This Schedule 13D is filed by Lam Man Pou with respect to ownership of the ordinary shares (“Ordinary Shares”), par value $0.0001 per share of Asia Entertainment & Resources Ltd., a Cayman Islands exempted company (the “Issuer”).
The percentage of beneficial ownership reflected in this Schedule 13D is based upon 12,545,224 Ordinary Shares outstanding as set forth in the Issuer’s Form 20-F filed on March 19, 2010.
Item 1. Security and Issuer.
The class of equity securities to which this Schedule 13D relates is the Ordinary Shares of the Issuer. The Issuer’s principal executive offices are located at Unit 1004, East Town Building,16 Fenwick Street, Wanchai, Hong Kong.
Item 2. Identity and Background.
Mr. Lam’s business address is Unit 1004, East Town Building, 16 Fenwick Street, Wanchai, Hong Kong. Mr. Lam has been Chairman and Chief Marketing Officer of the Issuer since February 2, 2010.
Mr. Lam has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
Mr. Lam has not, during the past five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Mr. Lam is a citizen of Macau, China.
Item 3. Sources of Funds.
On February 2, 2010, the Issuer consummated the transactions contemplated by the Stock Purchase Agreement, dated as of October 6, 2009, as amended on November 10, 2009, December 9, 2009 and January 11, 2010 (the “Stock Purchase Agreement”), among the Issuer, Asia Gaming & Resort Limited (“AGRL”), and Spring Fortune, the sole shareholder of AGRL and of which Mr. Lam was a shareholder, which, among other things, provided for the acquisition by the Issuer of all of the outstanding capital stock of AGRL (the “Acquisition”).
On the closing of the Acquisition, the Issuer acquired from Spring Fortune all of outstanding capital stock of AGRL in exchange 10,350,000 Ordinary Shares. Additionally, 4,210,000 Ordinary Shares (“Future Shares”) will be issued to Spring Fortune upon the filing of the Issuer’s annual report on Form 20-F for the 2010 fiscal year and up to 18,786,000 additional shares (“Incentive Shares”) will be issued to Spring Fortune as incentive consideration if certain income targets are met for the years 2010 through 2012.