GEG buys Global Gaming Leisure for $4 mil

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HONG KONG -- Global Entertainment Group acquired London-based Global Gaming Leisure Plc. for 2.03 million pounds ($4 million) in shares, the company announced on Thursday.

GEG, listed on London's PLUS market, will issue 126,875,000 new shares at 1.6 pence ($0.03) per share, for a market capitalization of 5.84 million pounds ($11.54 million).

GGL will be integrated into GEG's current gaming activities in the Macau gaming industry and online gaming. GGL already has interests in one of the VIP Rooms in Macau's Wynn Resorts.

GEG chairman and director of GGL Johnny Hon became GEG’s largest shareholder after the acquisition, with a 24.86% stake.
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