Lawrence Hofirm Sells Technology To Tigre de Cristal Casino

The Russian casino venue linked to gaming entrepreneur Lawrence Hoyarung will get additional gaming equipment from the company linked to Ho. An event called Tigred Crystal in the Russian Far East was officially held on Nov. 11.

Under the additional agreement, casino money maker Dolphin Products will sell equipment worth US$198,648 to a company called Oriental Regent. The latter company owns a full stake in the gaming project, located in the Maritime Unified Entertainment Zone near Vladivostok.

In April, the Tigred Crystal venue announced that it would receive a casino call worth $1.29 million from Dolphin Products.

Dolphin Products is an indirect subsidiary of Entertainment Gaming Asia Inc., a Nasdaq-listed company with approximately 64.84% of its outstanding shares held by another company controlled by Mr. Ho, Melco International Development Ltd.

Summit Ascent Holdings Ltd, a Hong Kong-listed company managed by Mr Ho, also owns a 60% stake in Oriental Rent. The latter holds a full stake in G1 Entertainment LLC, which holds the game license for Tigre de Cristal.

Commenting on Tigred Crystal’s recent casino equipment deal, a Friday filing from Summit Ascension said: “The directors … have the view that the terms of the additional agreement are less favorable to Oriental Regents than they would get from an independent third party.”

Melco Crown Entertainment, which operates casinos in Macau and the Philippines, said in December last year it would purchase $29 million worth of gaming equipment from Dolphin Products under a three-year deal. 릴게임

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