Hong Kong businessman and high stakes poker player Stanley Choi has taken a key step forward in his quest to bring the PokerStars LIVE brand back to Macau with his company, International Entertainment Corp (IEC), acquiring Rational Live Events Macau Limited – a local subsidiary of PokerStars owner The Stars Group.
Rational Live Events Macau Limited is described by PokerStars as one of its “data controllers”, responsible for the capture, storage and use of the personal information of players taking part in local events including those formerly held at the PokerStars LIVE Macau poker room at City of Dreams.
IEC described the company as “managing, operating and organizing live events/poker tournaments in Macau.”
As reported by Inside Asian Gaming earlier this month, Choi is in negotiations to re-launch PokerStars LIVE Macau at nearby Studio City with an eye to holding the 29th edition of the Macau Poker Cup. PokerStars also previously hosted the Asia Pacific Poker Tour, Macau Millions and Asia Championship of Poker each year.
In a filing to the Hong Kong Stock Exchange overnight, IEC revealed it had agreed to acquire the entire share capital in Rational Live Events Macau Limited from for a total consideration of US$3 million from current owners, Global Poker Tours Ltd and European Poker Tour Ltd – both subsidiaries of The Stars Group.
It follows a collaboration agreement signed between IEC and The Stars Group in May for IEC to operate land-based live events and poker rooms under the branding of PokerStars in Macau, Japan, South Korea, Vietnam, Singapore, Malaysia and Cambodia.
Explaining its latest acquisition, IEC said, “In order to facilitate the operation of live events/poker tournaments in Macau, the Directors consider that the acquisition and the loan assignment enable the company to achieve this objective given that [Rational Live Events Macau Limited] is experienced in managing, operating and organizing live events/poker tournaments in Macau.”
