Acquisition of Century Entertainment’s eight gaming table ops still pending

The company’s acquisition of eight gaming table operations in a Dara Sakor casino is still ongoing, according to Century Entertainment’s interim financial reports ending September 30.

The company inked a five-year contract in February to run the tables, but as of the announcement, completion was pending approval from independent shareholders.

The agreement, which was made with a company under CEO Ng Man Sun’s control for HK$58 million ($7.39 million), was offset by amounts owed by the CEO and his subsidiary Lion King.

The 10,500 square meter Dara Sakor casino in the province of Koh Kong is divided into 7,000 square meters for gaming spaces. It contains 50 electronic gaming machines, 25 VIP tables, a Chinese restaurant, and 20 mass gaming tables including baccarat, poker, blackjack, and sic bo.

The casino and gaming licenses are leased to Century Entertainment through April 2036. The company is still upbeat about Cambodia’s tourism outlook, aiming for 5.6 million foreign visitors in the upcoming year and 7 million by 2025, despite a net loss of HK$11 million ($1.4 million) for the six months ending September 30, 2023, and net current liabilities of roughly HK$52.7 million ($6.8 million) on the same date.

In order to resume operations as soon as feasible, Century Entertainment is concentrating on its core gaming table operations and hopes to speed up the circular delivery of the eight gaming tables. This is because the industry outlook is positive. Furthermore, the company is actively exploring opportunities in the VIP gaming table market in Cambodia and the Southeast Asian entertainment sector in order to diversify risks and revenue streams.

Original story by: Asia Gaming Brief