Century Entertainment warns of HK$40 million full year loss

Hong Kong-listed gaming investor Century Entertainment International Holdings Limited, formerly known as Amax, has issued a profit warning on expected losses of at least HK$40 million (US$5 million) for the year ended 31 March 2021.

According to a Friday filing, the 2021 loss, which is similar to the HK$39.2 million loss reported 12 months earlier, is “mainly due to the amortisation made on the intangible assets in relation to the gaming table business, and amortisation and impairment loss made on the intangible assets and goodwill in relation to the AR/VR (augmented reality/virtual reality) applications operation in the amounts of approximately HK$13.6 million (US$1.8 million) and HK$26.5 million (US$3.4 million) respectively.”

The company’s reasoning references delays to the relaunch of mass table gaming operations at a new casino in Dara Sakor, Cambodia, following the news late last year that Chairman and CEO Ng Man Sun was relocating a casino he owned in Sihanoukville – and where Century Entertainment operates some gaming tables – to a new location.

The new location is expected to cover a gross floor area of 10,500 square with 20 mass gaming tables, seven tables for niu-niu poker, 10 tables for baccarat including Century Entertainment’s assignment, one table each for blackjack, sic bo and poker, 25 VIP tables, 50 EGMs and a Chinese restaurant.

Century Entertainment is also involved in the development of “innovative intellectual properties and technological solutions” in connection with mobile game apps development, as well as AR and VR applications.

The company said its final results are expected to be published before the end of the month.

The post Century Entertainment warns of HK$40 million full year loss appeared first on IAG.

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