Century Entertainment expects to post full-year losses of HK$40m
The company has published a profit warning forecasting losses of HK$40m for the year ending March 2021.
Hong Kong.- Century Entertainment International Holdings has reported that it expects to record a loss of not less than HK$40m subject to further adjustment on impairment for the year ended March 31, 2021.
The company reported a loss of approximately HK$39.2m for the previous year.
The company said losses were mainly due to the amortisation on the intangible assets concerning its gaming table business.
During the fiscal year 2021, 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, a reduction compared to losses of HK$13.5m reported in the same period in 2019.
At the time, Century Entertainment said the loss for the period: “was mainly due to the decrease in revenue and the amortization of intangible assets.”
In February, Century signed a revised right agreement at a new casino in Dara Sakor, Cambodia, to operate four gaming tables, mainly operating baccarat. The launch was delayed until April due to a rise in Covid-19 cases in Cambodia.
