Century Entertainment International Holdings Inc., a former junket investor from Macau, agreed to a new five-year deal with the company’s chairman and CEO, Ng Man-sun. They agreed to start with eight game tables and start operations at Dara Sakor in Cambogia.
Impact of COVID-19 Pandemic:
Ng already owns the casino. During the COVID-19 pandemic, the casino, which was located in Sihanoukville, has moved to a Chinese-backed investment area.
Century Entertainment revealed the details of the partnership on Monday. The company claimed that the price required for the game table would be HK$58 million. The transaction was made over the next five years, but the amount owed will be offset. This will happen when the company’s subsidiaries, Victor Mind Global Limited, and NG, sign contracts that are guaranteed revenue under the terms of the agreement from 2019.
The company has been unable to operate game tables under the terms of the contract since 2019, which has pushed for new contracts. Behind the decision is the relocation of casinos and the pandemic that has affected all businesses.
The company shared more details about the new game table. This popular market table will offer players an amazing experience while playing baccarat, among other games.
Century Entertainment bears full responsibility for this table, including victory and defeat.
The casino consists of a game area spanning 7.000 square meters. There are 25 VIP tables and 20 mass game tables as well as 50 electronic game consoles. When it’s time for a break, customers can enjoy the menu of a Chinese restaurant.
Where there’s a lot of potential:
The company claimed that the background of the new agreement lies in Dara Sakor’s potential. It is a part of the Kokong province, which is one of the fastest growing markets in Cambodia. It is also one of the most popular places in South Asia for many tourists who choose to visit the province.
Many hotel resorts are also planned to be built, which can provide luxury accommodation to casino customers. Also helpful is the new international airport.
A company spokesperson said, “The market value of the New Gaming Table Right based on preliminary valuation prepared by Independent Valuer is approximately HK$63.6 million (US$8.1 million) as of September 30, 2022. Therefore, this consideration is a discount compared to the value of the New Gaming Table Right, which is approximately 8.8%.”
Net amount is offset by groups in Ng and Lion King, which can save the company unnecessary costs
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