THE chairman and chief executive of the Canadian listed entertainments group Q-Zar, Irishman Mr Tom Butler, has increased his stake in the company to more than 50 per cent.

Mr Butler has acquired 7.27 million Q-Zar shares - 37 per cent of the total equity - from the McCarthy Corporation of London for $34.1 million (£21.3 million). The transaction values Q-Zar at more than £57 million.

"I am delighted to have the opportunity to significantly increase my shareholding as Q-Zar is uniquely positioned for substantial growth in the leisure and entertainment technology industries on a world wide basis," Mr Butler said.