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Asia Entertainment & Resources Message Board

  • gallery_pup gallery_pup May 19, 2011 3:15 PM Flag

    AERL Galaxy Expansion & Credit line

    Press Release Source: Asia Entertainment & Resources Ltd. On Wednesday May 18, 2011, 9:17 am EDT

    HONG KONG--(BUSINESS WIRE)-- Asia Entertainment & Resources Ltd. (“AERL”) (NASDAQ:AERL - News), which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, successfully opened its newest VIP room at the brand-new Galaxy Macau™ Resort in Cotai through its related promoter company. The room opened at 5pm May 15, with 12 tables including 4 private rooms, to a large group of VIP customers. The company also announced that it has negotiated a HK$200 million line of credit with Galaxy Casino, S.A. which is subject to a formal agreement. The line of credit is a non-interest bearing loan and will be guaranteed by AERL’s Chairman Lam.

    “We are pleased to have this opportunity to expand our relationship with our partners at the new Galaxy Macau™ Resort. The facility is nothing less than first class all around,” said AERL Chairman Lam. “Further, upon opening our new room at the Galaxy Macau™, we have entered into a new line of credit with Galaxy Casino, S.A. that will enable us to establish a high level of play from the start.”