Century Leisure Worldwide Holdings, a Hong Kong-listed gaming investor, is making ready to launch its new VIP gaming enterprise in Cambodia by early September, following a difficult monetary 12 months that ended on March 31, 2024.
Strategic shift and operational replace:
Previously often called Amax Worldwide and beforehand engaged in Macau’s junket trade, Century Leisure lately terminated an settlement with its Chairman and CEO, Ng Man Solar, to function VIP gaming tables at a Cambodian on line casino. As a substitute, it has entered into a brand new settlement immediately with the on line casino’s house owners to function seven VIP tables.
Regardless of the cancellation, Century Leisure faces vital monetary hurdles, reporting a lack of HK$24.2 million (US$3.1 million) for FY24 and highlighting web liabilities of HK$79.8 million (US$10.2 million). The corporate acknowledges “vital doubt” about its capability to proceed as a going concern however stays optimistic in regards to the upcoming launch of its VIP gaming rooms.
Quoting Century Leisure’s assertion: “With the VIP rooms scheduled to be opened in early September, the Group is cautiously optimistic about its income contributions ranging from the second half of 2024 and onwards.”
Along with its Cambodian enterprise, Century Leisure is exploring additional gaming alternatives each in Cambodia and internationally. It notably highlights Thailand, the place discussions to legalize on line casino operations are ongoing. The corporate sees this as a strategic alternative for geographic enlargement and is ready to regulate its enterprise technique accordingly.
Century Leisure acknowledged: “Wanting past Cambodia, the Group will carefully monitor the developments in neighbouring Thailand, the place plans to legalize casinos are underway. This presents a compelling alternative for geographic enlargement, and the Group can be well-prepared to adapt its technique accordingly to grab rising market dynamics.”
Dedication to shareholders and future prospects:
Regardless of its monetary challenges, Century Leisure stays dedicated to delivering sustainable returns to its shareholders. The corporate emphasizes its dedication to navigating uncertainties and leveraging its operational strengths to attain long-term profitability.
As Inside Asian Gaming reviews, Century Leisure commented on this: “Regardless of the prevailing uncertainties, the Group stays cautiously optimistic and steadfast in its dedication to delivering sustainable returns to its shareholders.”
As Century Leisure prepares to launch its Cambodian VIP gaming operations, the corporate faces each monetary obstacles and development alternatives in Southeast Asia’s evolving gaming panorama. The upcoming months can be essential because it seeks to stabilize operations and capitalize on rising market dynamics.
Wanting forward, Century Leisure’s give attention to increasing its presence in Cambodia and probably getting into the Thai market underscores its strategic imaginative and prescient for development. The corporate’s readiness to adapt to regulatory modifications and market dynamics displays its proactive strategy to seizing alternatives within the area.
