Century Entertainment expects US$8.04m loss for FY23

The company attributes the increased loss to the write-off of intangible assets.

06/30/23

Century Entertainment has issued a profit warning predicting a loss for the year ended March 31.

Cambodia.- Hong Kong-based Century Entertainment International Holdings has revealed that it expects to record a loss of approximately HK$63m (US$8.04m) for the last financial year. This is a widening of losses compared to the previous fiscal year when the loss attributable to company owners stood at HK$3.7m (US$470,000). It attributes the increased loss to the write-off of intangible assets and impairment losses on receivables.

Earlier this year, the company secured a new five-year agreement to operate eight gaming tables in Dara Sakor, Koh Kong. It shifted its gaming north from Sihanoukville during the pandemic through a deal with Lion King Entertainment.

The casino covers 10,500 square meters in size, with the gaming areas making up 7,000 square meters. It has 20 mass gaming tables offering baccarat (including the new tables) poker, blackjack, and sic bo, as well as 50 electronic gaming machines, 25 VIP tables and a Chinese restaurant. Century Entertainment is leasing the casino and gaming licence until April 2036 and intends to work with the leaser to renew the gaming licence promptly on an annual basis.