BToto to raise stake in PGPI

KUALA LUMPUR: Berjaya Sports Toto Bhd (BToto) plans to increase its stake by another 6.81% in Prime Gaming Philippines, Inc (PGPI) for RM32.24mil cash.

BToto said yesterday its unit Berjaya Sports Toto (Cayman) Ltd had entered into a share sale agreement with Ferrystar Ltd for the proposed acquisition of 60.7 million shares in PGPI.

Currently, BToto and its unit Berjaya Lottery Management (HK) Ltd hold 9.12% and 72.33% equity interest in PGPI respectively.

On completion of the proposed acquisition, BToto group’s equity interest in PGPI will increase to 88.26% from 81.45% at present, while Ferrystar will continue to hold the balance.