Japan gaming company Universal Entertainment has entered into a joint venture with Mainland China financial firm China Guangcai International Investment Group to expand its business in Southeast Asia.
According to Inside Asian Gaming, the 50-50 joint venture will include exclusive rights to the sale and maintenance of Universal devices and systems in all Southeast Asian countries other than the Philippines, home of Universal’s recently opened Okada Manila integrated resort in Entertainment City.
In a filing to JASDAQ, Universal said, “We believe that the cooperative relationship with the internationally proven group will contribute to expanding our casino-related business.”
The Guangcai Group is involved with global national projects in the field of finance, resource development, mineral development and trade, reported Asia Gaming Brief.
Earlier this month, Universal Entertainment announced it has filed a damage suit against its founder, Japanese billionaire Kazuo Okada, over the alleged fraudulent use of company money between 2013 and 2015, reported AGB.
