International Game Technology PLC (IGT) and Paradise Entertainment Limited (Paradise) have signed an agreement through their respective subsidiaries whereby Paradise will transfer all of its electronic table game technology, patents and other intellectual property (Table Game IP) to IGT, with exceptions of Table Game IP used exclusively in Macau.
According to a press release issued by Dow Jones & Company, Inc., the agreement provides IGT with exclusive rights to Paradise’s Table Game IP for the development, manufacturing and distribution of live and random number generator (RNG) electronic table games worldwide. That is with the exception of Macau, where Paradise subsidiary LT Game will remain the exclusive provider of its market-leading electronic table game products.
IGT will pay Paradise an upfront fee and an ongoing earn-out based on placement of products, utilizing the Table Game IP over a 15-year term. Paradise has an installed base of close to 4,000 machines in the territory.
clg, macao water discuss water supply facilities
The Customer Liaison Group (CLG) of the Macao Water Supply Company Limited (Macao Water) held its first meeting for 2016 yesterday, the discussion of which featured common issues relating to the maintenance of water supply facilities within the house boundary, as well as a briefing on the maintenance work of the Friendship Bridge Water Pipeline.
According to a statement by Macao Water, the company will carry out regular repair and maintenance work for the existing 500-plus kilometers of water supply pipeline in the city.
In order to increase the stability of water supply, Macao Water reported that it has carried out three maintenance projects on the Friendship Bridge pipeline over March and April this year.
Moreover, the government is currently doing research on water supply prices in line with full water costs, and is planning to keep the current structure of the water tariff mechanism but to adjust the price in different categories. The adjustment is expected to be implemented within this year.
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