Asia Entertainment & Resources Ltd. Announces Intention To List On The Hong Kong Stock Exchange
Asia Entertainment & Resources Ltd. (“AERL” or the “Company”), which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, previously announced that the Company had submitted a pre-IPO enquiry letter to the Hong Kong Stock Exchange (the “Letter”). In August 2012, the Company received a response to the Letter, in which the Hong Kong Stock Exchange provided preliminary guidance on the proposed listing application. Upon consideration of the response to the Letter, the Company today announced its intention to pursue a dual listing of its shares on the Hong Kong Stock Exchange. The Company further announced that it has entered into engagement letters with applicable professional advisors in order to complete such listing.
Based on the tentative timetable, the Company intends to file a formal listing application with the Hong Kong Stock Exchange in the first half of 2013. The success of the intended listing on the Hong Kong Stock Exchange is dependent on numerous factors relating to the market and regulatory and operational conditions, which may be beyond the Company’s control. Therefore, there is no guarantee that the listing can be completed within a specific time frame, or at all.
About Asia Entertainment & Resources Ltd.
AERL is a holding company which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, and is entitled to receive all of the profits of the VIP gaming promoters from VIP gaming rooms. AERL's VIP room gaming promoters currently participate in the promotion of four major luxury VIP gaming facilities in Macau, China, the largest gaming market in the world. One VIP gaming room is located at the top-tier 5-star hotel, the Star World Hotel & Casino in downtown Macau, and another is located in the luxury 5-star hotel, the Galaxy Macau™ Resort in Cotai, each of which is operated by Galaxy Casino, S.A. Additional VIP gaming rooms are located at the Venetian Macao-Resort-Hotel and City of Dreams Macau, both in Cotai.
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