HONG KONG, Nov 26, 2018 - (ACN Newswire) - NIRAKU GC HOLDINGS, INC.1 ("NIRAKU" or the "Group"; stock code: 1245), one of the largest and leading pachinko hall operators in Japan, today announced that it has entered into a Joint Venture Agreement with Capital Creation (BVI) Limited ("CCBVI") through NGCH Hong Kong Limited ("NGCHHK"), a wholly owned subsidiary of the Group, to establish a joint venture company in Hong Kong that will enter the e-sports business in the Pan-Asia region.
The joint venture company, Yes! E-Sports Asia Holdings Ltd. ("YEAH"), to be 60% owned by CCBVI and 40% by NGCHHK, aims to provide a horizontal e-sports platform, focusing on the Mainland China, Hong Kong, Macao, Taiwan, Japan, South Korea, Singapore, Malaysia, Thailand and Vietnam markets. YEAH will also seek to promote e-sports in the Pan-Asia region.
In view of the rapidly expanding e-sports market worldwide, and particularly the Pan-Asia market, the Group believes that building strategic partnerships and strong business networks in different countries can lead to the provision of innovative top-class and comprehensive entertainment across Asia via its proprietary "e-sports + Entertainment" platform, thereby echoing its corporate slogan "Happy Time Creation".
1For identification only
About NIRAKU GC HOLDINGS, INC.1
Founded in 1950, NIRAKU GC HOLDINGS, INC.1 was the fourth largest pachinko hall operator in Japan in terms of gross revenue in 2013, according to Entertainment Business Institute. With a history of operating pachinko halls for over 60 years, the Group is strategically located in Northeast Honshu, Japan, and has stood by its corporate slogan of "Happy Time Creation", placing a primary focus on the customer experience and goodwill. The Group operates a total of 55 pachinko halls as at the date of this press release. With most of its halls geographically placed in suburban areas, the Group benefits from lower land costs, a more stable customer base and less competition from other forms of entertainment.
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Nov 26, 2018 17:24 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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