The company narrowed its losses in the six months ending September 30 despite the closure of venues in Cambodia.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- Century Entertainment International Holdings has reported a loss of HK$6.2m for the six months to September 30, a reduction compared to the losses of HK$13.5m reported in the same period in 2019.<\/p>\n\n\n\n
Century said accrued revenue of just HK$2.7m, down 87.4% year-on-year, having seen all of its gaming business operations impacted.<\/p>\n\n\n\n
In May, the company terminated a lease agreement with Crown Resorts in Cambodia to operate a VIP room with 13 gaming tables at Genting Crown Casino in Poipet due to the lockdown.<\/p>\n\n\n\n
Century Entertainment said the loss for the period: \u201cWas mainly due to the decrease in revenue as mentioned above and the amortization of intangible assets for this period for continuing operations, which was then offset by the fair value gain on promissory notes and consultancy income.\u201d<\/p>\n\n\n\n
It added: “The company remains dedicated to strengthening its Cambodia gaming business by riding on the Group\u2019s comprehensive knowledge and in-depth experience in the gaming industry in the Asia Pacific region”.<\/p>\n\n\n\n
\u201cWith the implementation of the Law on the Management of Integrated Resorts and Commercial Gambling [Cambodia\u2019s newly promulgated gaming law)], the Group believes that it will allow a more effective control and regulation over casino operation, gaining operators\u2019 trust and facilitating the gaming industry in the long run.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The company narrowed its losses in the six months ending September 30 despite the closure of venues in Cambodia.<\/p>\n","protected":false},"author":2,"featured_media":12182,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Century Entertainment International Holdings reported a narrowed loss of HK$6.2m for the six months ending September 30, despite an 87.4% year-on-year revenue decline to HK$2.7m, primarily due to the cessation of Cambodian gaming operations. The company terminated its VIP room lease at Genting Crown Casino in Poipet following lockdown measures. Century Entertainment remains committed to its Cambodian market presence, anticipating positive long-term impacts from the nation's new gaming law on regulatory control and operator confidence.","focusai_entities":"Century Entertainment International Holdings, Crown Resorts, Genting Crown Casino","focusai_location":"Hong Kong, Cambodia, Poipet","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Cambodia Regulatory Impact","query":"How might the 'Law on the Management of Integrated Resorts and Commercial Gambling' specifically alter the competitive landscape and operational costs for existing and prospective operators in Cambodia?"},{"label":"Post-Lockdown Strategy","query":"What specific strategic initiatives is Century Entertainment pursuing to re-establish and grow its gaming business in Cambodia, particularly concerning new venue partnerships or licensing under the revised regulatory framework?"}],"footnotes":""},"categories":[160,163,16333],"tags":[30,12436,21298,1619],"class_list":["post-12178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-finance-news","category-south-east-asia-news","tag-cambodia","tag-casinos","tag-finances","tag-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=12178"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12178\/revisions"}],"predecessor-version":[{"id":12183,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12178\/revisions\/12183"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/12182"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=12178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=12178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=12178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}