World Mahjong Tour, Inc. Gets FundingA gaming company, World Mahjong Tour, Inc. (WMT), which is focused in the Asia market announced that it has secured funding from the owner of the Hollywood Park Casino and Crystal Park Casino based in Los Angeles, California, Leo Chu.
As the new chairman of World Mahjong Tour, Chu said, My confidence lies with the two founders Pierre Wuu and David Wang who bring a wealth of industry knowledge to the future success of this company. “The future of online and offline gaming will be in Asia and mahjong is the number one game for that region. The World Mahjong Tour will be in a great position to solidify itself as a leader in the space and I am very excited to be a part of it.”
The co-founders of WMT, Pierre Wuu and David Wang added, “We are pleased to have Leo as our chairman. He brings a wealth of gaming experience and contacts throughout the Asia region which will be beneficial to the future success of our company. As chairman he also brings the credibility and drive to ensure our upcoming Series B round of funding is not only secured but by 'smart money' strategic investors.”
Asia Pacific generates $163 billion for the casino and gaming industry last year. According to The Economist,
“Macau’s gambling receipts increased by 22% in 2006 placing it just ahead of the Las Vegas strip, previously the global leader. The number of visitors to Macau has grown from 10 million in 2003 to 22 million in 2006”
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