World Mahjong Tour, Inc. Secures Series A Financing
World Mahjong Tour, Inc. (WMT), a leading Asia focused gaming company, announced today that it has secured Series A funding. World Mahjong Tour will plan in 2008 to have 6 high stakes mahjong tournaments in majors cities that is not limited to but includes, Las Vegas, Macau, and Los Angeles. WMT is engaged in the creation of internationally branded, content, online & offline games, entertainment and sponsorships driven by the development, production, and marketing of Asian gaming content (primarily mahjong).
Los Angeles, CA (PRWEB) November 20, 2007 -- World Mahjong Tour, Inc. (WMT), a leading Asia focused gaming company, announced today that it has secured Series A funding from Leo Chu who is owner of the Hollywood Park Casino and Crystal Park Casino based in Los Angeles, California. Chu also is very involved with the gaming industry in North America.
"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," said Leo Chu, new chairman of World Mahjong Tour. "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."
"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," said Pierre Wuu and David Wang, World Mahjong Tour founders. "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."
According to Datamonitor, Asia-Pacific alone generated $163 billion for the casino and gaming industry in 2006, which was equivalent to 53.3% of total global revenues.
The Economist states that 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 and Goldman Sachs estimates the number will reach 45 million by 2009.
Co-founder Pierre Wuu was the past CEO/Founder of Click2Asia, an online dating company focused on the Asian marketplace which raised over 15 million USD in equity financing. Co-founder David Wang was the former Vice President of Online for the World Poker Tour (NASDAQ - WPTE). Both founders have a wealth of knowledge and contacts throughout the gaming industry. Season one of the World Mahjong Tour will start in the first half of 2008 with six tour stops which include major cities such as Macau, Las Angeles, and Las Vegas. All tour stops will be filmed for television distribution throughout Asia and the world. Potential sponsors, partners, and charter casinos are advised to contact the WMT immediately.
About World Mahjong Tour:
World Mahjong Tour (WMT) is an Asian gaming media company focused on expanding the popularity of Asian gaming throughout the world.
WMT is engaged in the creation of internationally branded, content, online & offline games, entertainment and sponsorships driven by the development, production, and marketing of Asian gaming content (primarily mahjong).
Contact
Michael Cao
World Mahjong Tour, Inc
626-227-4118
mcao @ worldmahjongtour.com
www.worldmahjongtour.com
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