HK listed Century Entertainment has announced the signing of a new deal that sees the company operate a VIP gaming room at a casino in Dara Sakor, Cambodia.
In a recent disclosure, Century Entertainment International Holdings Ltd revealed the termination of a prior agreement involving its Chairman and CEO, Ng Man Sun’s Lion King Entertainment, for the operation of VIP gaming tables at a Cambodian casino. Instead, Century Entertainment has established a new arrangement directly with the casino’s proprietors.
According to the fresh deal, Century Entertainment’s subsidiary, Wisdom Ocean Group Limited, will oversee the operation of all seven VIP gaming tables at the Dara Sakor casino for an initial three-year period. The company has committed to a monthly payment of US$35,000 to the owner, LongBay Entertainment, in exchange for full operational control, including 100 percent of winnings and losses. Additionally, Century Entertainment will handle relevant staffing expenses.
LongBay Entertainment will play a pivotal role by providing necessary gaming licenses, covering undifferentiated operational costs such as utilities and dealer wages, and ensuring regulatory compliance.
The decision to cancel the previous agreement with Lion King Entertainment stemmed from the company’s inability to access comprehensive financial records essential for regulatory compliance. Subsequently, negotiations ensued with LongBay Entertainment, leading to the current partnership aimed at revitalizing Century Entertainment’s gaming endeavors.
The designated VIP Rooms, situated in the burgeoning Dara Sakor district, are envisioned as a strategic venture with significant potential within Cambodia’s gaming market. Emphasizing its commitment to baccarat offerings across all gaming tables, Century Entertainment anticipates favorable prospects in the area.
Despite prior plans to relocate from Sihanoukville to Dara Sakor, challenges such as pandemic-induced disruptions and implementation delays had hindered the commencement of operations. Nevertheless, the company remains optimistic about the revenue-generating potential of its renewed gaming business.
