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Profit Warning: Century Entertainment Reports Increased Losses
Former Macau junket investor Century Entertainment International Holdings Ltd has issued a profit warning on expected losses attributable to owners of the Company of HK$63 million (US$8 million) for the year ended 31 March 2023, widened from the HK$3.7 million (US$472,000) loss reported a year earlier.
Reasons Behind the Increased Loss
According to the Thursday filing, the increase in loss for the year was mainly attributable to the writing off of intangible assets and an impairment loss on receivables for the year.
New Deal with Chairman and CEO to Operate Gaming Tables
Having endured a length period of uncertainty during the COVID-19 pandemic as it waited to resume operations of its Cambodian gaming table business, Century Entertainment recently signed a new five-year deal with its own Chairman and CEO, Ng Man Sun, to operate eight gaming tables at a new casino in Dara Sakor, Cambodia.
Main Focus: Mass Market Baccarat Tables
The eight gaming tables are all mass market tables offering mainly baccarat, Century Entertainment said previously.
Company History and Previous Ventures
Under its previous identity as Amax International Holdings, the company ran a VIP room at Macau’s Greek Mythology casino plus 13 VIP tables at Genting Crown Casino in Poipet, Cambodia, among other similar interests.
