AGTech announced in October last year its acquisition of Macau Pass, which will become a wholly owned subsidiary. This acquisition is expected to create significant synergies for AGTech, particularly in its mobile games and entertainment and non-lottery hardware businesses.
The deal has received approvals, including written approval from the Monetary Authority of Macau, paving the way for its completion. AGTech stated that the acquisition will be finalized once all other closing conditions are met or waived.
The original announcement highlighted Macau Pass as a leading payment service provider in Macau, with a strong presence in physical payment card, e-wallet, and acquiring services. AGTech considered this acquisition as an excellent investment opportunity to realize its strategic goals.
The integration with an e-wallet operator will provide AGTech with its own platform to enhance the potential economic benefits of its games and entertainment business.
