to fun88 Ascot
… to carry out sports betting operations upon certain terms
and conditions,” Berjaya said in a stock exchange filing.
Ascot is expected to kick start its sports betting operation
in the second half of this year, with its retail betting
operations being housed at selected Sports Toto outlets, the
Separately, Berjaya said it is planning to raise about 614
million ringgit from a rights offering.
KUALA LUMPUR May 12 Malaysian gaming group
Berjaya (BGRO.KL) will acquire from its major shareholder a
sports betting operator after the southeast Asian country
legalised the activity, the company said on Wednesday.. Shares of Berjaya, which were suspended from trading on
Tuesday, will resume trading from Thursday.
(Reporting by Soo Ai Peng; Editing by David Holmes)
($1=3.203 Malaysian Ringgit)
Shares of Berjaya Sports Toto ended up 2.7 percent ahead of
the announcement on Wednesday.
Tan also controls Berjaya Sports Toto (BSTB.KL), one of
three number forecast operators in the mainly Muslim country.
Berjaya will pay 525 million ringgit ($163.9 million) to
gaming tycoon Vincent Tan for a 70 percent stake of Ascot Sports
Sdn Bhd, which recently obtained approval from the government to
conduct a sports betting business.
“The primary focus of Ascot will be on sports betting on
soccer games in the initial stages with the aim of increasing
their product service offering to other sports in the future,”
“The Minister of Finance has given its approval ..
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