• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

U.S. operator Century Casinos dips toe in Vietnam

Apr 26, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck  


U.S. operator Century Casinos dips toe in Vietnam

U.S.-listed Century Casinos Inc says that an Austrian unit has acquired 51 percent of a firm with the right to operate a small gaming machine hall at a hotel in Vietnam’s Cao Bang province. The Vietnamese administrative area shares a border with the Chinese provinces of Yunnan and Guangxi. Casino gambling is illegal in mainland China, but several casino establishments on Vietnam’s northern border serve Chinese visitors.

Century Casinos’ unit Century Resorts Management GmbH has acquired 51 percent of the outstanding common stock of Golden Hospitality Ltd, a Hong Kong company, for a total consideration of US$560,000, said a Wednesday press release from the parent.

The announcement stated that, in turn, Golden Hospitality had agreements with a firm called Minh Chau Ltd, the owner of the hotel and gaming club in question, under which Golden Hospitality would manage the hotel and gaming there for a fee equal to 26 percent of Minh Chau’s profit. Under the agreement, Golden Hospitality also agrees to acquire a minimum of 51 percent of Minh Chau over the next three years, for a consideration of approximately US$3.57 million.

Century Casinos said in Wednesday’s release: “The hotel offers 30 low-standard rooms and the international entertainment and gaming club currently offers seven electronic table games for non-Vietnamese passport holders under a provincial investment certificate that allows for up to 26 electronic games. Golden’s intent is to upgrade and expand the hotel and gaming entertainment facilities.”

Erwin Haitzmann and Peter Hoetzinger, the co-chief executives of Century Casinos, added in a prepared statement in the release: “We are excited about this opportunity to enter the Asian land-based gaming market with a relatively small initial investment but great upside development and investment potential.”

Brokerage Union Gaming Securities LLC flagged in an April 6 note that Century Casinos had said it would “like to expand to Asia, which is where investor expectations are”.

Analyst John DeCree wrote at that time: “We believe Century Casinos has upwards of US$50 million of available capital without pushing net leverage beyond 2.0 times, which could represent a decent-sized opportunity in a secondary or tertiary market in Asia.”

Mr DeCree added in an email to GGRAsia in response to our enquiry: “Century has a history of partnering with local entities (i.e. in Poland and in Canada) and pursuing growth opportunities via joint ventures, initially to de-risk the project or acquisition.”

He added, referring to a casino project in Edmonton, Alberta, Canada: “Century Mile – approximately US$50-million in investment – is still the primary focus of the company and scheduled to open in early 2019.”


  • tweet
Related articles
  • U.N. warns about link between Mekong casinos and crime
    U.N. warns about link between Mekong...

    Sep 28, 2023  

  • ASEAN, China agree to jointly fight gambling-related crime
    ASEAN, China agree to jointly fight...

    Sep 27, 2023  

More news
  • Macau September GGR down 13pct on August: govt
    Macau September GGR down 13pct...

    Oct 01, 2023  

  • Sands China to revitalise firecracker factory, old streets
    Sands China to revitalise firecracker...

    Sep 29, 2023  


Latest News

Macau September GGR down 13pct on August: govt

Macau September GGR down 13pct on August: govt

Oct 01, 2023  

Macau’s September casino gross gaming revenue (GGR) fell by 13.2 percent month-on-month, to MOP14.94 billion (US$1.85 billion), according to a Sunday announcement from the local regulator, the...
Read More
Sands China to revitalise firecracker factory, old streets

Sands China to revitalise firecracker factory, old streets

Sep 29, 2023  

Bloomberry aims to raise up to US$99mln via share sale

Bloomberry aims to raise up to US$99mln via share sale

Sep 29, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The Philippines has been the primary growth driver, but really the broader Asian gaming industry is something that’s really important to us”

Matt Wilson

Chief executive of casino equipment provider Light & Wonder



Most Popular

  • International Ent to invest at least US$1bln in Manila IRInternational Ent to invest at least US$1bln in Manila IR September 28, 2023
  • Galaxy Ent to build ice rink, bookshop at Macau old shipyardsGalaxy Ent to build ice rink, bookshop at Macau old… September 28, 2023
  • Light & Wonder to expand facilities in the Philippines: CEOLight & Wonder to expand facilities in the Philippines:… September 29, 2023
  • S.Korea Daegu Casino fined US$776k for AML breaches S.Korea Daegu Casino fined US$776k for AML breaches  September 29, 2023
  • Osaka, MGM-Orix sign implementation deal for IROsaka, MGM-Orix sign implementation deal for IR September 28, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us