Universal Entertainment has signed a Basic Agreement with Guangcai Group, one of China’s leading nationally-owned finance conglomerates.
The fifty-fifty joint corporation in Hong Kong will oversee the sales and maintenance business for casino-related devices and systems developed and manufactured by Universal. The joint corporation will have the exclusive right of sales under said sales and maintenance business for casino-related devices and systems in all Southeast Asian countries apart from the Philippines.
Universal stated: “Since the foundation, the Guangcai Group has developed as a state-owned finance enterprise group with support from the Chinese central government, and has been engaged in national level projects globally in fields such as finance, resource development, mineral development, trade. We believe that the cooperative relationship with the internationally proven group will contribute to expanding our casino related business.”