Ten Cent Subsidiary Buys Into China Lotsynergy

$57.4 million deal to acquire 7 percent, with more to come?

Hongze Lake, a subsidiary of the massive Hong Kong corporate Ten Cent, has announced that it is acquiring a 7 percent stake in lottery technology and services company China LotSynergy for $57.4 million.

Hongze will buy 594,034,513 new shares at a price of $0.75 each, and has negotiated the option to acquire a further 3.46 percent at $0.83.

If the option is exercised, the total proceeds from the sale will rise to $672.2 million, the company reported in a Hong Kong Stock Exchange filing this week.

Management at China LotSynergy said the new investment will be used mainly as working capital, and lays a sound foundation for the company's association with Ten Cent.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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