Century Entertainment terminates Cambodian gaming table business, in negotiations over new deal – IAG

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Hong Kong-listed Century Entertainment International Holdings Ltd said on Tuesday it had “mutually agreed” to terminate a deal to operate eight gaming tables at a casino in the controversial investment zone backed by the China, Dara Sakor, Cambodia.

According to a filing, a termination agreement was signed on December 31, 2023 by the company's subsidiary, Victor Mind Global Ltd (VMG), and Lion King Entertainment Company Limited, which is wholly owned by the company's chairman and CEO , Ng Man Sun. Mr Ng, a former Macau junket, owned the rights to the gaming tables in question.

“VMG has not made any deposit in respect of the assignment and neither party will pay any compensation to the other,” Century Entertainment said.

He, however, revealed that he was in negotiations on a casino rental and operation agreement with LongBay Entertainment Co., Ltd for the operation of a VIP room in Dara Sakor. Long Bay's parent company, Zheng Heng Group, has been accused of human trafficking and various scams, among others, by the Philippine Embassy in Cambodia.

Century Entertainment, formerly known as Amax International Holdings, previously operated table games at a Ng-controlled casino in Sihanoukville, but announced in October 2020 plans to move to Dara Sakor after Ng received a “more attractive offer”.

However, despite signing of a new five-year agreement Last February, the company never officially started its new table games business due to the impact of the COVID-19 pandemic and delays in concluding its implementation agreement.

The Dara Sakor casino in question was to cover a gross area of ​​10,500 square meters and include a total of 40 mass gaming tables, 55 VIP tables and 80 slot machines as well as a Chinese restaurant, a spa and a nightclub. .

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