Century Entertainment terminates Cambodian gaming table deal
The company says it is in talks with LongBay Entertainment for the operation of a VIP room in Long Bay.
Cambodia.- Hong Kong-based Century Entertainment International Holdings has announced through a company filing it has terminated its agreement to operate eight gaming tables at a casino in Dara Sakor, Koh Kong. The casino is operated by LongBay Entertainment, which has a lease and operation agreement with Lion King Entertainment, a company wholly owned by Century Entertainment’s Chairman, Ng Man Sun.
The company said there was a mutual consent between VMG, Lion King and Ng to immediately terminate the agreement. According to the company filing, “Upon the execution of the Termination Agreement, the duties and obligations of VMG, Lion King and Mr. Ng under the New Assignment Agreement have been released and discharged. VMG has not paid any deposit in respect of the Assignment and neither party shall make any compensation to the other.”
The company said it faced obstacles in obtaining full access to Lion King’s books and records, particularly concerning indirect costs. It said it is in ongoing negotiations for a casino lease and operation agreement at Long Bay, Say Phuthong Boulevard in Dara Sakor. This could include the operation of a VIP room for gaming activities.
