Asia Entertainment & Resources Ltd. (“AERL”) (NASDAQ: AERL), which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, today announced that it has completed the acquisition of 100% of the profit interest of the VIP gaming room at Level 1 of Le Royal Arc Casino located in NAPE, Downtown Macau. The VIP gaming room has six tables and is operated under the Sociedade de Jogos de Macau S.A.’s concession. With the completion of this acquisition AERL will operate 40 tables in five VIP rooms with four concessionaires in the Macau market.
“The addition of this VIP gaming room will enhance our ability to serve our existing customers, and by combining our operations and network of agents with that of the VIP gaming room at Level 1 of Le Royal Arc Casino, we can further expand our presence in the Macau VIP gaming market,” said AERL Chairman Lam.
About Asia Entertainment & Resources Ltd.
Asia Entertainment & Resources Ltd. 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 Sands Cotai Central and City of Dreams Macau, both in Cotai.Forward-Looking Statements This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of AERL's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements.
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