LT Games Limited Signs Shanghai Libio Contract
LT Games Limited, a Macau-based electronic table game innovator, is said to have signed a contract by a company called Shanghai Libiao to manufacture much of its new equipment. The agreement aims to fulfill Shanghai Libiao's "buy" and "research and development" obligations to LT Games Limited, along with "inspection" and "quality inspection" of all game consoles produced at its mainland China headquarters. LT Games Limited also reportedly plans to pay $4.35 million to Shanghai Libio, along with a one-time agency fee worth about $15,760 and the full contract is set to end. SAYS IT HAS CHOOSE SHANGHAI LIBIO TO MANUFACTURE INNOVATION DUE TO THE COMPANY'S CAPABILITY TO ACT AS A 'ONE-STOP' SHOP FOR PRODUCTION IN HERMANY. It also reportedly explained that it includes not only a talent for "checking and negotiating the quality issues of game equipment" but also the partner's ability to "resolve considerations" in local currency. LT Gaming Ltd. is Parada, a local casino game operator responsible for Casino Campec Paradise in MacauAs a subsidiary of Is Entertainment Limited, Shanghai Libio has reportedly described its proficiency in "exporting and shipping" the equipment it produces.