LT Game Limited inks Shanghai Libiao agreement
As it looks to expand its production base, Macau-based electronic table games innovator LT Game Limited has reportedly signed a deal that will see an entity known as Shanghai Libiao manufacture a large proportion of its new equipment.
According to a report from GGRAsia, the agreement is due to see Shanghai Libiao fulfill ‘procurement’ as well as ‘research and development’ duties for LT Game Limited alongside ‘inspection’ and ‘quality checks’ on any gaming machines manufactured at its headquarters in mainland China.
LT Game Limited reportedly also declared that it intends to pay Shanghai Libiao $4.35 million along with a one-off agency fee worth approximately $15,760 to manufacturer its units ‘in bulk’ with the entire contract set to be completed by the end of 2020.
Hong Kong-listed LT Game Limited moreover reportedly stated that it selected Shanghai Libiao to manufacture its innovations due to the firm’s ability to serve as a ‘one-stop’ shop for production in mainland China. It purportedly explained that this additionally encompasses its partner’s capacity to arrange ‘settlement of the consideration’ in local currency as well as its talents at ‘inspecting and negotiating regarding any quality issues of the gaming equipment’.
LT Game Limited is a subsidiary of local casino games operator Paradise Entertainment Limited, which is responsible for Macau’s Casino Kam Pek Paradise, and furthermore reportedly described Shanghai Libiao as adept at ‘exporting and delivering’ equipment it produces.