Thursday 17th April 2008
Global Entertainment gambles on Asian investor
Global Entertainment Group, which has offices in London, Hong Kong, Shanghai and Beijing, has bought Global Gaming Leisure, an investor in the Asian gaming industry. The deal was agreed for more than £2 million, satisfied through the issue of some 127 million new ordinary shares at 1.6p each.
Following the deal, Global Entertainment now has some 424.6 million shares in issue, giving it a market capitalisation of more than £5.8 million.
Global Gaming has interests in Macau, an administrative region of China, where Global Entertainment is keen to expand.
Global Entertainment chairman and chief executive Dr Johnny Hon confirmed that this deal would help the group to take advantage of the gaming sector in Macau, one of the most rapidly growing regions for the industry.
The acquired company will become part of Global Entertainment’s gaming operations, which provide statistical risk management services.
Global Entertainment is also involved in film and television production, cinema operations and artist management.
Global Gaming made a profit of £205,000 in the year to January, according to its unaudited accounts.
Click here to read about making an acquisition in China.
Mark Dunne
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