Century Entertainment secures deal to operate VIP tables in?Cambodia?

Jenny Ortiz May 7, 2024

Share it :

Century Entertainment secures deal to operate VIP tables in?Cambodia?

Century Entertainment International Holdings has announced it has signed an agreement to operate a VIP gaming room at a casino located in Dara Sakor, Cambodia. This move marks a strategic shift for the Hong Kong-listed company, as it terminates a prior arrangement with Lion King Entertainment and establishes a direct partnership with the casino proprietors.

New partnership details?

Under the new deal, Century Entertainment‘s subsidiary, Wisdom Ocean Group Limited, will manage all seven VIP gaming tables at the Dara Sakor casino for an initial three-year term. The company will make monthly payments of $35,000 (€32,502) to LongBay Entertainment, the casino’s owner, in exchange for full operational control, including management of winnings and losses, as well as staffing expenses.

LongBay Entertainment will provide essential gaming licences, cover operational costs such as utilities and dealer wages, and ensure regulatory compliance.

Century Entertainment didn’t push through with its previous agreement with Lion King Entertainment due to challenges accessing comprehensive financial records necessary for regulatory compliance. Negotiations with LongBay Entertainment followed, resulting in the current partnership aimed at revitalizing Century Entertainment’s gaming operations.

Strategic vision and market potential?

Situated in the growing Dara Sakor district, the designated VIP Rooms are viewed as a strategic venture with significant potential in Cambodia’s gaming market. Century Entertainment remains committed to offering baccarat across all gaming tables, anticipating favourable prospects in the area.

Last March, Cambodia’s Prime Minister Hun Manet has implemented measures to stop the spread of gambling activities in the nation, citing their negative impacts. Hun Manet declared a suspension on issuing new licences and raised the possibility of revoking existing ones.

Challenges and optimism?

While previous plans to relocate from Sihanoukville to Dara Sakor faced challenges such as pandemic-related disruptions and implementation delays, Century Entertainment remains optimistic about the revenue-generating potential of its renewed gaming business. The company is poised to navigate challenges and capitalize on opportunities in Cambodia’s evolving gaming landscape.?

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details?here.