BERJAYA CORPORATION BHD [] clarified Ascot Sports Sdn Bhd has the Minister of Finance's approval to conduct a sports betting operations and that the formal licence which was first issued in 1987 is pending re-issuance.
It said on Friday, June 11 there had been many conflicting discussions about the actual status of the approval given to Ascot to operate sports betting in the country.
To comply with the directive from Bursa Malaysia Securities Bhd, it reiterated certain parts of the announcement (dated May 12, 2010) to Bursa Malaysia.
BCorp said the May 12 statement stated: "The Minister of Finance has given its approval for the re-issuance to Ascot of the licence to carry out sports betting operations upon certain terms and conditions".
Another paragraph which listed out the approvals required, a sub-paragraph stated "The Minister of Finance for the re-issuance of the sports betting licence and the changes in shareholders and directors in Ascot, if required"
BCorp said on Friday that "as such it is evident from the above statements that Ascot has the approval from the Minister of Finance to conduct a sports betting operations and that the formal licence which was first issued in 1987 is pending re-issuance".
- Written by Joseph Chin
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