GGRAsia – Amax Intl plans name change to Century Entertainment

Amax Intl plans name change to Century Entertainment

Sep 10, 2019 Newsdesk Latest News, Macau, Top of the deck

A brand once associated with one of the largest gambling junket operations in Macau plans to change its Hong Kong-listed entity’s English-language name from Amax International Holdings Ltd to Century Entertainment International Holdings Ltd.

The group said in a Monday filing the new name would “refresh the corporate image and identity of the company and will more appropriately describe the vision of the group, which the board considers is in the interest of the company and its shareholders as a whole”.

The filing didn’t give further details regarding what corporate image and vision the firm wished to pursue.

The name change is subject to approval being given by a special general meeting of the group’s board. Amax International also intends to change the Chinese-language version of its name.

In a June filing, Amax International said its annual net loss grew to about HKD418.10 million (US$53.3 million) in its financial year ended March 31, from nearly HKD52.80 million the year before.

Amax International blamed most of the group’s annual net deficit on a loss of HKD353.53 million related to disposal of an associate.

In March the company sold its 24.8 percent stake in an entity that used to run the Greek Mythology casino in Macau. The stake in Greek Mythology (Macau) Entertainment Group Corp Ltd went to a Macau property investment and business consulting company, Fu Po International Ltd, for a nominal sum.

The Greek Mythology casino has been closed for years because of business disputes. It had operated on the strength of the gaming licence held by SJM Holdings Ltd. Amax International’s chairman, Ng Man Sun, is a veteran of the Macau junket market.