The company paid HK$0.069 (US$0.00892) per share for the balance of shares.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- LET Group Holdings <\/strong>has reported that Major Success Group has acquired 5,017,604,857 of its shares \u2013 approximately 75.25 per cent of all issued shares. The company controlled by Andrew Lo Kai Bong<\/strong>, a former business associate of ex-Macau junket boss Alvin Chau Cheok Wa<\/a>, paid HK$0.069 (US$0.00892) per share after making an original offer<\/a> of HK$0.0029 per share. <\/p>\n\n\n\n LET Group has been interested in several casino projects in the Asia Pacific region, including Vietnam and the Philippines. In September, the company said it aimed to devote resources to building world-class integrated resorts for Asia\u2019s emerging middle classes. It sees the Philippines <\/strong>as the country with the highest potential to generate returns with minimal risk.<\/p>\n\n\n\n The company also has interests in hotel and gaming operations in Tigre de Cristal, an integrated resort in Russia’s Primorye Region, through Hong Kong-listed Summit Ascent.<\/p>\n","protected":false},"excerpt":{"rendered":" The company paid HK$0.069 (US$0.00892) per share for the balance of shares.<\/p>\n","protected":false},"author":176,"featured_media":7596,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Major Success Group, controlled by Andrew Lo Kai Bong, has acquired a 75.25% controlling stake in LET Group Holdings for HK$0.069 per share. This significant ownership change impacts LET Group's strategic focus on integrated resort development in the Asia Pacific region, particularly the Philippines, and its existing gaming interests in Russia via Summit Ascent.","focusai_entities":"LET Group Holdings, Major Success Group, Andrew Lo Kai Bong, Alvin Chau Cheok Wa, Summit Ascent","focusai_location":"Hong Kong, Macau, Vietnam, Philippines, Russia, Primorye Region, Asia Pacific","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.8), operator_casino (0.7), payments_fraud_aml (0.7), investor_analyst (1.0), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Strategy Shift","query":"How will Major Success Group's controlling stake influence LET Group's integrated resort development pipeline and capital expenditure allocation in the Asia Pacific region, specifically regarding the Philippines and Vietnam?"},{"label":"Regulatory Impact","query":"What are the potential regulatory implications of this ownership change for LET Group's existing and prospective licenses, particularly concerning enhanced due diligence requirements given the historical associations of the new controlling party?"}],"footnotes":""},"categories":[157,16338],"tags":[24197],"class_list":["post-35121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-let-group-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=35121"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35121\/revisions"}],"predecessor-version":[{"id":35145,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35121\/revisions\/35145"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/7596"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=35121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=35121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=35121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}