on the 30th-floor building of Sunshine Hotel in and Casino on Independence beach in Sihanoukville. Police and fire trucks arrived at the scene to extinguish the fire before it spread any further.

newsworthy/fire-sunshine-bay-hotel-siha ... 28451.html