POINT ROBERTS, WA - June 22, 2011 - InvestorIdeas.com is a leader in investor stock research including China stocks and gaming stocks, issues a trading alert for Asia Entertainment & Resources (NASDAQ:AERL ). The stock is trading up at $6.56, up 0.95 (16.93%) 11:07AM EDT, with a morning high of $6.75 following news of a dividend and share repurchase program.
News:
Asia Entertainment & Resources Ltd. Announces Regular Semi-Annual Cash Dividend and Share Repurchase Program
HONG KONG - Asia Entertainment & Resources Ltd. ("AERL" or the "Company") (NASDAQ:AERL), which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, today announced that its Board of Directors has authorized a regular semi-annual cash dividend of $0.10 per outstanding ordinary share each year after the release of the Company’s financial results for the six months ending June 30, and, for each year after the release of the Company’s financial results, an amount per outstanding ordinary share equal to (i) 15% of the Company’s non-GAAP net income for the most recently completed fiscal year less the amount paid pursuant to the immediately previous six-month dividend, divided by (ii) the number of ordinary shares outstanding on the record date for such dividend.
About Asia Entertainment & Resources Ltd.
AERL, formerly known as CS China Acquisition Corp., acquired Asia Gaming & Resort Limited ("AGRL") on February 2, 2010. AERL is an investment holding company which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, and is entitled to receive all of the profits of the VIP gaming promoters from VIP gaming rooms. AERL’s VIP room gaming promoters currently participate in the promotion of three major luxury VIP gaming facilities in Macau, China, the largest gaming market in the world. One VIP gaming room is located at the top-tier 5-star hotel, the Star World Hotel & Casino in downtown Macau, and another is located in the luxury 5-star hotel, the Galaxy Macau™ Resort in Cotai, each of which is operated by Galaxy Casino, S.A. The third VIP gaming room is located at the Venetian Macao-Resort-Hotel in Cotai.
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