The firm will hold a special April 27 meeting to get shareholder approval for the acquisition.
UK.- Landing International Development Ltd. scheduled a meeting with its shareholders on April 27 to get shareholder approval for the acquisition of Les Ambassadeurs Club and Casino.
According to information provided by Landing International in December, the firm had a deal worth US$192.7 million to acquire all the shares in the company which controls Les Ambassadeurs.
Les Ambassadeurs Club and Casino is a high end gambling operation located in a Victorian townhouse, which currently operates 45 gaming tables and offers a variety of games, including roulette, baccarat, blackjack and three-card poker.
Les Ambassadeurs’ marketing plans aimed to lure in Asian gamblers will continue to expand with a particular focus on the Chinese markets for high rollers. Last year, 50.3 percent of the club’s customer base was from Asia.
Landing International said it expected more favourable returns from Asian high rollers even though that market may represent higher risks. Furthermore, the firm believes the risk of debt recovery would be manageable and reduced by implementing quality credit control measurements.