Macau Business Daily – Loss-making Macau junket investor Amax Holdings Ltd says its attempt to operate a casino in the Turkish Republic of Northern Cyprus is back on the negotiating table.

Amax said in a filing on September 19 “the parties could not compromise on finalising the terms of a formal sale and purchase agreement”. Now Amax says in a Hong Kong filing yesterday the proposal is “subject to further negotiation” and the deadline for talks has been extended until November 30 “or such other date as may be agreed”.

In August an external auditor said in the firm’s annual report for year ended March 31 that Amax’s accounts contain “material uncertainty which may cast significant doubt about the group’s ability to continue as a going concern”.

Amax had losses for the 12-month period of approximately HK$39.38 million (US$5.08 million). Last year Amax’s current chairman Ng Man Sun was attacked by masked men while dining at the New Century Hotel, Taipa.