Macau junket company Amax Holdings says its attempt to operate a casino in northern Cyprus is back on the negotiating tabl
Amax said in a recent filing that “the parties could not compromise on finalising the terms of a formal sale and purchase agreement.” Now Amax says the proposal is “subject to further negotiation” and the deadline for talks has been extended until November 30.
In August an external auditor said in the firm’s annual report for the year ended March 31 that Amax’s accounts contain “material uncertainty which may cast significant doubt about the group’s ability to continue as a going concern.”
Amax had losses for the 12-month period of approximately HK$39.38m (US$5.08m). Last year Amax’s current chairman, Ng Man Sun, was attacked by masked men while dining at the New Century Hotel in Taipa.
