Magnum gets RI gaming license

Magnum gets RI gaming license

KUALA LUMPUR: Magnum Corp. Bhd., a Malaysian gaming company, on Wednesday
said it has obtained a license to operate gaming operations in
Indonesia.

In a statement to the Kuala Lumpur Stock Exchange, Magnum said
its unit Magnum Investment Ltd. has been appointed as the sole
manager for the development, management, marketing and promotion
of a draw known as "the Sports Welfare Game" in Indonesia.

The game's participant can buy a ticket in conjunction with
some sports events.

In addition to attendance at the sports event, each ticket
entitles the holder to participate in a draw to win various
predetermined prizes or their cash equivalent, Magnum said.

The draw is expected to be launched in the first quarter of
this year.

Magnum said the new operation is likely "to contribute
positively to the earnings of the Magnum group in the medium and
long term." -- Dow Jones