Century Entertainment revises joint venture terms with WPT-linked partner
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Century holds a 51 per cent majority stake in the JV, while its partner retains 49 per cent.
The Philippines.- Hong Kong-listed Century Entertainment International Holdings has announced a change in its joint venture structure with World Platinum Technologies. It will shift from an equity-based deal to a fixed fee-based structure.
The joint venture, Konphil Technology was created last year, with Century holding a 51 per cent majority stake. Initially, the collaboration was built around a revenue-sharing structure, with WPT entitled to 15 per cent of gross gaming revenue generated from the planned portfolio of mobile gaming applications.
Century will now pay an annual licensing fee of $500,000 to use the platform, which includes back-end systems such as servers, RNG technology and compliance tools. The Philippines will now serve as the first deployment market for the JV whereas it was previously not included in the planned roll out.
Century holds a 51 per cent majority stake in the JV, while its partner retains 49 per cent. The Philippines.- Hong Kong-listed Century Entertainment International Holdings has announced a change in its joint venture structure with World Platinum Technologies. It will shift from an equity-based deal to a fixed fee-based structure. The joint venture, Konphil Technology…
