Centuryent Operates 7 Tables At Cambodian Casino

Hong Kong-listed Century Entertainment International Holdings Ltd said one of its subsidiaries had signed a deal to operate two VIP rooms in a casino in Dara Sakor in Cambodia's Kokong province.

The two rooms have a total floor area of about 650 square meters and have seven game tables, according to data submitted by Century Entertainment on Friday.

Wisdom Ocean Group, a subsidiary of the company, will pay $35,000 in rent for a VIP room. The contract is for three years, and takes effect from the date the contract is approved by Century Entertainment's special assembly.

Century Entertainment has the right to 100% win the jackpot, will be responsible for the loss of the entire home, and will "pay for employee costs and taxes related to these gaming businesses," the document stated.

The casino belongs to a company called LongBay Entertainment Co., Ltd. and is located at the LongBay Century Hotel.

The agreement announced follows the end of a previous agreement involving Ng Man-sun, chairman and chief executive of Century Entertainment, and Lion King Entertainment Limited, which was fully invested by Ng.

In a filing on Friday, Century Entertainment said it had terminated the original transaction because "it was not possible to obtain all the underlying books and records for preparing income statements for verifiable net income streams.

"In order to reopen the group's gaming business, we have begun negotiations with Long Bay Entertainment to lease VIP rooms directly from Long Bay Entertainment for its gaming business operations," the Hong Kong-listed company added.

Century Entertainment said it plans to "run baccarat on every game table in the VIP room."

"The board of directors said that the conclusion of the casino contract... We believe that we will generate stable revenues for the group and thus improve our financial performance and financial position," the company adde

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