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SINGAPORE-based Pacific Gaming Investments Pte. Ltd., a
subsidiary of listed Diversified Financial Network, Inc.
(DFNN), has hired foreign experts to help them pursue a
public offering abroad and rapidly market its products
in Asia.
In a
disclosure Thursday, DFNN said investment banker Andrew
Scott joined Pacific Gaming as director and will assist
in the capital market exercise the company plans to
undertake in
Europe.
Pacific
Gaming is eyeing to list at the London Stock Exchange or
another foreign bourse to cover the increase in equity
it bought in a recently acquired gaming company.
Scott
was formerly with the Maxim Group LLC, a leading
investment banking, securities and investment management
firm. His former company underwrote the $100-million IPO
of a blank check company, an entity in development that
has no specific business plan yet, owned by Angela Ho,
daughter of Macau’s richest man and casino mogul Stanley
Ho at the American Stock Exchange.
According to DFNN director Miguel Manzano, Scott may be
able to solicit interest from the Ho group to invest in
Pacific Gaming since the group is said to be planning an
acquisition in the leisure, hospitality or financial
services industry in Asia.
Meanwhile, Martin Jonsson, formerly of Boss Media AB,
one of the world’s leading suppliers of systems for
digitally-distributed gaming entertainment, is now
Pacific Gaming’s chief technology officer. Jonsson led
the integration and implementation of Boss Media’s
payment and risk management portfolio with several
high-profile merchants and gaming companies.
“With
his design and technical background and experience in
the Internet payments sector and development projects in
general, Jonsson brings to PGI a wealth of technical and
structural knowledge that will help bring PGI’s products
to market rapidly, while ensuring they support the
leading-edge features that are expected in the
fast-moving gaming sector,” said DFNN.
Last
December, PGI acquired nearly 34-percent equity in
Interactive Entertainment Technology Solutions for $2.5
million. With the purchase, PGI has obtained management
control in the Southeast Asian gaming firm, which is
engaged in event, sports and financial spread bettings.
Pacific Gaming also has an option to buy the remaining
66-percent stake upon listing at a suitable exchange.
Chairman
Ramon Garcia Jr. said earlier the entry into Interactive
Entertainment is just one of the many strategic moves
that will be implemented by the group in order to gain a
foothold in the growing market for online gaming
worldwide.
“[Pacific Gaming] has also begun due diligence on a
number of cash-flow positive and operational slot
machine arcades in Cambodia and the Philippines with the
end goal of acquiring these arcades,” he said.
He noted
that wireless sports betting, particularly those using
mobile phones, has been growing at a phenomenal rate in
Europe, while somewhat absent in the Asian market. Pacific Gaming
will provide the gaming software expertise and marketing
tie-ups in various Asian countries.
Financial spread betting is another area that shows huge
potential for the company. By far the largest portion of
wireless betting in the United Kingdom concerns
financial instruments. Investors can use their cell
phones to wager on the movement of a stock, currency, or
commodity almost anywhere in the world. Wager amounts
are small but can offer large returns.
DFNN has
also begun holding discussion with a leading global
financial institution to be the software and marketing
provider for Asia. |
