Amax reports millionaire loss

The Macau stakeholder posted the financial results ending September 2016.

Macau.- The stakeholder from Macau’s shuttered Greek Mythology Casino located in the Beijing Imperial Palace Hotel, Amax International Holdings Limited, posted a US$2 million loss in the six month period that ended in September from this year.

Amax reported revenue of US$528.000 for the six months ending in September, which they’re down compared to the US$514.000 posted in the same period in 2015. The numbers show a loss mainly because the gaming business in the Republic of Vanuatu declined.

The company currently holds almost 25 percent equity interests in Greek Mythology, the casino that’s located next to the hotel that was shut down by the Macao Government Tourism Office on July due to serious administrative irregularities, including a threat to public safety. The company said back in August that they still had to obtain 2015 and 2016 management accounts from Greek Mythology and that it had been advised by its Macau lawyer to take further action against the casino and its management.