HONG KONG and BELLINGHAM, Wash., Feb. 3, 2010 (GLOBE NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) confirmed today that Macau gambling revenue hit a record high in January.
Casino revenue totaled 14 billion patacas (US$1.72 billion) during the month, a rise of 65% from a year earlier, according to reports by the Portuguese-language Lusa News Agency. Baccarat accounts for 88 percent of total Macau casino winnings in the year to September, and revenues are up by 53 percent this year.
API’s CEO commented, “I am pleased to inform API shareholders that our Macau VIP baccarat business revenues and profits have exceeded our best expectations.” The Company will be releasing the last 12 months gaming results shortly.
API announced on November 17th that it signed a Memorandum of Understanding “MOU” to acquire 50.10% interest of a Macau casino VIP club from Peak Winner Holdings Limited (“Peak Winner”). Peak Winner has a profit share interest in Sing Hou VIP Club (“Sing Hou”).
About Asia Properties, Inc.: Asia Properties, Inc. was established to develop resorts and prime real estate in Southeast Asia. API is a Nevada corporation and trades on the Pink Sheets under the symbol "ASPZ." There are currently 35,474,362 fully diluted shares consisting of 11,965,626 restricted and 23,508,736 free trading. The transfer agent is Transfer Online, Inc. of Portland, Oregon.
The Asia Properties, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1733
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements.