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Amax has expressed its willingness to take over control of VIP rooms in the casino, which has yet to be named.

More information related to potential transactions
It is not surprising that Amax, one of Macau's leading casino investors, wants to strengthen its presence in the Cambodian VIP gambling market. The company refrained from naming the casino where the VIP room is located, but it has become clear to offer 13 bakara tables and is owned by citizens of the People's Republic of China, with a deadline of October 30 to announce the final decision to Amax after signing the letter of intent.

News of the signed letter of intent came Monday, explaining that it is a non-binding deal, and that both sides still have time to negotiate the terms of the final agreement. If both parties shake hands, Amax will receive exclusive rights to operate the VIP casino and will have to pay monthly fees for the next two years. Before a deal can be concluded, both sides must establish certain legal requirements and present anti-money laundering plans.

Earlier this year, especially in March, the U.S. State Department released a report that warned Cambodia to tighten regulations on the non-financial sector, including gambling. In another report, which was re-released on Monday, Amax had already filed an appeal with a Macau court and asked Chairman Ngman Sun and CEO to be allowed to be tasked with monitoring Greek mythology's operations as part of a crackdown on money laundering.

The relationship between the Greek Myth Casino and Amax
Amax is said to have a 29.8% stake in the Macau-based Greek mythology casino. The casino was closed for six months. The casino explained that the casino's business was temporarily suspended because of the renovation project. The Imperial Palace Hotel in Beijing, where Greek mythology was located, was also closed by the Macau Government Tourism Administration for six months. It explained that the license cancellation occurred due to unauthorized renovations and sanctions imposed due to certain administrative violations.

By the end of October, Amax is expected to take control of an unspecified VIP casino room in Cambodia's casino. Market experts predict Amax's future will be bright in case the deal is completed, as it can strengthen its position in the market and further boost its profits.