HK firm’s casino to open late April
HONG KONG-listed Century Entertainment International Holdings Ltd announced a delay for the opening of a new casino at Chineseowned Dara Sakor Seashore Resort in Koh Kong province to later this month over concerns of the latest outbreak of Covid-19.
The Ministry of Health reported 37 new cases of novel coronavirus infections, all but two of which were linked to the February 20 community outbreak. To date, the Kingdom has recorded a total of 2,477 Covid-19 cases.
Formerly known as Amax International Holdings Ltd, the company recently relocated its gaming tables from a gaming floor in Preah Sihanouk province to Building 89 in Dara Sakor’s Long Bay along Say Phuthong Boulevard and was scheduled to start operations in February.
In a filing to the Stock Exchange of Hong Kong (HKEX) on March 31, Century Entertainment said it has been informed by the owner that it has decided to defer the reopening preparation works of the new casino due to the latest outbreak.
The intensified spread of the coronavirus, coupled with government lockdown measures taken across the nation in response, has dealt another blow to economic activity in the Kingdom, the company lamented.
“Upon further enquiry, the company was given to understand that necessary decoration and equipment installation have been completed for the new gaming tables but pending for systems testing and provision of training to casino staff,” said the filing, endorsed by company chairman and CEO Ng Man Sun.
“Upon further negotiation, in view of the current strict lockdown measures imposed to address the February 20 community incident, it is believed that the [lockdown] would not last for too long and subject to the development of the [latest outbreak], the new casino will strive for re-opening on or before late April 2021,” it added.
According to the Ministry of Economy and Finance’s deputy director for financial industry Ros Phearun, tax collected from the industry more than halved to $40 million in 2020, from the $85 million logged a year earlier.
He told The Post on March 21 that 101 casino operators in the Kingdom have applied to renew their licences year-todate out of a total of 193 registered by the end of last year.
On the HKEX, Century Entertainment’s share price rose four Hong Kong cents (0.51 US cents) or 8.00 per cent to close at HK$0.54 (US$0.069) on April 1 for a market capitalisation of HK$69.25 million, with 172,825 shares traded.