AN AFFILIATE of gaming and technology Filipino firm DFNN, Inc. has acquired 92% of the issued share capital of a casino operator listed on the Australian Stock Exchange (ASX), the company told the local bourse on Monday.
This comes around two months after DFNN’s affiliate HatchAsia, Inc. received a letter of no objection from Australia’s Foreign Investment Review Board on its planned acquisition of majority of Australian casino operator Silver Heritage Group Ltd.
HatchAsia, which is 18.98% owned by DFNN, is engaged in building solutions for fintech, gaming and payment solutions for utilities, among others.
DFNN said that HatchAsia had gained control of the Australia-based Silver Heritage.
“Today, DFNN was informed that on January 22, 2021 (professional services firm) KPMG (and) Deed Administrators of SVH disclosed to the ASX the completion and execution of the Deed of Company Arrangement (DOCA) effecting the acquisition of 92% of the issued share capital of the latter,” DFNN said.
The Philippine firm said that additional information would be disclosed to the Philippine Stock Exchange “as necessary.”
In September, DFNN signed a deal to purchase a majority stake in Silver Heritage. It added that the acquisition was worth P18.74 million or AU$530,000 in cash, and 3% of issued shares.
Silver Heritage operates and manages casinos in Nepal and Vietnam. It also manages electric gaming operations in Laos and Cambodia.
DFNN shares on Monday were unchanged at P4.96 apiece. — Angelica Y. Yang