Century reduces losses despite closure of casinos

The company narrowed its losses in the six months ending September 30 despite the closure of venues in Cambodia.

Hong Kong.- Century Entertainment International Holdings has reported a loss of HK$6.2m for the six months to September 30, a reduction compared to the losses of HK$13.5m reported in the same period in 2019.

Century said accrued revenue of just HK$2.7m, down 87.4% year-on-year, having seen all of its gaming business operations impacted.

In May, the company terminated a lease agreement with Crown Resorts in Cambodia to operate a VIP room with 13 gaming tables at Genting Crown Casino in Poipet due to the lockdown.

Century Entertainment said the loss for the period: “Was mainly due to the decrease in revenue as mentioned above and the amortization of intangible assets for this period for continuing operations, which was then offset by the fair value gain on promissory notes and consultancy income.”

It added: “The company remains dedicated to strengthening its Cambodia gaming business by riding on the Group’s comprehensive knowledge and in-depth experience in the gaming industry in the Asia Pacific region”.

“With the implementation of the Law on the Management of Integrated Resorts and Commercial Gambling [Cambodia’s newly promulgated gaming law)], the Group believes that it will allow a more effective control and regulation over casino operation, gaining operators’ trust and facilitating the gaming industry in the long run.”