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INT'L ENT (01009.HK) Enters Cooperation Agreement with Philippines' TGXI on Online Gaming Platform
INT'L ENT (01009.HK) announced that its indirect wholly-owned subsidiary in the Philippines, NCLI, has entered into a cooperation agreement with independent third party TGXI. Pursu...
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INT'L ENT (01009.HK) Enters Cooperation Agreement with Philippines' TGXI on Online Gaming Platform
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INT'L ENT (01009.HK)  0.000 (0.000%)   announced that its indirect wholly-owned subsidiary in the Philippines, NCLI, has entered into a cooperation agreement with independent third party TGXI. Pursuant to the agreement, NCLI and TGXI agreed, on a non-exclusive basis, to cooperate in the integration, aggregation, provision, technical support and operation of approved online gaming and related gaming content conducted through or in connection with online gaming platforms and the "La Vie Resort & Casino Manila" casino. The cooperation is subject to approval from the Philippine Amusement and Gaming Corporation (PAGCOR) and compliance with applicable laws, rules, regulations, licensing and regulatory requirements.

To implement the cooperation, the Company has engaged Philippine legal advisers to provide opinions on whether the Group's online gaming operations comply with applicable laws. After reviewing and considering the legal advice obtained from the Philippine legal advisers, the Board confirmed that the Group's online gaming operations under the cooperation will be regarded as lawful and in compliance with applicable laws.

The Company has also appointed an internal control consultant to review the design of the internal control system, based on TGXI's internal control system to be adopted by the Group for the online gaming operations under the cooperation.

TGXI is a company duly incorporated and existing under the laws of the Philippines and is an experienced online gaming operator. TGXI is a direct wholly-owned subsidiary of DigiPlus, which is the holder of the Company's convertible bonds in an aggregate principal amount of HKD1.6 billion.


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