Tag Archives: hong kong

The Hong Kong Jockey Club (HKJC) will be taxed a further HK$2.4 billion (€280m) per year for the next five years, due to new fiscal measures imposed by the Government of Hong Kong.    This week’s budget statement by HK Financial Secretary Paul Chen announced the special measure that a ‘temporary betting duty’ will be applied to HKJC wagers from fiscal …

Web3 engineering studio Hxro has been recruited to build a parimutuel, fixed odds,  standalone and free-to-play (FTP)  games suite for Asian gambling business network NYCE International.  The partnership will be based on a revenue share model that will see Hxro’s range of risk-based products and applications promoted to NYCE business partners. Hong Kong-based NYCE represents a “select number of intelligent, …

The board of the Hong Kong Jockey Club (HKJC) will be led by the new governance duo of Michael Lee as Chairman alongside Eric Li Ka Cheung serving as Deputy Chairman.  The appointment follows the restructuring of HKJC Board of Stewards, which saw members elect Lee as new Chairman to lead the corporate oversight of Hong Kong’s monopoly operator for …

The board of Playtech Plc has this morning announced that Hong Kong fund TTB Partners has been granted an extension period to submit a deal to acquire the FTSE250 technology group.  TTB Partners’ previous deal submission deadline was due by 17 June, a date that has been extended to Friday 15 July, as Playtech governance informed investors that ‘discussions between …

The board of Playtech Plc has stated confidence in achieving the group’s full-year 2022 commercial and corporate objectives following ‘an excellent start to year trading’.  Issuing a snapshot trading update, the FTSE250 gaming technology group revealed that positive Q1 trading had generated unaudited EBITDA results of more than €100 million, with the ‘run rate continuing through to April’.  Strong EBITDA …

The Hong Kong Jockey Club has revealed that it is going to offer a ‘record total’ prize money and incentives of HK$1.62 billion (approximately £158.6 million) across the 2022/23 racing season. The overall purse will be bolstered by a record single-season increase of 11.5% (HK$167.2 million) and feature a range of innovations, including increases in prize money across middle-distance races …

Gopher Investments has withdrawn from its pursuit to acquire Playtech Plc, confirming that it will propose no counteroffer to investors of the FTSE250 gambling technology group. The Hong Kong investment vehicle that maintains a 5% shareholding in Playtech, had previously stated its intent to table a counteroffer against the £2.7 billion deal put forward by ASX games manufacturer Aristocrat Leisure. …

The board of Playtech Plc has moved to confirm media speculation that it has been approached by a third suitor seeking to acquire the FTSE250 gambling technology group. This morning, Playtech governance confirmed that on 5 November, a ‘preliminary approach’ was made by JKO Play Limited, a consortium led by former F-1 team owner Eddie Jordan and Scientific Games executive …

Playtech Plc has responded to media speculation regarding a counterbid that existing shareholder Gopher Investments will table to take control of the FTSE250 gambling technology group. This Sunday, Sky News reported that Gopher – a Hong Kong-based investment vehicle that maintains a 5% shareholding in Playtech – will launch an expected £3 billion counteroffer, triggering a bidding war against ASX …