Hong Kong-listed Century Entertainment International Holdings announced it is hopeful that a September opening of a new table game operation in Dara Sakor, Cambodia, will make up for the poor revenue showing the operator saw in the recent fiscal year.
Century announced a revenue decline of 72.5 percent for the first quarter to HK$200,000 (US$25,000) for the year ended March 31, 2022, but Century last week announced that it “remains positive towards its business prospects as the mass gaming tables are targeted to begin operation by late September and begin contributing revenue in the second half of 2022,” according to Inside Asian Gaming.
According to the report, Century Entertainment is undertaking a series of measures to address its liquidity and financial position, including raising additional new sources of financing when needed, seeking an undertaking by its chairman and CEO not to demand payment on convertible bonds worth HK$50 million (US$6.4 million) due for repayment on 30 September 2022, and having him personally guarantee other borrowings from third parties totaling HK$33.4 million (US$4.3 million).
“The management of the company also have implemented the re-opening plan of the gaming tables business… in Dara Sakor Investment Zone and target to commence the operation of gaming tables business from September 2022 after the completion of systems testing and training of casino staff,” the company said, according to IAG.
