XSGames has announced its investment in Palasino, a subsidiary of Far East Consortium International (FEC).
FEC, a Hong Kong-listed company with investments spanning property development, hotel operations and gaming across various international markets, has now invested in Palasino on 26 March.
XSGames has subscribed to HK$70m ($8.9m) worth of shares in Palasino's initial public offering (IPO).
The reported rationale behind XSGames' investment lies in Palasino's established foothold in the European gaming market. With over two decades of experience operating physical casinos and hotels in Europe, Palasino holds a licence for online gaming operations in Malta.
The company focuses on gaming and leisure entertainment, managing integrated land-based casinos and resorts in the Czech Republic, as well as hotels in Germany and Austria.
XSGames holds 15-year history of involvement in the global gaming industry, offering various products and services worldwide, including online gaming platforms, LAN-based gaming systems and slot machines.
Notably, XSGames entered the US market in 2022 with its slot machines, becoming the first Taiwanese and third Asian company to do so.
As part of the collaboration, Palasino intends to source slot machines from XSGames to enhance its product offerings.
Additionally, XSGames plans to introduce its products into the European market, marking the first time a Taiwanese company will enter the European slot machine market.
In April 2023, Gaming Innovation Group (GiG) finalised a partnership agreement with Palasino Malta, a subsidiary of Trans World Hotels & Entertainment (TWHE), aimed at expanding TWHE's retail business online.
