Century Entertainment International plans to launch okbet table games in Cambodia this September. The Hong Kong-listed company Century Entertainment International Holdings Ltd. is optimistic that its new gaming table operation will start in Cambodia by September. At a brand-new casino location, the business intends to introduce games in Dara Sakor. The intention was to debut considerably earlier, but many problems caused a delay.
During a recent report on the company’s financial results, information on the table game industry was made public. The company’s fiscal year concluded on March 31; according to sales figures, earnings fell by 72.5 percent.
The only money Century Entertainment International Holdings Ltd made was HK$200,000, the same as $25,500 in US dollars. This was a significant drop from 2021, when the operator made HK$43 million, which is the same as $5.5 million.
During the okbet report, the company said it still has the right to run two table games at the Cambodian casino Dara Sakor. As of June 30, 2022, none of the conditions in the agreement have met or waived, so operations cannot start.
Ng Man Sun CEO of Century Entertainment, runs the casino part of the deal. It opened at the beginning of November 2021. The casino was first in Sihanoukville, but it move to Dara Sakor when a better offer for the casino space came along.
Century Entertainment said that it is still optimistic about its business prospects for mass gaming tables this week. Century plans to launch in September, hoping to start making money by the year’s second half.
Concerns About How the Company Runs
Century Entertainment is having money problems, so the update about how the table games work comes at the wrong time. The company’s auditor just recently said they don’t know if the company will be able to keep running.
The results for FY22 showed that Century Entertainment has a net liability of HK$65,100,000, equal to $8,300,000. Due to the pandemic, the company couldn’t start running its gaming tables, which affected its liabilities.
Century is working on some ways to deal with liquidity and financial worries. New funding sources are being found for when they are needed, and the CEO and Chairman have been asked not to ask for payment on convertible bonds worth HK$50 million ($6.4 million) that have to be paid back by the end of September 2022.
A company like okbet has started working on a plan to reopen the gaming table business in the Philippines. They plan to begin offering services in September, when they will do testing of the systems and training for the casino staff.