Land casino investor buys mobile app company

News from Asia breaking over the weekend is that land casino investor Amax Holdings, which owns about a quarter of the equity in Macau’s Greek Mythology Casino, has bought general mobile apps developer Mobile Games Apps for a a total consideration of $27 million in shares from owners Patrick Wah Poon and Ng Wing Ki Kristy.

Amax says in a Hong Kong stock exchange advisory that it plans to benefit from the burgeoning mobile market by acquiring Mobile Games Apps, which offers around 30 mobile game apps in the leisure and entertainment sector.

“Given the rapid growth of the global mobile gaming market, the board sees huge potential on the mobile games business. Upon completion, the company will be able to leverage on its expertise in the gaming and entertainment-related businesses to diversify the business of the company to capture the enormous potentials under the mobile age,” the advisory announced, revealing that it plans to launch the app products through reputable and established third party digital distributors.

Amax obtained a Vanuatu online gambling licence in May last year.