Two Philippines casinos sold have been bought by World Poker Fund Holdings, an operator of online gaming.
World Poker Fund Holdings, Inc. engages in the development and operation of on-line technology, gaming platforms and brands.
The company was founded on January 16, 1997 and is headquartered in Los Angeles, CA.
More details about World Poker Fund Holdings, Inc. you can find HERE.
The purchase is from HatchAsia and refers to the Madison Casino in Mandaluyong (pictured) and Penny Lane Casino in Davao. Both are currently run by Filipino licence holder PAGCOR and both are attached to hotels.
The deal for the two Philippines casinos is in return for a combination of cash and stock worth US$4m, which is considerably below HatchAsia’s own valuation of $10m, but issues over gaming licences have encouraged the group to liquidate its holding.
Madison Casino has 16 gaming tables and 350 slots and Penny Lane Casino has eight tables and 200 slots. World Poker Fund operates only outside of the US.
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