Hong Kong-listed Century Entertainment International Holdings Ltd says it started on October 1, operations at two VIP rooms in a casino at Dara Sakor, Koh Kong province, in Cambodia.
Following what the firm termed “proactive efforts to advance the casino agreement”, the lease and operation of the VIP rooms were approved at a special general meeting on 30 September 2024, “with the VIP rooms officially commencing operations on 1 October 2024,” it stated in a Friday filing.
It added: “This is expected to contribute positively to the group’s financial performance starting in late 2024.”
In May, Century Entertainment announced that one of its subsidiaries would be running two VIP rooms in Cambodia, under a three-year contract.
The two rooms have a combined gross floor area of about 650 square metres (6,997 sq feet), featuring seven gaming tables, said the company.
Century Entertainment will be entitled to 100 percent of winnings and be responsible for the entire house losses, and “shall bear the relevant staff costs and taxes associated with such gaming business”.
The casino belongs to an entity called LongBay Entertainment Co. Ltd, and is located at the LongBay Century Hotel (pictured).
On Friday, Century Entertainment reported a net loss of HKD11.4 million (US$1.5 million) for the six months to September 30, up 3.9 percent from a year earlier.
The company said it recorded no revenue for the reporting period as “work on the reopening of the gaming tables [business in Cambodia] was still in progress”.
In its interim report, Century Entertainment stated the group was “well-positioned to capitalise on the recovering traffic” in Cambodia, amid what it said were “favourable market conditions and the successful launch of its new VIP [gaming] rooms”.
The company also said it would “closely monitor the regulatory developments” in Thailand, if that country eventually legalises casino gambling.
Century Entertainment said it was also “actively considering” other business opportunities “that would further diversify business risk and bring new revenue streams”, including the possibility of establishing “a new business line focused on the sourcing and distribution of premium Camellia oil”.
