Century Entertainment posts full-year losses of HK$43m

Century Entertainment has revealed financial results for the fiscal year ending March 31, reporting a net loss of HK$43m.

Hong Kong.- Century Entertainment International Holdings has published its annual results for the year ending March 31, showing revenue of HK$0.7m, down 98.4 per cent year-on-year from HK$45.9m.

The company said the decrease was mainly due to the Covid-19 pandemic and the temporary closure of casinos in Cambodia since April 1, 2020, a measure that affected its gaming table business.

Century Entertainment reported a net loss of HK$43m, compared to a loss of HK$38.1m during the previous fiscal year. The increased loss was mainly due to the decrease in revenue.

The company said amortisation on the intangible assets concerning the gaming table business also affected the numbers.

During the fiscal year, the company took an impairment charge of HK$13.6m due to the amortisation of assets related to its VIP gaming business in Cambodia. The group noted that it has yet to finalise its 2021 results.

Last November, Century Entertainment reported a loss of HK$6.2m for the six months to September 30, which compares to losses of HK$13.5m in the same period in 2019.

The company remained confident that the overall tourist and gaming industries in Cambodia will grow fast once the pandemic comes to an end.