Scientific Game

Philippines, Macau casino investor to join board of The Stars Group

Thursday, 11 January 2018 06:12
Share
Visit us

Canadian-based online poker giant The Stars Group, operator of global poker sites PokerStars and Full Tilt, has entered into an agreement with substantial shareholder Tang Hao that will see Macau and Philippines casino investor Melvin Yanmin Zhang become an observer member of the board.

Hao, who currently holds 26,455,200 shares in The Stars Group through his affiliated entity Discovery Key Investments Limited, representing approximately 17.9% of common shares, has named Zhang as a nominee with the latter to join the board as a director once the relevant licenses and approvals are granted by gaming authorities.

Zhang is best known as an Executive Director of Hong Kong-listed International Entertainment Corp, which owns and operates Hyatt Hotel and Casino in Manila. It also previously held a 40% stake in Arc of Triumph Development Company, owner of L’Arc Macau.

As part of the agreement, Tang will continue to hold the right to nominate a director to the board of directors until either the day following The Stars Group’s 2020 annual general meeting or prior should his stake in the company fall below 10%. Tang is forbidden from increasing his stake over 20% until the 2020 AGM unless through a negotiated transaction approved by The Stars Group board of directors, or by way of a formal takeover bid for all of the company’s outstanding common shares.

In a statement, The Stars Group Chairman Dave Gadhia said, “We welcome Tang Hao’s significant investment in The Stars Group as one of its largest shareholders, and look forward to Melvin Zhang’s contributions at the board as we continue our focus on expanding into new markets.”

 

What's new

Two men arrested for theft of HK$48 million of Wynn Macau gaming chips

Two men arrested for theft of HK$48 million of Wynn Macau gaming chips Two men alleged to be involved in the theft of HK$48 million worth of casino chips from a VIP room at Wynn Macau last week have been arrested. Macau’s Judiciary Police revealed on Friday that they had taken two men into custody including the 49-year-old Wynn casino dealer, identified only as Lei,... Sunday, 21 January 2018 10:49

TGG signs deal with two Cambodian casinos

TGG signs deal with two Cambodian casinos TGG Takara Gaming Group, the world’s first open-source gaming platform, has announced that it is entering the Southeast Asia Market with two leading local casino groups in Southeast Asia – Golden Crown and Superrich the Best Casino. TGG is an open-source casino gaming platform bringing globa... Friday, 19 January 2018 07:06

Asian casino investor Amax to explore blockchain technology and cryptocurrency

Asian casino investor Amax to explore blockchain technology and cryptocurrency Hong Kong-listed casino investor Amax International Holdings Ltd has announced plans to establish a blockchain technology arm in an effort to “diversify its business operations, broaden its income sources and explore investment and or development opportunities.” In a filing to the Hong Kong Sto... Friday, 19 January 2018 07:01

Macau casino kingpins on the rise in Forbes 2018 Hong Kong Rich List

Macau casino kingpins on the rise in Forbes 2018 Hong Kong Rich List Galaxy Entertainment Group Chairman Lui Che Woo, Melco Resorts Chairman and CEO Lawrence Ho and MGM China Co-Chairperson and Executive Director Pansy Ho are among several Macau casino powerbrokers to see their stocks rise in 2017 according to this year’s Forbes’ Hong Kong Rich List Lui was the ... Friday, 19 January 2018 06:36

Current Issue

VIDEO: Inside Asian Gaming to host Asian Gaming Power 50 Gala Dinner

VIDEO: Inside Asian Gaming to host Asian Gaming Power 50 Gala Dinner Inside Asian Gaming will host the inaugural Asian Gaming Power 50 Gala Dinner on 23 November 2018. Friday, 12 January 2018 06:47

ENTER THE DRAGON2

ENTER THE DRAGON2 NagaWorld’s expansion lifts the Mekong region’s largest integrated resort and Phnom Penh into the top tier of regional destinations, with an increasing focus on Chinese tourists. By Muhammad Cohen | Editor at large in Phnom Penh   When I first visited NagaWorld six years ago, the casino hot... Friday, 29 December 2017 03:00

Strength in numbers

Strength in numbers Macau’s VIP segment has been historically volatile, but has surprised with the sheer strength of its resurgence in 2017. What can we expect from VIP in 2018? By Ben Blaschke   If the jury was out on the sustainability of Macau VIP’s resurgence for much of 2017, it’s not anymore. Having cop... Friday, 29 December 2017 02:54

Data driven

Data driven From the traditional betting habits of Europe to the expanses of Asia, data analytics firm BettorLogic is showing how the correct use of data can provide benefits to sportsbook operators and customers alike. By Ben Blaschke   One of the enormous challenges facing sportsbook operators today is st... Friday, 29 December 2017 02:46