Century Entertainment expects an October opening for a new casino in Dara Sakor where it will operate four gaming tables.
Cambodia.- Hong Kong-based Century Entertainment International Holdings has revealed that it’s expecting the opening of a new integrated resort in Dara Sakor in October after multiple delays due to the Covid-19 pandemic.
Century has a deal with Lion King Entertainment to operate four gaming tables at the new venue, mainly operating baccarat. The company had previously planned to operate gaming tables at a casino in Sihanoukville but decided to transfer the gaming tables to the Dara Sakor Casino.
The company said it has been informed that training and testing of the casino system will begin in September, and that the gaming business will begin operations in October. It expects to operate two tables initially until conditions in the supplementary framework agreement are met.
The company forecasts that annual net cash inflows from the gaming tables will be enough to cover the group’s expected annual operating costs.
In June, Century Entertainment published its annual results for the year ending March 31, showing revenue of HK$0.7m, down 98.4 per cent year-on-year from HK$45.9m.
The company said the decrease was mainly due to the Covid-19 pandemic and the temporary closure of casinos in Cambodia since April 1, 2020, a measure that affected its gaming table business.
Century Entertainment reported a net loss of HK$43m, compared to a loss of HK$38.1m for the previous fiscal year. The increased loss was mainly due to the decrease in revenue. The company said amortisation on the intangible assets concerning the gaming table business also affected the numbers.
Cambodian authorities to reopen the country’s borders in November
The government of Cambodia has said that it hopes to reopen the country’s borders in November, although some believe that could be delayed until December or early 2022.
In July, the government suspended entries and exits with Vietnam in an attempt to avoid a rise in Covid-19 cases. The news impacted casino operators as casinos in Cambodia mostly employ Vietnamese citizens.